Friday, May 01, 2009

"Approving Prop. 2 won't discourage neighborhood development in Dallas."

Wrong, say Tod Ruble and Blaine Lee, of Harvest Partners, whose $750 million Park Lane mixed-use project received $20 million in tax-increment financing incentives from the City of Dallas.
"Many developers, especially those from outside North Texas, would likely look elsewhere rather than deal with the uncertainty that Proposition 2 would create," Ruble told Dallas Business Journal.
"I frankly don’t know how the citizenry could evaluate whether or not a project is practical."
Given this proposition's back story and its potential negative impact, The Dallas Morning News' editorial recommendation on Prop. 2 minced no words:
"This is arguably the most ill-conceived and punitive Dallas charter amendment ever to appear on a city ballot. It deserves to be soundly defeated."