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chapelhillnews.com a3 Only Arizona and North Carolina require voter approval for self-financing bonds. The N C Local Government Commission, which includes the state treasurer, must approve any self- financing bonds Town Manager Cal Horton said the bonds would be just one more "tool in the tool kit" if voters approve Amendment One on Nov 2 "Now an economic development tool is utilized depends upon the philosophy of the community," he said "In our community, the philosophy has been to create an environment where businesses can be successful, but there is no tradition in our community of giving hand-outs." Developers of large, mixed-use developments Meadowmont and Southarn Village, for example, were required to pay for all the public improvements needed to support those projects, Still, the prospect of local tax dollars lining the pockets of developers is one of the chief concerns of those opposed to Amendment One. Both the libertarian John Locke Foundation and the liberal Common Sense Foundation have come out against the initiative Chad Adams, director for the Center for Local Innovation, an arm of the John Locke Foundation, said tax-increment financing is unnecessary and will increase public debt without the public's consent.. "This is a corporate giveaway," he said. "You're not doing necessary infrastructure for government, and who's to say development in struggling areas wouldn't come anyway?" David Milts, executive director of Common Sense, said other states have seen tax-increment financing misused Near Chicago, millions were given to Home Depot to support a development. "We are concerned that TIF creates bad jobs, mostly low-wage, service-sectorjobs,"Mills said. "It's just free extra money for big business." Foy agreed TIF isn't always appropriate. "To me, the question is, if you've already decided you're going to do something we're not debating whether to do ii, we're debating how to do it," he said "I think people should not confuse the merit of the project with how you finance the project." TIF has been touted as a good means for areas that have lost manufacturing jobs to rebound Adams points out that the other two times a TIF amendment has appeared on the ballot came after a recession. He said cities Tike Cleveland and Detroit have used TIF in an effort to boost sagging economies, but those places have not escaped tough times. "i'm not going to sit here and say all of them are bad and horrible,' Adams said. "I think we need to be http://www.chapelhillnews.com/news/v-printer/story/ 1727196p-7991250ahtml 10/ 13/2004