Tracking code caldwell guardian

Thursday, October 11, 2012

Nampa Urban Renwal Looking for Debt Underwriter

As promised, Nampa Development Corp. is looking to spend another $19 million for a new library. If they can find any takers on the debt it will be south of 4.0%.  Their Developer won't do much but talk until the money for the project is secured. 

What is not well understood with this project and all urban renewal projects is ALL COUNTY TAXPAYERS WILL PAY FOR THIS PROJECT.  URA's pay for their pork projects with property  taxes and call it "magic".  The only magic in all of this is how poorly informed taxpayers are on the mechanics of how urban renewal works. 

City officials are not willing to put these pork projects up for a vote of the people for fear the voting public will not approve their pork projects.  The Idaho Legislature created URA's to get around voters and bond elections.

 Now we have another $19MM for a library on top of the $14.5MM spent on a new police building.  All Canyon County property owners will be forced to repay this debt.  The tax shift created by removing properties from county tax rolls like the Nampa Marketplace and other property has to be made up for to keep the cash flowing to pay for city and county services.
Posted by Paul Alldredge at 11:09 AM

4 comments:

  1. UnknownThursday, October 11, 2012 11:55:00 AM

    I hate to point this out to you Paul, but the cities in Canyon are broke. And, the officials of the County and the cities are getting very creative about how to deal with their fiscal and financial issues.

    Racketeering to pass jail bond issues, citations for jaywalking, citations by the bushel for minor speeding infractions, and a host of other "law enforcement" actions, are the result.

    Your fine police departments over there in Nampa and elsewhere, with all of their bungling and ineptitude and abuse of power, are part of the result.

    And, until the voters figure it out and take charge, it will get worse before it gets better.

    ReplyDelete
  2. AnonymousThursday, October 11, 2012 9:17:00 PM

    Well, maybe they should increase the parking fee to 25.00 per car.

    ReplyDelete
  3. AnonymousFriday, October 12, 2012 3:53:00 PM

    Well in case none of you have noticed the trend will continue. Our inept commissioners will continue to cut personnel and services to residents while spending our precious treasure on cockamamy projects like a gazebo in the courtyard of the courthouse. Nampa and Caldwell city on the other hand will continue to raise taxes and expand their kingdoms all the while arguing it is they who should be in control of all things as they chip away at all constitutionally elected offices and attempt to replace them with mayoral appointments. Something is seriously wrong in this county.

    ReplyDelete
  4. AnonymousSaturday, October 13, 2012 7:57:00 AM

    It's not enough that UR will fund the new library. Additional costs such as changing the sewer lines and other utilities need to be funded by someone and Nampa Redevelopment is trying to tap other city funds for these projects. City Council will decide whether this shift of funds will happen. Already city has ponied up for traffic studys.

    ReplyDelete

A public discourse on the issues of the day makes the world a better place.

We welcome comments but they will be moderated and edited if too long or do not have anything to do with the post.
Agree or disagree just do it without profanity or it won't get posted. Try to keep your comments to no more than 300 words. Too long and I will try to edit it down or simply delete the comment. The whole idea is to get people to read your comment. Don't use 10 words when one will do the job.

It's OK to have a difference of opinion but keep it civil. I have used the "delete" feature on myself at times.

The ANONYMOUS feature for comments seems to be the most user friendly. People have commented they have difficulty with the other methods of posting comments.

Subscribe to: Post Comments (Atom)