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

[Peggylint]

Well I do know the American Physics Center has written a letter to 
Cafritz saying THEY WILL NOT SELL any land for a bridge.  So.where are 
they gong to build the bridge?

-----Original Message-----
From: Kate Kelly <mrs.ahkelly at gmail.com>
To: towntalk <towntalk at riverdale-park.org>
Sent: Sun, Mar 24, 2013 7:49 am
Subject: [RP TownTalk] Your Tax Dollars to Pay for the Cafritz Bridge?

Monday, March 25, 8 P.M., Work SessionRiverdale 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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