TIF is intended for infrastructure within the city

To the editor:

The Aug. 24 article on tax increment financing by Bob Miller does not address the taxpayers' viewpoint. TIF was created to help pay for the infrastructure of cities. In Table 4 of the Prestwick Plantation brochure dated July 26, this is not true. The developers are dangling a $4 million carrot to the school board and a $580,000 carrot to the city. To me, this is a bribe in a creative way. Also they are noting land acquisition of $8,220,271. What does land acquisition have to do with the infrastructure program that TIF was intended for?

If TIF is approved as bonds, the developers could bank the $24 million to $28 million that they have asked for and get interest at 6 percent and make $1,800,000 a year. Who will benefit from it?

I believe that TIF should only be used for the city to build the infrastructure to the property line of a development and no further. If the developer cannot get funding through commercial channels, so be it. The project is too risky. It has already been brought out that a market here is limited.

I am not against development, but I am against any taxpayers' funds to be used by a developer.

JOHN R. HECKROTTE

Cape Girardeau