Why Fiscal Responsibility Starts with Responsibility to Taxpayers
  
Over a year ago, developer Brian O'Neill came to the Great Valley School Board asking for approval of Tax Increment Financing (TIF) in regard to his development at Uptown Worthington.  

GV Stakeholders opposed approval, with the following posted at that time:

As Brian O'Neill stated in the meeting, if he doesn't get the TIF request he will continue the development, but it will be a "pain in the neck" to get the financing.

With all due respect to Mr. O'Neill, we once again request that the School Board deny his request as it is not the taxpayers' responsibility to relieve his neck pain.

Ultimately, the GVSB voted down the TIF request.   As our web site stated:

This vote means that O’Neill Properties will not get their request to use part of their taxes to finance their project.

Philly.com:  Article posted today (1/28/10) in Philadelphia Inquirer:

"Developer Brian O'Neill sues Citizens Bank for $8 billion"

The PI article describes a contentious relationship between Citizens Bank, a major lender to O'Neill, and O'Neill Properties, including a substantial settlement against O'Neill involving the Uptown Worthington Project:

"In November, Citizens Bank secured a $61 million judgment against O'Neill in Montgomery County Court for default on an office-construction loan for his ambitious - and embattled - Uptown Worthington mixed-use project in East Whiteland Township, Chester County."   Philly.com, 01/28/10

The Philly.com article supports the wisdom of that decision by Great Valley School Board and GV Stakeholders' position that tax dollars not be used to support private real-estate development.  

 To read the complete article, click the link below:

http://www.philly.com/philly/news/homepage/20100128_Developer_Brian_O_Neill_sues_Citizens_Bank_for__8_billion.html