A streetcar named Desire needs a TAD The desire for a new streetcar is so high that it takes a Tax Allocation District to adopt it, raise it and maintain it. At least that is what CAT and its Board thinks but why would anyone want to rezone West Savannah and turn it into a TAD just to defibrillate a streetcar that died faster than it was built? The secret can be found in the money game called Federal funds and grant money. CAT believes that by showing the Federal Government that they have obtained $16 million to fund a streetcar project with attached ferry services between nowhere and nowhere that they can get a grant that will then fill their bottomless money pit. Hm, let’s think back for just a second. In July, CAT requested a millage rate increase of 1.4 from the Chatham County Commission but only got awarded 0.86. They also asked for a new credit line of $7 million, which they received but with the promise CAT would use the newly printed funds to pay off the old 2007 credit line of $1.6 million. So far that leaves CAT with an extra $5.4 million plus extra property tax revenue but then something else happens. CAT announced last week it lost $2.2 million in Federal funding and is struggling with the idea of raising ticket prices. It would rather get more funding from the County, which is not possible since the budget and related millage rate has already been closed and approved. So let’s try a new trick. If the Federal Government withholds $2.2 million in funding, the County’s piggy bank is closed and the riders don’t want to pay more for the bus ride, than let’s try dangling the carrot in front of City Council. Now that sounds like an ingenious plan, certainly if someone can dream about turning the entire Westside into a TAD amusement park. CAT wants taxpayers to believe that if the City forks over $16million from a West-TAD that all of a sudden the Federal Government will reopen its dry money-faucet to fund a streetcar aptly named Desire, because that’s all it is really. The funny thing of course is that right in the middle of this TAD, someone is envisioning a brand new $140 million arena. Unfortunately, there is only $20 million in the piggy bank and who knows what SPLOST will do in November. The industrial Westside, paper mill, boarded up streets and flying bullets included, are now salivating and dreaming about fancy streetcar rides and ferries from luxury hotels to the Westin spa and back to the $50 million East TAD. It seems that City Council is preparing well in case SPLOST loses in November, in which case they will simply marry CAT and adopt the Westside. Someone in the middle will happily baptize the new child West TAD, newborn brother of East TAD, to be fully supported by any and all available and popular entitlement programs, commonly referred to as property taxes. As a courtesy, the child support docket holders will be allowed to visit under the strict supervision of the SCMPD to protect and serve the safety of the financial guardians until both children come of age, lest the children will be left unattended and mistreated. savannahnow/exchange/2013-08-20/cat-ceo-propose-tad-help-fund-streetcar-project#.UhUb4H9Y3KQ
Posted on: Thu, 22 Aug 2013 22:03:19 +0000
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