KALAMAZOO (WKZO-AM) — An economist for the Upjohn Institute says he sees mostly good things coming out of a city plan to solicit donations to finance Kalamazoo.
Economist Jim Robey said anything that lowers the tax rate in the city, and makes it competitive with surrounding communities will boost interest in locating in the city. That includes residential, commercial and even industrial properties.
He said that means city property will be in demand, prices will go up and so will city revenues.
Donors have already put up $70 million for the first three years, and the plan would be to collect enough for an endowment fund to provide extra revenue after that.
