COMIDA = Christmas for some, Coal for everyone else.
COMIDA might mean food or meal in Spanish, but it also means early Christmas for retail business’ and lumps of coal for taxpayers.
Rochester City News (Moule) penned a good piece about COMIDA - and the Wilmorite tax give-away for Greece Ridge Mall. This paragraph nets out the argument well:
But should a retail project receive tax breaks? A lot of folks say no, and a now-expired state law prohibited it.
Here’s the rub, as critics see it: when the government bestows benefits on one retailer, it gives that retailer a competitive advantage and can hurt other businesses. It’s a zero-sum equation where the subsidized businesses siphon-off customers from other retailers, critics say. The economy doesn’t gain much, if anything, they say.
Jon Greenbaum pipes in:
“There’s only so many purses and shoes that are going to be sold in Monroe County,” says Jon Greenbaum, an organizer for Metro Justice and an IDA critic.
Retail businesses should locate based on demographics and market factors, critics says, and not based on which community cuts them the best deal.
Couldn’t agree more.
No COMIDA for retail. That expired state law? Might want to revisit it.
Oh, check out this paragraph in the article and file it in the I’ve been telling you department…
In Irondequoit, another company has plans to redevelop Medley Centre. The plans call for a mix of residential, commercial, and retail space, along with a hotel. While the developer hasn’t applied for COMIDA incentives, many observers expect that it’s only a matter of time.
Related posts:
The Medley Center project has applied for COMIDA assistance. The public hearing on this proposal is at the convienent time of 9:30 am Monday, December 29th at the Irondequoit Town Hall. COMIDA will vote on the proposal the next day in a “special meeting.”
I’m looking for help figuring this out.
doesn’t wilmorite owe back taxes on the sibley building? maybe they could use a tax break to help pay for that.
[...] COMIDA = Christmas for some, Coal for everyone else. [...]