Given the city’s latest released plan, do you support Tax Increment Financing (TIF) to fund public infrastructure for Parcels B and C and other downtown development? Do you support the developments themselves? Why or why not?
Yes, I support the city’s efforts to use Tax Increment Financing to fund public infrastructure for the development of the former convention center site known as Parcels B & C.
I also support the actual development proposal, assuming that residential units and a reimagined hotel remain the focus. The development is a positive for downtown and will be helpful for my primary goals as mayor: meaningful economic growth.
If anything, the city’s TIF plan may not be ambitious enough. Including other nearby projects could have a more significant impact on our future.
I know we are eager to get this development completed, and I understand the desire to keep things simple to get the deal pushed through. Yet I do not want this to be another example of Frankfort setting its sights too low. I also do not want the public to be disappointed should the projected TIF numbers not turn out have the economic impact planned because the new development was not significant enough.
The execution of this project, and similar future projects, needs a mayor with a strong financial background and ability to evaluate the numbers.
As mayor, I will ensure that we minimize our risks and not burdened us financially. I will also work with the developer to ensure accountability, with timelines kept, and that the completed project is what Frankfort intends.
The development of Parcels B & C is a huge opportunity for Frankfort. We need a proactive leader who will promote Frankfort’s value and vision, to close this deal and the expected ones to follow. That is what I intend to do.
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