Right now, Madison's elected officials are considering changes to our policy on the use of Tax Incremental Financing (TIF). The existing policy prioritizes the use of pubic financing for projects that would not otherwise happen, provide affordable housing, and create jobs that pay a living wage; especially in areas with the greatest need.
However, the City's Economic Development Committee, backed by powerful interests like the Chamber of Commerce and Downtown Madison, Inc., proposed changes which would allow funding for projects that would happen regardless of tax financing and could weaken the benefits gained through our TIF system.
We, the undersigned, believe that our tax dollar should only fund projects with direct public benefit that wouldn't happen without public financing. We believe projects should address the needs of the community for affordable housing and jobs that pay a family-supporting wage.