Downtown Lexington Corporation’s proposed new Management (read “taxed”) District
Apparently the LFUCG needs more taxpayer dollars to make downtown prettier (to go with the new hotel it’s helping out to the tune of a $6M tax credit.)
From the Lexington Libertarian League, brackets and emphasis mine:
With preposed cuts to it’s budget (see below), the Dowtown Lexington Corporation is lobbying for the establishment of a Special Taxing District (outlined above) made possible under KRS 91.752 allowing for combined local governments [like the LFUCG] to establish quasi governmental ‘Management’ districts to ‘Enhance’ exterior ambiance of Downtown in accordance with KRS 91.756.
The establishment of this district requires written consent via petition of 33% of property holders within the preposed district under KRS 91.754.
If established property holders will pay — in addition to current property taxes — an .1% per $1000 ad valorem ‘fee’ [$1 per $1,000 of assessed property value], the proceeds will be appropriated by a board of directors appointed by the DLC with consideration to KRS 97.760 & KRS 91.758.
A perfect example of Democracy in action: two wolves and a lamb discussing what’s for lunch. If you are a homeowner living downtown, you might be outgunned and outvoted on this topic.
A bit of the Fayettenam budget
A few questions come to mind:
1. So “the proceeds will be appropriated by a board of directors appointed by the DLC”? Millions of tax payer dollars will be spent by an NGO (non-governmental organization)? An NGO made up of downtown Lexington businesses who will extract money from everyone living in the district for its own purposes. Somehow this seems wrong to me. Anybody?
2. I know this belongs in another post, but how in the name of fiscal responsibility did the LFUCG justify a $6M tax credit to a hotel?
3. Where will LFUCG make up the $6M it gave to that hotel in its budget?
Civics Tips
The Founders created a Republic instead of a Democracy to hold off taxation without representation. NGOs get around that.
I understand that just anyone can blog (case in point) and facts are optional, but PLEASE do a little research before talking about things you are clearly not up to speed on… The $6 million involved is a Federal Government HUD Section 108 loan. (Did you even read the news reports?) Accordingly, 21C must repay the money. Lexington did not “justify a $6 million dollar tax credit” and does not need to “make up the $6 million it ‘gave’ to that hotel…” While you’re down that rabbit hole, turn on a light and avoid remaining in darkness.