Article contentĪ TIF arrangement would typically see a city designate an area within which all or some of the property taxes collected are dedicated for a set period to paying off borrowing used to finance construction of the new public infrastructure. This advertisement has not loaded yet, but your article continues below.
His comments came after lengthy discussion of TIF.Īt its core, TIF relies on future property tax revenue expected to accrue from private development enticed to a district by construction of a large public amenity, like an arena or convention centre.
The committee also discussed council’s meeting calendar for 2024 and potential amalgamation of several of the city’s appeal boards.Ĭity CFO Clae Hack presented a report from accounting firm KPMG looking at various ways to pay back loans to finance building an arena without dedicated property tax increases.Īt one point, Mayor Charlie Clark set out to correct statements he said he’d seen in media reports suggesting that he or city council had promised an arena financing plan with no impact on citywide property taxpayers.Ĭlark said the goal is to create a plan that “absolutely minimizes the reliance on property taxes,” but suggested this is different than having absolutely no impact. This material may not be published, broadcast, rewritten or redistributed without permission.This week, significant discussion centred on tax increment financing (TIF), a tool cities can use to finance projects without increasing property taxes. national coach and won five NCAA Division I championships over 18 seasons at Virginia.Ĭopyright 2023 The Associated Press. United in 19 and with the Galaxy in 2011, 20. He has coached 14 seasons in Major League Soccer with the New York Red Bulls, D.C. The last was in 2014 when they lost to the LA Galaxy team coached by Arena. The Revolution have never won an MLS Cup, but have been to the finals five times. national coach, Arena succeeded Brad Friedel as coach and general manager Michael Burns. A five-time MLS Cup winner and former U.S. Curt Onalfo will continue as interim sporting director, filling a role Arena also held.Īrena was hired by New England in May 2019 and led the team to 60 wins, 31 losses and 42 draws in MLS. Richie Williams, a longtime Arena assistant, was appointed interim coach at the time of the leave, and the team said he will remain in that role. And while this has not been an easy decision, I am confident that it is in the best interest of both the New England Revolution organization and my family that we part ways at this time.” “I know that I have made some mistakes and moving forward, I plan to spend some time reflecting on this situation and taking corrective steps to address what has transpired. “The investigation has been a hard and difficult process, for me and my family, but hearing from so many who have been part of my career truly has been gratifying and has helped make this decision easier,” he said in a statement released by the team. MLS did not detail its findings except to say in a statement that the probe “confirmed certain of these allegations.” The league said if Arena wants to accept a future position within MLS, he must petition the MLS commissioner. National Soccer Hall of Fame, did not detail the allegations.
– Bruce Arena quit as coach of the New England Revolution on Saturday night, six weeks after he was placed on administrative leave by Major League Soccer for what it said were “allegations that he made insensitive and inappropriate remarks.”
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