NORMAN — Editor, The Transcript:
I am confused why Council Member Cubberly was so upset with Council Member Kovach’s comments about the TIF. Kovach rightfully pointed out that the developer is not meeting his obligations on design standards and the quality of stores being brought into the TIF district. When the council committed millions of our tax dollars for infrastructure, we were promised High End Spectacular Development. Council Member Cubberly was wrong when he stated that there would not be any development without the TIF. The CEO of the University Foundation stated at the first public meeting that the land would be developed with or without a TIF.
The promise of a regional draw was the only protection our local paying business owners have from being disadvantaged by the millions of public dollars going into a private development. Over $2 million of sales taxes were directed to the TIF under the 60 percent TIF/40 percent city formula this year. In this tight budget year Kovach’s observation should be quite compelling to all citizens. Capping the TIF would mean the existing debt could be refinanced and the majority of the money could go back to the city treasury.
Kovach’s request for a review of the existing situation versus the contractual obligations is prudent and shows at least one member of the council is trying to level the playing field for retailers whose businesses are suffering because of the TIF. He is also looking out for the tax paying citizens whose money is paying for the TIF infrastructure. It is exactly what the original committee of council members, business leaders and citizens intended when it cautioned City Council that the standards in the agreement must be kept high or the project would financially harm the rest of the city. Council Member Cubberly could best serve the citizens by protecting our interest and supporting, rather than criticizing a colleague who is willing to step up for the tax payers.
COL. A.D. HOLLINGSWORTH
Norman
