Tag: Economic development
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WichitaLiberty.TV: Wichita economic development, one more untold story
Readers of the Wichita Eagle might be excused for not understanding the economic realities of a proposed tax giveaway to a local development.
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In Kansas, PEAK has a leak
A Kansas economic development incentive program is pitched as being self-funded, but is probably a drain on the state treasure nonetheless.
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Wichita city hall falls short in taxpayer protection
An incentives agreement the Wichita city council passed on first reading is missing several items that city policy requires. How the council and city staff handle the second reading of this ordinance will let us know for whose interests city hall works: citizens, or cronies.
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Wichita drops taxpayer protection clause
To protect itself against self-defeating appeals of property valuation in tax increment financing districts, the City of Wichita once included a protective clause in developer agreements. But this consideration is not present in two proposed agreements.
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Government intervention may produce unwanted incentives
A Kansas economic development incentive program has the potential to alter hiring practices for reasons not related to applicants’ job qualifications.
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Tax increment financing (TIF) resources
Resources on tax increment financing (TIF) districts.
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Wichita TIF projects: some background
Tax increment financing disrupts the usual flow of tax dollars, routing funds away from cash-strapped cities, counties, and schools back to the TIF-financed development. TIF creates distortions in the way cities develop, and researchers find that the use of TIF means lower economic growth.
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Wichita loan agreement subject to interpretation
In 2009 the City of Wichita entered into an ambiguous agreement to grant a forgivable loan, and then failed to follow its own agreement. Worse yet, there has been no improvement to similar contracts. Such agreements empower the city to grant favor at its discretion.
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Wichitaliberty.TV: Special taxes for artists
In this excerpt from WichitaLiberty.TV: Wichita government spending on economic development leads to imagined problems that require government intervention and more taxpayer contribution to resolve. The cycle of organic rebirth of cities is then replaced with bureaucratic management.