tag:blogger.com,1999:blog-35666868.post5449683328745108832..comments2023-06-05T03:35:27.537-05:00Comments on Monona Doug: Monona City Council Defers Meriter DecisionDoug Woodhttp://www.blogger.com/profile/16661429832655198314noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-35666868.post-75457495511826665842010-08-16T11:44:51.723-05:002010-08-16T11:44:51.723-05:00"her comments?" well, I suppose it woul..."<i>her</i> comments?" well, I suppose it would be wise to assume this was a woman seeing as how it was such an intelligent comment. :)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-35666868.post-34745199354855700272010-08-14T08:19:46.301-05:002010-08-14T08:19:46.301-05:00"I am a peasant and I am fine with "subs..."I am a peasant and I am fine with "subsidizing" this via TIF. It will provide jobs in the immediate area and revitalize a crappy area in Monona - and mostly these are pretty good jobs wiht pretty good benefits. Further, this will help the small, private sector businesses such as restaurants in the area. "<br /><br />I agree with this poster and her comments. It is not like we create TIDs to pay for new gas stations.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-35666868.post-13403996917955221272010-08-12T22:02:42.794-05:002010-08-12T22:02:42.794-05:00Good Lord, I hope nobody "underasses" me...Good Lord, I hope nobody "underasses" me!Lilynoreply@blogger.comtag:blogger.com,1999:blog-35666868.post-50303221797187984252010-08-12T22:01:30.659-05:002010-08-12T22:01:30.659-05:00I am a peasant and I am fine with "subsidizin...I am a peasant and I am fine with "subsidizing" this via TIF. It will provide jobs in the immediate area and revitalize a crappy area in Monona - and mostly these are pretty good jobs wiht pretty good benefits. Further, this will help the small, private sector businesses such as restaurants in the area.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-35666868.post-19503480366565811082010-08-11T21:48:03.037-05:002010-08-11T21:48:03.037-05:00"This higher value is justified by the income..."This higher value is justified by the income production of the storage business and the value of the real estate.""<br /><br />Doug even if I quote the next sentance my point is still on point. The city is buying a prop.that is a little under assesed????<br /><br />Any chance you could underasses me by half and then buy my property when I see fit. Sorry, I know it is not your fault, but once again the peasant are subdizing the business community and they get richer.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-35666868.post-70263828423448555672010-08-11T20:09:38.419-05:002010-08-11T20:09:38.419-05:00You really do need to quote the next sentence:
&...You really do need to quote the next sentence: <br /><br />"This higher value is justified by the income production of the storage business and the value of the real estate." <br /><br />Properties can be valued based on the income produced. Looks like this one may have been underassessed. Use of the income approach for commercial properties needs to be considered by our assessor. We will be interviewing assessment firms soon as the current contract is expiring.Doug Woodhttps://www.blogger.com/profile/16661429832655198314noreply@blogger.comtag:blogger.com,1999:blog-35666868.post-28631127045482432652010-08-11T19:34:35.510-05:002010-08-11T19:34:35.510-05:00" In 2010, the city reassessed the property a..." In 2010, the city reassessed the property at $3,000,000 based on the September 2009 purchase by Livesey. In 2010, Meriter is acquiring the parcels for $6,000,000."<br /><br />Is the city interested in buying my lot for double the assesed value and I thought that properties were supposed to be assesed at 100% of value?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-35666868.post-43784885735462530192010-08-10T17:28:17.341-05:002010-08-10T17:28:17.341-05:00"By the way, we are told that defeasing TIF d..."By the way, we are told that defeasing TIF districts (so that the property taxes get split up among all the taxing jurisdictions) does not necessarily help the school district because they would stand to lose state aids based on the increase in non-TIF property value in the district."<br /><br />Doug -- that may be the case, but the ever-expanding use of TIFs, and the expansion of both the size of TIFs and their number, does have tax implications for the school district (and other taxing entitites in Monona).<br /><br />Yes, increases in property value generally lead to decreases in state aid for any given school district. But the state considers the valuation of the district as a whole; my guess is that there are parts of the MG school district going up in value, and other parts going down (many homeowners in Monona, for instance, are seeing devaluation of their houses). Defeasing a TIF district may be in the best interest of the school district, if it helps offset property devaluations elsewhere in the district.<br /><br />But the more important consideration is the mix of property taxes paid in the school district (and the county, and MATC, and the city...). For every dollar's worth of property included in non-defeased TIF districts -- almost always commercial property -- that's a dollar that has to picked up somewhere else, be it the Wal-Marts of the world (which, to its credit and largely uncreditd by any of its critics, did not seek TIF financing), or more importantly homeowners.<br /><br />Really, there's no getting around this -- property kept in TIF districts that the city declines to defease benefits from a tax "freeze" that is picked up by, mainly, homeowners.<br /><br />That's not to say this particular TIF-assisted project isn't a worthy one. But as you note, the city gets into these with the best of intentions, and yet some TIFs "underperform" as you mention, and homeowners are left picking up the bill. Glad the council waited.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-35666868.post-44694643109394986572010-08-10T15:49:50.050-05:002010-08-10T15:49:50.050-05:00Like Reagan's speechwriters said, "Trust,...Like Reagan's speechwriters said, "Trust, but verify."<br /><br />No, last night was not a 'now or never' deal, but they say they need a decision by August 19. <br /><br />Stemwinder's meaning has changed. I'm using it in the newer sense as in this:<br /><br /><br />http://www.worldwidewords.org/qa/qa-ste3.htm<br /><br />An example of the new sense appeared in the<br />Washington Post on 10 July 2001:<br /><br />"The race is, in some respects, a giant popularity contest, and Hoyer’s somewhat ponderous speaking style and white-bread image may be a drawback. “The question for Steny is, does he know when to stop?” said one ally, referring to Hoyer’s stemwinder speeches." <br /><br />I like Jeff and he's doing a good job in his council president role behind the scenes, but he does go on sometimes - an we were pressed for time last night.Doug Woodhttps://www.blogger.com/profile/16661429832655198314noreply@blogger.comtag:blogger.com,1999:blog-35666868.post-76972497439567075682010-08-10T11:36:47.390-05:002010-08-10T11:36:47.390-05:00I sometimes disagree with the mayor, but on an iss...I sometimes disagree with the mayor, but on an issue such as negotiating with Meriter, I have a fair amount of trust he knows what he's doing. That is a blighted area by my personal standards. This will help anchor more redevelopment in what remains a somewhat crummy area of Monona. <br /><br />I think the council was wise to delay until all your questions get answered. Hopefully the Meriter people understand this. There was no indication that it was last night or never, right? <br /><br />Also, what is a stemwinder? Having seen Alder Wiswell drone on and on over the years, I maybe get your drift, but not sure.<br /><br />BTW, I think Monona Drive is beginning to look fabulous. The view over the marsh from atop the intersecctin of Femrite and Monona Dr is beautiful now that's it is unobstructed by utility poles. I like the street lights. Looks like those downard facing ones that don't cause light pollution? I wish we could slowly start replacing all the street lights in Monona with fixtures that do not shine upward.Anonymousnoreply@blogger.com