TIF-ed about Condo-rado

In a Rocky op-ed, Jennifer Lang, a researcher at the Independence Institute's loftily named Center for the American Dream, takes issue with urban renewal authorities and mechanisms such as tax increment financing (TIF). The II's chief, Jon Caldara, is a radio personality on Denver's biggest AM station, 850 KOA, and II's beliefs are decidedly libertarian and staunchly anti-tax and anti-most-things-related-to-(our) government. Caldara fancied himself as a modern-day Robin Hood as he spearheaded opposition to Referendum C in 2005 state elections.

In the op-ed piece, Lang contends that "urban renewal aims to stimulate growth and tax revenue to remain competitive with other cities, but ultimately, it could slow regional growth as private development will be drowned out by the influx of subsidized development." The general idea behind TIFs is to finance development or improvements that might not otherwise occur, creating future taxable value. To be sure, some TIF's flop. But it seems misguided to oppose the likes of Stapleton, Lowry and Belmar, which have created thousands of jobs and and millions in tax revenue at sites that would otherwise languish. Today, Stapleton, Lowry and Belmar are thriving centers that provide tax revenue for their respective jurisdictions and more lively public spaces for citizens. The private sector is a key player in this process, and takes on its own risks in undertaking the complexity of mixed-use development, but the public-private partnerships here in Colorado have been vastly successful. Categorcial libertarian opposition to urban renewal authorities is somewhat paradoxical, because it seeks to "free up" private enterprise by shackling government practices that often unleash the positive forces of capitalism.

Lang's piece likens New Urbanism to the "latest planning fad" that greatly undermines the American bedrock, single family homes, replacing them with " high-density, walkable communities with multifamily housing on tiny lots combining retail, office and living space." Oh no! On its website, the Center posts a PowerPoint presentation entitled "Urban Renewal In Colorado's Front Range". Slide 27: "Land as far as the eye can see for eight hours, no land shortage".