In Saskatoon, SK, Canada: The city wanted to divert taxes collected for the public library, to build an overpass that would mainly benefit a new Wal-Mart.
In the face of widespread opposition, the city is preparing to back away from its proposal to divert library taxes into a south side interchange project.
The interchange plan for Clarence Avenue and Circle Drive has produced a hail of protest, with a large number of people complaining to the library and a lineup of ratepayers forming to blast city council for the idea.
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The city's plan is to share the cost of the interchange with developer First Pro, which is dealing with an unnamed anchor tenant widely believed to be Wal-Mart. First Pro is to contribute $2.8 million toward the $14-million cost. Another $1.7 million will come from the city's transportation expansion reserve, and the city will also apply an interchange levy.
That leaves $5.5 million unaccounted for, which was to be paid by diverting both municipal and library taxes into paying off the interchange over 15 years.
This would have amounted to about $550,000 a year, of which the library's share would have been about $50,000.http://www.canada.com/saskatoonstarphoenix/news/story.html?id=393ab831-eef3-4fc1-89fd-f784eb383beb&k=98849And here is some background on the project:
http://www.canada.com/saskatoonstarphoenix/news/local/story.html?id=c88cdabe-2d2b-4eb2-b9bb-01c8c779bc66(I love the acronym for that one: Should Exploitative Economics Persist? (ShEEP) :rofl:)
http://www.canada.com/saskatoonstarphoenix/news/business/story.html?id=d679eced-3642-4588-9927-ea8df2f7bef7&k=76914http://www.canada.com/saskatoonstarphoenix/news/forum/story.html?id=7357e909-66b1-41fc-89c8-8fdfe1f0600d