Comments on: Maybe Health Care REIT can take care of the horses while we give away the farm…

By: LisaRenee

LisaRenee — Tue, 10 Feb 2009 01:06:34 +0000

That’s an excellent question, I’ve been researching that and could not find anything that stipulated it had to be done in the ORC or the Administrative Code as of yet.

By: DeeDee Liedel

DeeDee Liedel — Tue, 10 Feb 2009 00:51:55 +0000

Lisa – is there a ‘make whole’ provision for the schools? I thought this was common but I know it’s not done in all cases – where the property owner pays the equivalent of the school’s portion of property tax directly to the schools (although it is not a property tax, which created problems for Anthony Wayne with regard to Dana’s tax abatement when Dana went in to bankruptcy.) But in this case, is TPS going to be made whole?

By: LisaRenee

LisaRenee — Mon, 09 Feb 2009 21:12:44 +0000

This is what was posted in January, that stated in part that it would be 45 jobs created as opposed to 40.

By: LisaRenee

LisaRenee — Mon, 09 Feb 2009 14:55:53 +0000

I would agree with your position, as well as wondering considering small business is traditionally one of the growth areas, we really demand more of them as far as real estate tax and other taxes that they don’t get abatements for. It sets up a scenario where the larger corporations are rewarded and the smaller businesses are not. Hard to describe that as fair or equitable.

By: DeeDee Liedel

DeeDee Liedel — Mon, 09 Feb 2009 14:46:51 +0000

I really struggle with tax abatements and TIFs; if a business can make it with the current tax structure, what is going to happen when the incentives expire (we’ve already seen a few examples of what happens). Perhaps if our taxes were lower across the board, these huge incentives would not be necessary. Otherwise, this is simply pushing the cost of living/doing business here onto the residents (especially when it comes to the schools’ portion) and businesses that don’t have the leverage to get their own tax abatement.