About

Advisory Services

Advocacy

Events

Membership

Sponsor

Education

Newsletters

Resources

×
Advanced Tax Increment Finance Course

Alaska Industrial Development and Export AuthorityBaker Tilly Virchow KrauseBallard Spahr LLPBNY MellonBricker & Eckler LLPBryan Cave LLPBusiness OregonCohnReznickFBT Project Finance Advisors LLCFrost Brown Todd, LLCHawkins Delafield & Wood LLPIce Miller LLPKeyBanc Capital MarketsKutak Rock LLPMB Financial Bank, NAMcCarter & English, LLPMcGuireWoodsNW Financial Group, LLCSB Friedman Development AdvisorsSquire Patton BoggsStern Brothers & Co.Stifel NicolausU.S. BankWells Fargo SecuritiesWilmington TrustZ. The Bond Buyer

-Overview

CDFA's Advanced Tax Increment Finance Course builds upon CDFA's Intro TIF Course by focusing more concretely on structuring the deal and developing short- and long-term policies. You will also learn about performance monitoring, feasibility analysis and using TIF in conjunction with other development finance tools.

This course qualifies for the CDFA Training Institute's Development Finance Certified Professional (DFCP) Program. Start down the road to personal and professional advancement today.

Course Objectives

  • Gain a greater understanding of the complexity of TIF projects
  • Break down and evaluate complex TIF concepts and project pro-formas
  • Review common components of model state TIF statutes
  • Examine critical TIF public policy elements for ensuring maximum program success
  • Understand the typical challenges faced when managing and monitoring active TIF districts
  • Discuss your TIF projects with industry experts
  • Receive a copy of CDFA's Advanced Tax Increment Finance Reference Guide

Topics Covered

  • Model Policies, Guidelines & Procedures
  • Understanding Your TIF Statute
  • TIF Process From A to Z
  • Assessing Project Feasibility
  • Performance Monitoring
  • Managing Active TIF Districts
  • Maximizing TIF By Combining Tools

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

Course Advisor

Mark Barbash Mark Barbash
Council of Development Finance Agencies
Senior Strategic Advisor
Mark Barbash is Senior Strategic Advisor for the Council of Development Finance Agencies, the national association representing nation’s leading and most knowledgeable members of the development finance community. With over 30 years of economic... (More)

-Agenda

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.

Day One

8:00 – 8:30 am EasternContinental Breakfast & Registration

8:30 – 9:00 amWelcome & Overview

Welcome participants to the Advanced Tax Increment Finance Course. During this time, we will introduce CDFA and set the stage for the two-day course.

9:00 – 10:00 amUnderstanding Your TIF Statute

Understanding your state’s TIF statute is essential to mastering the use of TIF as an economic development finance tool. We’ll look at common components of model TIF statutes from a variety of states. In addition, we’ll discuss issues related to the political process and recommended practices for formulating or revising a TIF statute.

10:00 – 10:15 amBreak

10:15 am – 12:00 pmModel TIF Policies, Guidelines, and Procedures

Ideally, TIF policies should be proactive but flexible. This session will cover the process of establishing a sound TIF policy and typical elements of effective guidelines and procedures. We’ll discuss what should and shouldn’t be included in TIF guidelines, consequences of not following guidelines, and issues related to transparency, due diligence and accountability.

12:00 – 1:30 pmLunch

1:30 – 2:45 pmTIF and the Capital Markets

Bonds are one of the most important methods by which TIF funds are made available to fund public and private improvements. This session will focus on the major types of TIF bonds, outline key considerations in successful TIF bond issuance, discuss bond market dynamics, and describe how the feasibility of TIF bonds can be enhanced by other tools such as backup special assessments.

2:45 – 3:00 pmBreak

3:00 – 4:30 pmPerformance Monitoring & Managing Active TIF Districts

It is important to understand the typical challenges faced when managing and monitoring active TIF districts. This session will address what you should expect once a TIF deal has been completed and why it is critical to maintain communications with bond investors and the community.

4:30 pmAdjourn

Day Two

8:00 – 8:30 amContinental Breakfast & Registration

8:30 – 8:45 amRevisiting Day 1

8:45 – 10:15 amTIF Feasibility Analysis and Underwriting

This session will cover three distinct but related elements of project feasibility and underwriting: a) Reviewing real estate market feasibility of a proposed TIF-funded project; b) Developing sound, conservative TIF revenue projections for use in sizing and structuring the transaction; and c) Assessment of the project “financing gap” to determine how much TIF is needed, and what deal structure is most appropriate. Speakers will discuss the technical issues of modeling TIF revenue and pro forma-based gap analysis.

10:15 – 10:30 amBreak

10:30 am – 12:00 pmTIF and the Project’s “Capital Stack

This session will focus on how TIF can fit into the overall financing structure of a project. Topics will include up-front versus “back ended” TIF funding arrangements, and the various methods of packaging TIF funding, including bonds, notes, and “pay as you go.” This session will wrap up with an overview of term sheets and development agreements—the key documents defining the TIF deal.

12:00 – 1:30 pmLunch

1:30 – 3:30 pmCase Study

The speakers will focus on a single TIF-funded project to illustrate many of the major concepts covered in the course. This will include such elements as a) the establishment of the district; b) why the project needed TIF; c) how the TIF assistance was applied for and public reviewed; d) deal structuring and feasibility considerations; and e) other lessons learned.

3:30 pmAdjourn

-Location


Check back for upcoming course dates or email CDFA to find out when this course will next be offered.

-Registration

This course qualifies for the CDFA Training Institute's Development Finance Certified Professional (DFCP) Program. Start down the road to personal and professional advancement today.