Supporters of the STAR bonds bill in Springfield are attempting to downplay concerns that it would "open the flood gates for STAR bonds everywhere." (Check out this previous post to learn more about how these newfangled development "tools" would allow developers to siphon off much-needed sales tax dollars.) Thankfully, Capitol Fax's Rich Miller -- who has watched this proposal like a hawk -- sets them straight:
[T]his would be such a lucrative law that Chicago, Rosemont and countless others will rush to cash in. Guaranteed. TIFs were supposed to be strictly limited, too, remember. Now, half of Chicago is in a TIF district.
In a cash-starved, clout-heavy state like our own, it's really hard to swallow the claims that STAR bond districts wouldn't start popping up all over the place -- particularly when they're coming from the developers themselves.