4 ms·

Apple brazenly bribed the Waukee IA city council with $100m to abate $170m in property tax; screwing the school district/county/state. The Governor's right hand

by crb002 8y ago

Apple brazenly bribed the Waukee IA city council with $100m to abate $170m in property tax; screwing the school district/county/state. The Governor's right hand man then got an Apple gig for doing the bribe. If you or I bribed our city council $1000 to abate $1700 we would be in jail. For Tim Cook it is "tax efficiency".

seanmcdirmid 8y ago
Apple gave $100 million directly to city council members and no one batted an eyelid? Or did they give $100 million to the city? Those two things are very different accusations.
- TAForObvReasons 8y ago
  https://www.desmoinesregister.com/story/money/business/2017/08/24/apple-puts-faith-waukee-100-million-pledge/596775001/ https://www.desmoinesregister.com/story/money/business/2017/... > Apple Inc. pledged up to $100 million to Waukee under a multi-decade partnership announced Thursday during a visit from Apple CEO Tim Cook. > Waukee, in turn, will provide Apple with $194 million in tax abatement and infrastructure improvements. > Apple's $100 million investment in Waukee likely will be paid out over decades and go toward things like street and sidewalk projects and quality-of-life amenities like libraries and parks, Cook said. There are more details in the article, but it seems like the city is forgoing tax revenue with the understanding that Apple will be investing in the community.
  - jandrese 8y ago
    And if they don't follow through then, uh, is there any sort of enforcement on this? I've heard this story before. 20 years down the road the few people who remember the deal and try to find numbers on it discover that the company did almost nothing to hold up their end of the bargain once it was out of the spotlight.
- munificent 8y ago
  It's actually "up to $100 million" and the money is supposed to go to a civic "improvement fund": http://www.latimes.com/business/hiltzik/la-fi-hiltzik-apple-iowa-welfare-20170829-story.html http://www.latimes.com/business/hiltzik/la-fi-hiltzik-apple-...
- crb002 8y ago
  Property tax was $170m shared between the city, schools, county, and state. With Apple bribe the city gets $100m and the schools/county/state get $0.

by crb002 8y ago

seanmcdirmid 8y ago

Apple gave $100 million directly to city council members and no one batted an eyelid? Or did they give $100 million to the city? Those two things are very different accusations.

TAForObvReasons 8y ago
https://www.desmoinesregister.com/story/money/business/2017/08/24/apple-puts-faith-waukee-100-million-pledge/596775001/ https://www.desmoinesregister.com/story/money/business/2017/... > Apple Inc. pledged up to $100 million to Waukee under a multi-decade partnership announced Thursday during a visit from Apple CEO Tim Cook. > Waukee, in turn, will provide Apple with $194 million in tax abatement and infrastructure improvements. > Apple's $100 million investment in Waukee likely will be paid out over decades and go toward things like street and sidewalk projects and quality-of-life amenities like libraries and parks, Cook said. There are more details in the article, but it seems like the city is forgoing tax revenue with the understanding that Apple will be investing in the community.
- jandrese 8y ago
  And if they don't follow through then, uh, is there any sort of enforcement on this? I've heard this story before. 20 years down the road the few people who remember the deal and try to find numbers on it discover that the company did almost nothing to hold up their end of the bargain once it was out of the spotlight.
munificent 8y ago
It's actually "up to $100 million" and the money is supposed to go to a civic "improvement fund": http://www.latimes.com/business/hiltzik/la-fi-hiltzik-apple-iowa-welfare-20170829-story.html http://www.latimes.com/business/hiltzik/la-fi-hiltzik-apple-...
crb002 8y ago
Property tax was $170m shared between the city, schools, county, and state. With Apple bribe the city gets $100m and the schools/county/state get $0.