Businesses don’t need TIF
I applaud businesses in Waunakee that have grown or started without TIF funding. The owners of these workplaces can be proud that they are accomplishing their business goals without TIF. These business owners can stand proud that their business goals are being accomplished without TIF Funding.
It is now apparent that business will come to Waunakee without TIFs. HyVee grocery store is a shining example of a business coming to town without a hand out of subsidized funding.
While attending many village meetings over many years I saw and heard a few things that made me nauseous. At one meeting after TIF funding was approved for a business to move to Waunakee from another town, the businessman said the business didn’t need the funding, but thank-you. Why are businesses receiving TIF funding without obligations to add employees or expand operations? Why have municipalities (property taxpayers) begun footing the bill for capitalism at its best? The free market isn’t balanced or free when taxpayers are paying for business.
I’ve been told for years that TIF funding doesn’t negatively effect property taxes paid by citizens in a community. Verona had an issue with TIF funding and taxes. Verona needed a state law change to rectify the situation. The premise for changing the law was that due to the mistake in assessment of Epic’s TID, other taxpayers were on the hook for more than their share. TIF is complicated, so complicated the professionals can’t stay on top of it.