Fridley Northstar Station: City Looks at TIF for Funding
The May/June 2007 issue of the Fridley Community Report features a story on the Fridey Northstar Commuter Rail station, or the lack of a station as it currently sits. At issue: money. The Northstar Commuter Rail Development Authority submitted their federal grant application without the Fridley station in order to keep Federal Transit Administration cost-benefit ratios in check. Had the $10 million for the station been included, the formula for a 50 percent federal match would have been spoiled.
As a result the City of Fridley and the Fridley Housing and Redevelopment Authority are looking for creative ways to fund the station. Chief on the list of options is special legislation to use current and future Tax Increment Financing (TIF) revenues from three post-1990 districts that were due to be decertified this year.
How do you feel about using TIF for this purpose? Post a comment.
Read the complete story in the May/June Fridley Community Report by following this link.
As a result the City of Fridley and the Fridley Housing and Redevelopment Authority are looking for creative ways to fund the station. Chief on the list of options is special legislation to use current and future Tax Increment Financing (TIF) revenues from three post-1990 districts that were due to be decertified this year.
How do you feel about using TIF for this purpose? Post a comment.
Read the complete story in the May/June Fridley Community Report by following this link.
It is a shame that funding for the station was not included in the inital legislation as the station had always been part of the plan. I believe it does make sense for the city to try and become part of a transit system that will be running through its community.
Reply to this