[RP TownTalk] Your Tax Dollars to Pay for the Cafritz Bridge?

[Kate Kelly]

Monday, March 25, 8 P.M., Work Session
Riverdale Park Town Hall
5008 Queensbury Road

Come to Monday's meeting to ask for a clear explanation of the TIF--tax
increment financing--that the town is proposing.

I am not a budget expert. But as I understand it, a TIF takes expected
future tax revenues to pay for current development, such as Riverdale
Park's share of the cost of a bridge over the CSX tracks.

So far, no one has said how much the bridge will cost or how much the
developer will pay toward that cost after buying the land. So we don't
actually have any indication yet of how much of the town's tax base will go
to pay for the bridge to the development.

We also don't know who will pay the up-front cost until the tax revenues
start to flow into the town's coffers or how long that will take.

Please attend the meeting and ask for a complete and understandable
explanation.

Thanks again,
Kate and Joe Kelly
Tuckerman Street
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