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I know Harry Miley and the city better listen to a report they paid for. But they won't. Council wants this disaster and that is that. Do you honestly think the new council will vote to modify or scratch the entire debacle? No. The really sad thing is that the bonds will likely be backed by revenue from the utility enterprise fund and revenue from water and sewer services will be needed to pay off big bonds issued to pay for utility upgrades. Columbia is in real financial trouble. Period.

If Cola cannot backstop this Chinese paper (TIF bonds) with revenues from water and sewer, where will it come from? I suspect that the smoke spiraling from the vents on top of city hall is from an athanor (alchemical oven) used to transform at high heat base metals into gold and silver, and quartz into diamonds and emeralds. Council members and staff skilled at alchemy must be working overtime to produce the wealth needed to pay off these bonds when they are issued. That must be the source. What else can it be?

It would help to link the report to the article so the reader can determine for himself or herself how much value to place on the analysis.

I read in the State that USC has yet to spend nearly $90 million on Innovista. It has already spent millions and will throw millions of good money after bad. I believe that much TIF money will be involved with Innovista. Remember that TIF bonds are not paid back with money from tax exempt development but from private sector investment. Why I ask would private investors make sizable capital allocations in Columbia when the council's main goal is to spend ad valorem taxes on social programs and contribution agencies? I agree with Will that I would like to see the report but more than that I would like Free Times to put a copy of the Development Plan required by TIF legislation on its website so I can read it. Throw away Cussler and Rice, this would be exciting reading.

Hi, all: The report is now linked at the top of the article. Let me know your take on it. And Abcasia, do you mean the complete development plans put together by the city for the two TIFs? I have those; I'll see if I can get them online, too.