[Electronic-lan] Info on Lawrence Opportunity Zones + Crisis of democracy in Lawrence

Thu Jan 17 17:57:19 CST 2019

--- “However, the City still maintains all of its land use, zoning and other controls over a project.”

NO FEDERAL REGULATION/OVER-RIDE TO CIRCUMVENT LOCAL REGULATIONS AND SUCH?

--- “Again, related to the timeframe we were working within, City staff and our economic development partners were involved in the discussion leading to the correspondence on the original suggested tracts. “   WHO ARE THE PARTNERS?

--- “The Opportunity Zone designation provides a tax incentive for the reinvestment of unrealized capital gains into investments into a qualified Opportunity Fund, relating to investment within the Opportunity Zone areas. “ 

CAN THIS OPPORTUNITY FUND BE APPLIED IN ADDITION TO OTHER “TAX INCENTIVES” ?   IF SO HOW DO ANY OF THE INCENTIVES WORK FOR THE TAXPAYERS?

    On Wednesday, January 16, 2019, 4:36:07 PM CST, Robert Sands via Electronic-lan <electronic-lan at lists.ku.edu> wrote:  

 Eric,Great points, all.  I'm looking forward to the discussions on policy ideas.
On Wed, Jan 16, 2019, 12:08 Eric Kirkendall via Electronic-lan <electronic-lan at lists.ku.edu wrote:

Hi, I would like to share a few thoughts re our agenda item, "Identify Issues we expect to address this year", and background for the "Opportunity Zone" agenda item.  Thanks, Eric
A crisis of democracy
Regarding our agenda item, "Identify Issues we expect to address this year", I think we are facing a crisis of democracy in Lawrence, and should address it.
In spite of having a great City Commission which should be making key decisions with neighborhood and resident input, city employees have taken over decisionmaking on many key issues, with no public notice until the decision is a fait accompli.
Three examples:
1, The city started dumping nitrates into the Kansas River without a vote by the City Commission. The City Commission did not know it was underway until a citizen asked about it at a City Commission meeting
2, City employees decided not to accept an opportunity for the city to use all-renewable wind energy and save huge amounts of money, apparently without even notifying the City Commission of the option. City officials explain why Lawrence didn’t take Westar’s offer of wind energy, LJW
3, Without notice to or a vote of the City Commission, or any involvement with landowners and residents, but in coordination with non-resident "economic development partners", city employees caused all of East Lawrence, all of Brook Creek, and part of the Barker neighborhood to become part of an Opportunity Zone.
To me, there are at least two key issues here, sharing information with residents, and providing opportunities for input.  In many cases, we are getting neither.  I think the LAN should consider taking the lead on addressing this issue, and demanding that the City Commission make key decisions, with input by residents and neighborhood organizations.
Opportunity Zone references and resources
As background for our Opportunity Zone agenda item, I pasted a few references below.
The Lawrence Opportunity Zones, as designated by the Governor
Discussion of the East Lawrence, Brook Creek, & Barker "Opportunity Zone" (Public Facebook Group)
Will Opportunity Zones help distressed residents or be a tax cut for gentrification?, Brookings Institute"Supporters say this will help revitalize distressed communities, but there is a risk that instead of helping residents of poor neighborhoods, the tax break will end up displacing them or simply provide benefits to developers investing in already-gentrifying areas."
How Opportunity Zones Benefit Investors and Promote Displacement, Institute on Taxation and Economic Policy“... additional investment driven by opportunity zones could have the unintended effect of fueling higher real estate prices that serve to displace low-income citizens and businesses rather than benefit them."
Opportunity zones: vital community development tool or tax windfall for the rich?, Curbed"...some policy analysts call it a loophole-riddled windfall for the ultra-rich that won’t lead to additional development but just make developments already in progress that much more profitable for investors."
Opportunity Zones: What We Know and What We Don’t, Tax Foundation'Research suggests place-based incentive programs redistribute rather than generate new economic activity, subsidize investments that would have occurred anyway, and displace low-income residents by increasing property values and encouraging higher skilled workers to relocate to the area.'
'While opportunity zones present certain budgetary and economic costs, it is unclear whether opportunity zone tax preferences used to attract investment will actually benefit distressed communities.'
An Unlikely Group Of Billionaires And Politicians Has Created The Most Unbelievable Tax Break Ever, Forbes“If everything goes right, a big slice of the estimated $6.1 trillion of paper profits currently resting on American balance sheets is about to go to work to revitalize America’s depressed communities. If all goes wrong, however, it will prove to be one of the biggest tax giveaways in American history, all in service of gentrifying neighborhoods and expelling local residents.”

New tax breaks could lift distressed areas — or become a big, gentrifying tax giveaway, Twincities.com"Cities such as Minneapolis have signaled to the investment community that they’re seeking O-Zone projects that deliver a social good, such as affordable housing, rather than upscale housing."
Regards,
Eric Kirkendall785-550-3408------------------------------------------------------------------------------------------- 

> On Jan 14, 2019, at 1:50 PM, Courtney Shipley via Electronic-lan <electronic-lan at lists.ku.edu> wrote:
> 
> Hello, Everyone!
> 
> Join us Wednesday evening for the first LAN meeting of 2019. REMEMBER TO PAY YOUR DUES FOR THE YEAR. It is $25 for neighborhoods and $5 for individuals.
> 
> Please take a moment to tell us if you'd like the regular meeting time to change by taking this Doodle poll. Several people have had conflicts with the third Wednesday of the month. Click the link below and tick the days of the month that work for you.
> https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fdoodle.com%2Fpoll%2F2wxrbx95ddzyqfe9&data=02%7C01%7Celectronic-lan%40lists.ku.edu%7C8b2653723f50443631c608d67cd78934%7C3c176536afe643f5b96636feabbe3c1a%7C0%7C0%7C636833662497648968&sdata=NFESPLV0l93NBZirlv%2F8ca3vcljiNHlLw0NSgjJgN4Q%3D&reserved=0
> 
> Please also take a moment to review the LAN Mission Statement.
> https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Flawrenceneighborhoods.wordpress.com%2F&data=02%7C01%7Celectronic-lan%40lists.ku.edu%7C8b2653723f50443631c608d67cd78934%7C3c176536afe643f5b96636feabbe3c1a%7C0%7C0%7C636833662497658973&sdata=EKNC0EzKz2Lgsso7S9qsl2uEeIfdILetdbZQWpXR58A%3D&reserved=0 
> 
> Also review the Policy Document. 
> https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Flawrenceneighborhoods.wordpress.com%2Flan-policy-document%2F&data=02%7C01%7Celectronic-lan%40lists.ku.edu%7C8b2653723f50443631c608d67cd78934%7C3c176536afe643f5b96636feabbe3c1a%7C0%7C0%7C636833662497658973&sdata=AwoZqTbxH7WyS%2BZcMnRFfbBJYIOCXUgkY6tXMV19GSo%3D&reserved=0 ?
> 
> As well as The Constitution and By-Laws for discussion.
> https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Flawrenceneighborhoods.wordpress.com%2Flan-constitution-by-laws%2F&data=02%7C01%7Celectronic-lan%40lists.ku.edu%7C8b2653723f50443631c608d67cd78934%7C3c176536afe643f5b96636feabbe3c1a%7C0%7C0%7C636833662497658973&sdata=eZeomKsznw9sFbsIrWQgbAV%2FUY2l37o9zP6luIrdDjs%3D&reserved=0
> 
> See you all soon!
> Courtney Shipley, Chair 
> 
> 
>   Lawrence Association of Neighborhoods Agenda 
> Lawrence Public Library  
> January 16th, 2019 7:00 p.m.
>                                               
>  Introductions
> 
> Accept minutes from December                                          
> 
> Treasurer?s Report: Cindy Suenram/Edna Mosher
> Don?t forget to pay your dues for 2019
> 
> Update from City Planning Department: Becky Pepper, city planner 
> 
> Neighborhood reports
> 
> Discussion of possible Opportunity Zones in Brook Creek, East Lawrence, and Barker neighborhoods.
> 
> Identify Issues we expect to address this year
> 
> Review the LAN Mission Statement, Policy Document, and Bylaws. 
>      Discuss whether updates are needed. 
> 
> <Jan 2019 LAN Agenda.pdf>
>
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