Congratulations, Bettendorf!

From the Quad City Times ("Bettendorf rethinks its TIF policy"):

Bettendorf is revising its policy on tax increment finance districts....

...Most of Bettendorf’s TIFs have been used to spawn economic growth and eliminate blight, Van Dyke said, which is what he thinks the Iowa Legislature intended. However, as cities have become more and more competitive in attracting and retaining businesses, many have begun to think creatively when it comes to using TIFs, he said.

Bettendorf’s TIF policy, which has not been updated in more than 10 years, states that TIFs will not be used for retail developments. However, Bettendorf has in recent years used TIFs for such purposes, with Duck Creek Plaza being one example.

“Let’s fix the policy to reflect the reality,” said Alderman Patricia Malinee, 4th Ward.

Alderman Joe Douglas, 2nd Ward, said he thinks TIFs should not be used to help a business that would be a direct competitor with an existing business in the city. He said he was surprised to learn earlier this month that the city is considering creating a TIF district to help the Animal Emergency Center, 1510 State St., relocate to a site near 28th and State streets.

News of the potential TIF district angered Michael O’Banion, owner of Bettendorf Veterinary Hospital, 3510 Belmont Road. He said he was forced to comply with many costly city requirements.

In a letter to the council, O’Banion wrote, “How can the city allow one business to shoulder such financial burdens that greatly benefited the city and then turn around and extend to another similar business preferential treatments and financial incentives?”

Malinee said the same thing happened when Home Depot located to Duck Creek Plaza, which received TIF incentives, thereby affecting longtime Bettendorf business K&K Hardware.

This is good news.

Business owners need to get wise about what sort of politicians are in charge of their own city.

Would they sell your local hardware store down the river in order to bring in some impersonal Big Box like Home Despot? Would they allow tax credits for a direct competitor?

You business owners really should be asking these questions of your local elected flunkies and trumpeting the results far and wide.