The Intro Tax Increment Finance Course offers an in-depth look at the guiding principles and appropriate application of TIF. This course brings TIF deal-making and best practices into focus through a two-day program targeting the entire TIF community including economic developers, public agency representatives, bond issuers, legal professionals, developers, financial advisors, and other stakeholders.
By attending, you will:
- Learn the building blocks of TIF and essential best practice principles
- Dissect TIF deals from start to finish including community buy-in, redevelopment planning, bond issuance and post-project monitoring
- Understand TIF bond issuance and mechanics
- Examine project- and district-based TIF approaches
- Explore the benefits of using special districts, credits and overlays
- Receive a copy of the Tax Increment Finance Best Practices Reference Guide
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You will learn through:
- Real life case studies
- Interactive, small group exercises
- Presentations from industry experts
- A comprehensive resource guide
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Topics covered include:
- The basics of TIF
- How to create a TIF
- Typical improvements
- Site-specific vs. district-wide approaches
- Addressing community buy-in
- Financing variations
- Credits and overlays
- Case studies
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Who should attend?
- Bond issuers
- Economic development professionals
- Community development professionals
- Broker, dealers and underwriters
- Elected officials
- Government and nonprofit finance officers
- Corporate trustees
- Legal counsel
- Underwriters
- Commercial bankers
- Accountants
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Course Advisor:
Tony Q. Smith, AICP is a Practice Leader with S. B. Friedman & Company, a development advisory firm based in Chicago’s Loop. Tony is a real estate analyst with experience in public/private deal structuring, negotiations, tax increment financing (TIF) analysis, New Markets Tax Credits, and area revitalization strategies. He has assisted municipalities such as the City of Chicago, City of Milwaukee, and suburban Illinois communities in creating TIF districts, negotiating TIF contributions to public/private deals, and evaluating TIF feasibility for a range of front funding instruments.
On behalf of the City of Chicago, he also led the process of successfully applying for a $100 million allocation of New Markets Tax Credits in the 2006 federal competitive round. He is currently assisting the City in implementing its New Markets program. Tony holds a Master’s in City Planning, a Post-Master’s Certificate for study in Transportation and Infrastructure Planning, and a B.A. in Urban Studies and Environmental Studies, all from the University of Pennsylvania. He is a member of the American Planning Association, the Urban Land Institute, and the Congress for the New Urbanism.
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The following is the preliminary agenda for this course. This agenda will be updated and modified slightly to accommodate speakers and content. However, the main areas of content as outlined in this agenda will be covered.
| 7:30 – 8:30 am | Continental Breakfast & Registration |
| 8:30 – 8:45 am | Welcome and Overview |
| 8:45 – 9:45 am | Setting the Stage: The Basics of TIF |
TIF has quickly become one of the nation’s most popular development finance tools. It is imperative for development finance professionals to have a solid understanding of how TIF works, to build a successful toolbox of financing programs. This session will focus on understanding what TIF is and why communities use it to achieve economic development objectives.
| 9:45 – 10:45 am | How a TIF is Created |
After understanding the basics of TIF, it is important to be familiar with the next step: How to create a TIF district or site-specific project. This session will discuss the necessary steps needed to establish a TIF and discuss best practice principles for managing their creation. It will also briefly discuss the difference between site-specific TIF districts and larger, area-wide TIF districts.
| 10:55 am – 12:00 pm | Typical Improvements |
As TIF has grown in popularity, it is important to understand what TIF can be used to finance. This session will look at the three main development opportunities TIF can help address including: infrastructure, site preparation and facility/amenity construction. Panelists will also provide insight on the use of tax-exempt financing and its unique relationship to TIF deals.
| 12:00 pm – 1:15 pm | Lunch on Your Own |
| 1:15 – 2: 30 pm | Site-Specific TIF Deal Start-to-Finish |
This session focuses on the processes and policy considerations for site-specific TIF projects. Common in many states, site-specific TIFs apply improvements to a particular site, structure or project. This team will address the criteria every community should be assessing before taking on a site-specific TIF such as: Does this project need assistance? How much assistance is appropriate? and address other important questions.
| 2:45 – 4:30 pm | District TIF Deals Start-to-Finish |
This session looks at the TIF district approach to applying increment financing. The session will walk participants through case study examples of how this form of TIF has worked in communities across the country and will address the entire TIF process. District-wide deals are complex by nature, often involving land assembly strategies, multiple phases and sometimes, environmental clean-up or demolition work. During this session, attendees will learn how to navigate common obstacles and engage developers in these deals.
| 8:00 – 8:30 am | Continental Breakfast |
| 8:30 – 10:15 am | The Most Overlooked TIF Element: Addressing Buy-in and Public Policy |
The TIF financing tool is designed to be an instrument to facilitate physical and economic, community improvements, however it also requires community input and political support. The buy-in process is one of the most important aspects of development, however it is frequently overlooked. This session explains how cities engage and incorporate input from citizens, business owners, school districts and neighboring or overlapping jurisdictions. Participants will also learn how these models can lead to greater community and economic development benefits. This session will address the need for consistent messaging as well as the need for clear public policies for an effective and efficient application of TIF.
| 10:30 am – 12:00 pm | Understanding TIF Bond Financing |
The financing mechanics behind using TIF can be complex, time consuming and financially significant. When applying TIF, it is important to understand the entire process behind using these bonds as well as other financing vehicles and how they differ from other revenue bond financing options. This session will help participants understand what elements are included in the bond rating processes and why most start-up TIF bonds are issued as “Not Rated”, discuss pricing and sales of bonds as well as the necessary on-going monitoring and continuing disclosure process. Panelist will also address the market characteristics that structure and shape these issuances and methods for increasing return and bond sales for specific projects. In addition, the rating agencies will discuss TIF deals from their perspective.
| 12:00 – 1:15 pm | Lunch On Your Own |
| 1:15 pm – 2:30 pm | TIF Financing Variations |
TIF mechanics are wide in scope. TIF financing is available using revenue or general obligation bonds, pay-as-you go financing, developer financing and combinations of various tools. This session will address how TIF deals can be financed in various ways outside of traditional tax increment-backed bonds. Presenters will discuss the typical sources for TIF repayments including: property tax, sales tax and special assessments.
| 2:45 – 4:30 pm | Case Studies: A look at TIF, Special Districts, Credits & Overlays |
Over the past thirty years, TIF has emerged as a popular financing tool. Today, TIF is used in 49 states and the District of Columbia. TIF can support a wide variety of development, including mixed-use, transit oriented development concepts and transformational projects, just to name a few. During this session, participants will learn about creative ways to use TIF, through lessons learned in other communities. Participants will also learn how TIF can be paired with other financing mechanisms, which mirror TIF in many ways, to provide similar financial benefits for achieving economic development goals. Across the country, communities are reinforcing TIF districts with special assessments and other economic development tools. Find out how this model has become the norm in many cities and states, which has lead to major urban, suburban and rural revitalization and investment.
The course will take place at the DoubleTree Washington DC in the heart of downtown Washington, DC. CDFA has negotiated a significantly reduced nightly room rate of $169 for course attendees. To reserve a room, contact the DoubleTree Washington DC at (202) 232-7000. All reservations for the CDFA block must be made over the phone for this course. The reduced room rate is guaranteed until July 16, 2010, as long as rooms are available. After this date, neither CDFA nor the hotel can guarantee this rate. Please reserve your room early, and be sure to mention CDFA when making your reservations.
The course hotel is located at:
DoubleTree Washington DC
1515 Rhode Island Avenue NW
Washington, DC 20005
Phone: (202) 232-7000
www.doubletreewashington.com
To register for the this course, click on the Register button below. To help maximize training opportunities, CDFA offers two separate courses during select weeks of the year. Individuals attending two courses in one week are eligible for a $100 dual-course discount. This discount will be reflected in the final total during the registration process.
| Early-Bird Registration | Standard Registration |
| Member | $550.00 | $600.00 |
| Non-Member | $675.00 | $725.00 |
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