T.I.F. Petition Circulating Through Marshall County - KTEN.com - No One Gets You Closer

T.I.F. Petition Circulating Through Marshall County

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In Marshall County, some voters are putting up a fight against a recent commissioner vote involving the future of public funds. It has to do with what's called a T.I.F. tax -- an incentive some areas use to draw in development. The drawback? It depends on who you talk to, but it could rely on how taxpayers want to see public funds spent. KTEN's Jhen Kordela has more. 

If you were out in Madill over the weekend, you may have seen a mobile unit with a large banner that read: "Let the voters decide."

Local residents were gathering signatures for a petition to change the terms on a more than $320 million T.I.F. tax for Pointe Vista Development.

Community members may soon be confronted with the issue, as canvassing teams take to the street. The heart of the argument? Future development and where the money generated from that development will go. 
 
"People would like to see an economic recovery in Marshall County," says Boyd Steele, who helped initiate the petition. "However, they don't want to give the farm away to see it."

Last month, county commissioners gave the go-ahead on a $329 million tax subsidy to Pointe Vista. That's in exchange for bringing the $5 billion development to Kingston. It includes a resort, convention center, condos, even a water park.

Residents circulating the petition would like to see 50-percent of money generated from the T.I.F. tax to go to the county, 50-percent to the business and to re-visit the subject in 10 years. That way, some of the money could go toward schools, hospitals and other public expenditures.

"I think that the development, as they have portrayed it in public meetings would be a great thing for Marshall County, I think it would," says Steele. "And, we certainly don't want to stop development. We just want to see it fair and equitable."

Here's the $329 million break down:

Demolition and Debris Removal $500,000

Master Water System $36,300,000

Master Sanitary Sewer System 33,600,000

Master Roadways $36,200,000

Master Amenities $61,300,000

Local Water / Sewer Utilities $22,700,000

Local Roadways $69,200,000

Public Parking $20,800,000

Capital Impact Aid for Emergency Services $5,000,000

Capital Impact Aid for County Roads $5,600,000

Miscellaneous $13,500,000

Contingency $24,310,000

Total: $329,010,000

- Jhen Kordela, KTEN News