School board's TIF decision based on facts

To the editor:

Your Saturday editorial which couched the Cape Girardeau School District's decision to reject the Prestwick tax-increment financing proposal as an argument pitting pro-development versus anti-tax break contingencies completely missed the mark. Being pro-development and anti-TIF proposal are not mutually exclusive.

Developers by definition are pro-development. In spite of this, I've yet to hear the local developer community speak in favor of the proposal at public meetings of the TIF commission or school board. In fact, many residential and commercial developers, both large and small, have spoken against the project, thus being pro-development and anti-TIF. The universal concerns seem to be the long-term effect that diversion of school tax revenue would have on the school district and the precedent that will be set for other developers to follow. Isn't it interesting that the constituency that could most benefit from establishing a residential TIF district are the most vocal opponents?

The school board based its decision not on pressure from pro-development and anti-tax factions, but on the facts which were presented to them. In the final analysis, the board found that Prestwick had not presented enough information and assurances to justify placing the district in a potentially precarious financial position for the next two decades. They've shown themselves to be good stewards of the public trust.

TIM GOODMAN

President

Benton Hill Investment Co.

Cape Girardeau