Many may not be aware, but there is an item on this week’s Orange County School Board regarding this same Emerson Project (MMI Development). The issue is whether to waive all or part of the School Impact fees for this project. the School Board staff has objected to this request, but is willing to enter a Settlement agreement to avoid litigation. In other words, if this developer does not get their way, they will SUE.. Wonder if they will sue the City of Apopka if things don’t go their way here in a couple of weeks?
As many citizens have heard and read, the proposed STIF district near 414 and Marden Road in Apopka, was tabled until the next Commission meeting, giving our Commissioners more time to read, study and understand this 10 page agreement. These synthetic tax incremental financing districts create funding for public/private projects by borrowing against FUTURE increase in tax revenue created by businesses and other projects expected to move to the district because of the main project; in this case, an interchange. That is why these are gambles at best; we are being asked to hedge our bets and quite possible, our futures, to obtain instant gratification and not worry about what tomorrow holds. What tomorrow could hold is a sluggish or failing economy; plans and visions that change; bankruptcies. What tomorrow could hold is Apopka taxpayers with a millstone around our necks that could take years, if not decades to remove.
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