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heraldsun.com: printer-friendly story an option. a~ "I have come to realize there are very few checks and controls on keeping this new tool from being used less discriminatingly," she said, "I'm disturbed in general by the fact that it's not being billed as a tax instrument, but in the end, ifa project failed, the community could be stuck paying the bill. "If I thought it was a tool that would be only used in really desirable projects with a greater chance of success and a lot offail-safes, then I would be for it," she added, "But it seems to me that projects are getting done slowly but surely without [tax-increment financing]," Chad Adams, director of the Center for Local Innovation at the .Iolm Locke Foundation, is one of those raising strong objections to the amendment.. Adams, who also is a Lee County commissioner, said he didn't believe that cities and counties could "borrow their way to success," He argued that the state should look to lower personal and corporate taxes in the name of economic development, rather than allowing a financial tool that he described as essentially a subsidy for private ventures. Tax-increment financing "is not a panacea," he said. "It's another method by which local politicians can spend money without taxpayer approval, plain and simple, Instead, "if it's a good [redevelopment] project, take it to the voters," he said. "If you believe in it that strongly, pressure the Legislature to make it easier to hold a referendum," Links related to this article: The Herald-Sun's VoteBook: www.heraldsun,com/votebook/ iJRI, for dais article: http://www herald-sun com/orange/10-532204.Udn1 © Copyright 2004. All rights reserved. All material on heraldsun.com is copyrighted by The Durham Herald Company and may not be reproduced or redistributed in any medium except as provided in the site's Terms of Use. [~aclc] http://www,heraldsun.com/tools/printfriendly.cfm?StoryID=5.32204 10/13/2004