Quote:
Originally Posted by Albert_The_Crocodile
What I find offensive is that religious fanatics convinced the governor of one of the poorest states in the country to give $18 million in taxpayer funds to the con artist who built this park, while cutting education and health care programs for impoverished children.
But you're fine with that, apparently.
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It's worse that that. I think I linked an article about the TIF bond funding. $62 million of TIF bonds were raised to fund the project; in other words, his christian hoards would not donate.
What is
TIF funding? It means future tax revenue from the Ark Encounter is diverted to repay the TIF bonds; in other words, the community (in this case the nearby town of Williamstown) gets only 25% tax revenue until all the bonds are paid off.
What happens if the Ark Encounter goes broke? The citizens of Williamstown are liable for the bond repayments.
Nice work if you can get it.
Want to hear the worst of it? The employees of the Ark Encounter will be charged a 2% tax on their gross earnings to help pay off those bonds.
Don't believe me, for the Jeff's and the Vizio's of this forum? Here is the full agreement of this horrible arrangement within the minutes of the Town Council:
https://www.dropbox.com/s/py5992dskm...age55.pdf?dl=0 (scroll down to page 71 of 124)
Can you imagine paying a 2% tax on your gross income, just so where you work helps pay for the financing? That is verging on criminal.
I can virtually guarantee that the supporters of this monstrosity will not look into the details I outline here. Perhaps because they know by now when I document things, it is reality?