CollegeAvenueIndy.org came across a very interesting article that clearly illustrates the destructive redevelopment paradigm that we seem to be stuck in. The article coins the term "Privatization-Industrial Complex" to describe the cozy relationship between public tax dollars and private business interests. Here in Indianapolis, real estate speculators buy swaths of abandoned real estate from the City for pennies on the dollar. The speculators promise to to bring "job growth" and "economic development" so they can qualify for taxpayer-subsidized: community development block grants, green construction grants, brownfield clean-up grants, future property tax abatements, and low interest construction loans. They use the taxpayer-subsidized grants to develop the properties and then they sell the properties at a substantial profit for themselves. Shockingly, when the promised "job growth" and "economic development" fail to materialize, there doesn't seem to be any public outcry for accountability. In fact, there seems to be a veil of secrecy involving non-profit entities, neighborhood associations and complicit local media. This economic development model seems to repeat itself… Circle Center Mall, Lucas Oil Stadium, Banker's Life Field House, the Carmel Civic Center, Clay Terrace, the Julia M Carson Transit Center, and now the Red Line. If you pay careful attention, the same small group of local developers always seems to be feeding at the trough. Meanwhile, living conditions for regular folk here in our fair city are deteriorating noticeable. Our public schools rank among the worst in the country. Our infrastructure is crumbling. Violent crime is at a record-breaking pace in 2016 and we can't afford to hire more cops. The City is literally being bled to death by a shadowy parasite with a benevolent sounding name... economic development. Our tax dollars a re being siphoned off and the assets of our commonwealth including water, sewer, airport, and parking meters are being sold to private interests to to feed the growing economic development parasite. TIF (tax increment financing) funds are but another clever mechanism to feed the parasite and confuse the public. Folks, it's time to wake up and see the parasite in our midst before its too late. Click the below link for more information.