To the editor:
I do not think that the city of Crestwood should give tax-increment-financing assistance to Centrum Properties to help redevelop Crestwood Court because it will not serve the public interest.
The purpose of tax-increment financing, or TIF, should be to help our public infrastructure, such as to improve schools, libraries or parks. I do not see that with this proposed redevelopment project.
My other concern is that with a lot of these TIF projects, a lot of the tax money that would go to help our schools, Fire Department, Police Department and parks, never winds up being paid because the developer negotiates his lack of obligation to pay these taxes into the proposal.
This could have long-term effects on our community.
I strongly advise our Board of Aldermen to consider these factors when examining any redevelopment plan for Crestwood Court.