Posts tagged: Cato Institute
A report released today identifies an estimated $52 million of tax dollars being diverted from local taxing districts to pay for government-selected projects with little economic benefit. Cato Institute Senior Policy Analyst Randal O'Toole wrote the report for the Idaho Freedom Foundation. The Cato Institute is a Washington, D.C.-based free market public policy research organization. “The report confirms Idaho's urban renewal districts are out of control, and the Legislature needs to act to fix the problem before it becomes even worse,” said Idaho Freedom Foundation Executive Director Wayne Hoffman/Idaho Freedom Foundation. More here.
Question: Do you agree with Wayne Hoffman that “Idaho's urban renewal districts are out of control”?
Some Idaho lawmakers are looking to put new limits on urban renewal districts, which are special taxing areas that divert some property tax dollars from traditional areas such as schools and local government to fund development and business projects. Several lawmakers got a dose about the potential problems of urban renewal at a presentation by Randall O’Toole with the Cato Institute that was sponsored by the Idaho Freedom Foundation. O’Toole said he doesn’t think urban renewal is necessary and can harm cities efforts to grow/Brad Iverson-Long, Idaho Reporter. More here.
Question: Is urban renewal important to help Idaho cities develop?