Crossroads Phase 2 a costly investment 

The Tax Incremental Financing for Phase 2 of the Crossroads Shopping Center will cost the city millions of dollars in revenue. The agreement calls for 100 percent reimbursement of sales tax dollars generated by the new businesses that will locate there, up to $3.1 million.

It was presented to seem that this will all be new revenue, so the city will not lose anything.

Unfortunately, they did not consider that there is only so much discretionary spending here in Meridian. There will not be increased sales dollars in the city; those dollars will just shift from other businesses, which are currently paying taxes.

One of the businesses that keeps being mentioned is Hobby Lobby. If it comes to Meridian, then every dollar that it gets from sales comes directly from Jo-Ann’s sales.

If Home Depot comes to town, every dollar they sell comes directly from Lowes.

The same is true for any new business.

Not just does it give back sales revenue that the new stores earn, Meridian will also lose revenue it is taking in right now from businesses that are already paying taxes and will pay less when their sales go down.

Meridian has enough empty buildings, an empty mall and another that’s half empty.

There is no need to subsidize additional construction when there is already plenty of space for any business that would like to grow in Meridian.

Other options can attract the same businesses as Crossroads Phase II without cutting city revenue that will undoubtedly eventually hit taxpayers.

Micheal Anderson

Meridian