Quote:
Originally Posted by Mr Downtown
It's pretty unrealistic to expect it to develop but for the presence of a TIF.
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Let's be honest. The "but-for" standard, as people like to use it, is nonsensical. In theory,
any and all parcels can and likely will be developed at some point without subsidies, once demand is sufficient. The question is really
when and at what
intensity.
There is no way Lincoln Yards would be developed at this intensity and so soon without significant TIF subsidies.
Also, saying that the TIF wouldn't have qualified if we accounted for rising land prices, which are themselves a function of expectations regarding the TIF... By that logic, no TIF can ever be justified. This was a long time coming and expected by everyone. If you look at assessments the moment the TIF deal is about to be signed, it would be surprising if they didn't already significantly capitalize the revised expectations of accelerated development.