Harford Beechtree deal is nuts
Not much time to get into details, but the proposed tax increment financing (TIF) in Harford County that Jonathan Pitts writes about in today's paper is the dumbest legislative proposal to come down the pike in -- well, at least a couple weeks. As of February there were 1,682 homes for sale in Harford County, according to my colleague Jamie Smith Hopkins.
That's a huge inventory -- much higher, as a multiple of local demand, than the national average. And developer Clark Turner and County Exectutive David Craig want county taxpayers to take out a special loan so Turner can build more houses? A mile from Aberdeen Proving Ground? In a county where base realignment will soon bring demand for houses and allow development to proceed naturally? No way.
TIFs are intended to bring development to challenged areas that might not otherwise get it. Harford, and Beechtree, will eventually be swamped with development without any special deals for Turner.
Comments
But JAY! HarCo's wonderful Government would NEVER do something so blatantly in favor of stupid McMansion development!
Posted by: HamdenJames | March 16, 2010 12:09 PM
Mr. Hancock, I appreciate your comments and you may be right. However, its seems to me with BRAC looming that Harford County may be a bit behind when it comes to supplying the infrastructure (roads, housing, etc) that it's going to take to support the influx of people. If we don't do more now, we may be setting ourselves up to lose (meaning, the people moving into this area may just go to Balto co or surrounding areas). This would put the cost burden on Harford County for roads, public safety, etc, but the tax dollars would be going elsewhere. Maybe tax increment financing is a smart move. Those moving from NJ and other states may not be thrilled with our current housing inventory. If TIF isn't the solution, what's your proposal?
Posted by: Mike Thomas | March 16, 2010 4:41 PM
I think TIF is a great idea. Creative financing for Turner's property will stimulate the economy and provide housing for 700+ out of 1,800 by 2011. There are only so many listings for housing in Hartford County. Do you want the money going somewhere else? Hartford County has shot down so many other proposals to increase BRAC housing that if approved shows Hartford County moving out of old school mentality of our grandparents!
Posted by: Michael McAdam | March 17, 2010 5:48 PM