Monday, March 23, 2009

Journal Misses TIDDs Import

The good news is that the TIDDS bill has been temporarily pulled from the house due to rising public outcry. Of course, the Journal softpedaled this story. The bad news is that TIDDs will be back! It's a complex issue, so I have assembled more information.

Now is the time to email your legislators to prevent 400 million of your tax dollars being given to a CA company that already has many documented bankrupt developments. Here are some talking points (from a legislator) and a list of House email addresses.

Our local guy is Moe Maestas who is pro TIDDS (and, according to today's paper, sponsoring a bill to wipe away criminals' past crimes, making more business for criminal attorneys. Guess what he does for a living?)

From a legislator:

• TIDDs are a giveaway to the Developers.  They fund roads and sidewalks, and only increase the developer's profits.  They have nothing whatever to do with bringing jobs into the state.
• TIDDs take away the tax base the Cities and Counties need to provide services to the new developments, and take State funds needed for Capital Outlay, Education, and Aid to Children.
• TIDDs take tax revenues to benefit large developers at the expense of the whole state.
• If you approve these big TIDDs, you guarantee the developers hundreds of millions of dollars in subsidy, but the state law requires absolutely nothing in return from the developers.  They plan jobs, they promise jobs, but if they don't produce any, there is NO PENALTY.  You should not DARE to vote yes for these giveaways.
• TIDD funding encourages new, sprawling developments.  These developments will cannibalize jobs and business from other places in the area and the region.  This means TIDD subsidies are helping create rich new areas at the expense of existing areas.  The state should not, ever, subsidize this activity.
• If TIDDs have power to bring new jobs to NM, why did the State have to put in $130M to bring Schott Solar and $47M to bring Fidelity Investments to Mesa del Sol, which already has a huge TIDD?  Wasn't the "Job Magic" of their TIDD enough to bring in these companies?  Just what DID their TIDD contribute to bringing these businesses here?

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