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Intro Tax Increment Finance Course
August 9-10, 2018
Pittsburgh, PA

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

-Overview

Apply for a scholarship

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. 

This course qualifies for the CDFA Training Institute's Development Finance Certified Professional (DFCP) Program. Participants may register for one, two, or three courses during CDFA Summer School. Complete three courses, and you will have fulfilled half of the requirements for the DFCP Program. Join us in Pittsburgh, and start down the road to personal and professional advancement today.

The schedule for CDFA Summer School is outlined below. Click on the course name to learn more about the topic and agenda:

CDFA Summer School: Course Schedule

Monday
August 6, 2018
Tuesday & Wednesday
August 7-8, 2018
Thursday & Friday
August 9-10, 2018


Register

Course Objectives

  • 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

Topics Covered

  • 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

Who Should Attend?

  • Bond Issuers
  • Economic Development Professionals
  • Community Development Professionals
  • Developers
  • Broker/Dealers and Underwriters
  • Elected Officials
  • Government and Nonprofit Finance Officers
  • Attorneys
  • Accountants
  • Financial Advisors
  • Policy Makers

Course Advisor

Darnell Moses Darnell Moses
Allegheny County Economic Development
Administrator
Darnell Moses previously managed the day-to-day responsibilities of the six municipal authorities under the umbrella of the Allegheny County Department of Economic Development. The authorities included the Redevelopment Authority of Allegheny... (More)

-Agenda

Thursday, August 9, 2018

Thu 8:00 AM - 8:30 AM
Breakfast & Registration
Thu 8:30 AM - 9:00 AM
Welcome & Overview
Welcome participants, introduce CDFA and set the stage for the Course.
Speaker(s)
  • Darnell Moses, Administrator, Allegheny County Economic Development
  • Toby Rittner, President & CEO, Council of Development Finance Agencies
Thu 9:00 AM - 10:00 AM
Setting the Stage: The Basics of TIF
TIF is perennially one of the nation’s most effective and popular development finance tools, but also one of its most misunderstood and controversial. As such, 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.
Speaker(s)
  • Toby Rittner, President & CEO, Council of Development Finance Agencies
Thu 10:00 AM - 10:15 AM
Break
Thu 10:15 AM - 12:00 PM
TIF Legal & Procedural Nuts & Bolts
Creating a TIF district, whether for a larger long-term redevelopment of an area or for an individual site/project, requires an understanding of the legal, technical, policy, and strategic issues related to TIF in your state along with careful attention to detail. This session will look at the legal and procedural nuts and bolts of creating a TIF along with the main types of development activities that TIF can fund and district vs. site-specific considerations. This session will also cover the similar considerations associated with setting up a special assessment district—a related tool that is increasingly being used in combination with TIF.
Speaker(s)
Thu 12:00 PM - 1:30 PM
Lunch on Your Own
Thu 1:30 PM - 3:15 PM
TIF Financing Variations
TIF is a very flexible tool, with multiple variations as to the specific revenue sources it can generate and the different ways these revenues are used to support project financings. Presenters will discuss the typical sources for TIF repayments including: property tax, sales tax, and special assessments. The range of ways in which TIF funds can be made available to fund projects during or after construction will also be addressed, including “pay-as-you-go,” developer financing, revenue notes, standalone TIF revenue bonds, and TIF bonds combined with or enhanced by other funding sources. This session will also cover how to establish special assessment districts for additional financing.
Speaker(s)
  • Emily Metzler, Senior Vice President, MuniCap, Inc.
  • Chris Sheehan, Director, Stifel Nicolaus & Company, Inc.
  • Maurice Strul, Assistant Director, Special Projects and Finance, Allegheny County Economic Development
Thu 3:15 PM - 3:30 PM
Break
Thu 3:15 PM - 4:30 PM
The Most Overlooked TIF Element: Addressing Buy-in and Public Policy
TIF is designed to be an instrument that facilitates physical and economic improvements that combat blight and disinvestment and support community revitalization. As a taxpayer funded tool that impacts the local development landscape, TIF use requires community input and political support—aspects that are among the most critical to a TIF program’s success but all-too-often overlooked. This session explains how cities engage and incorporate input from citizens, business owners, school districts, and neighboring or overlapping jurisdictions as they design and administer TIF programs.
Speaker(s)
  • Michael Pehur, Development Finance Consulting Director, Duane Morris Government Strategies
  • Maurice Strul, Assistant Director, Special Projects and Finance, Allegheny County Economic Development
Thu 4:30 PM
Adjourn

Friday, August 10, 2018

Fri 8:00 AM - 8:30 AM
Breakfast & Registration
Fri 8:30 AM - 8:45 AM
Revisiting Day 1
Fri 8:45 AM - 10:00 AM
The Basics of TIF Underwriting and Deal-Making
Underwriting and structuring are critical elements of any TIF transaction, with significant effects on the project’s chances of success or failure. Due to TIF’s role as a public financing source, the underwriting process can also become heavily intertwined with public decision-making about TIF projects. The panelists will provide an introduction to the three main components of TIF underwriting: market analysis, TIF revenue projections, and financial feasibility/”gap” analysis. They will also discuss core elements of a TIF deal, including term sheets, deal components, and development agreements.
Speaker(s)
Fri 10:00 AM - 10:15 AM
Break
Fri 10:15 AM - 12:00 PM
Understanding TIF Bond Financing
This session will focus on one of the core methods by which TIF revenue streams are monetized to fund project costs: bonding. The panelists will discuss the process and mechanics associated with these bonds, and the various considerations that go into when and how to bond. The panelists will also discuss changing market dynamics for TIF bonds, and the key characteristics that make a TIF bond marketable.
Speaker(s)
Fri 12:00 PM - 1:30 PM
Lunch
Fri 1:30 PM - 3:30 PM
Combining & Leveraging TIF with Other Tools
During this session, participants will learn how TIF can be paired with other complementary financing mechanisms to solve difficult gap financing challenges and improve project feasibility in today’s challenging development climate. Across the country, communities are reinforcing TIF districts with special assessments and combining TIF with tax credits, tax-exempt bonds, subordinate loan programs, and other federal tools such as HUD 108. During this session, participants will learn about these creative ways to use TIF and how they can facilitate successful financing of high-impact revitalization projects.
Speaker(s)
  • Caleb Bell, Partner, Bricker & Eckler LLP
  • Emily Metzler, Senior Vice President, MuniCap, Inc.
  • Michael Pehur, Development Finance Consulting Director, Duane Morris Government Strategies
Fri 3:30 PM
Adjourn

-Location


CDFA Summer School will be held at the Renaissance Pittsburgh Hotel which is located in downtown Pittsburgh's vibrant cultural district.

Renaissance Pittsburgh Hotel
107 6th Street
Pittsburgh, PA 15222
Phone: 412-562-1200

>>>Reserve your room today

CDFA has arranged a significantly reduced room rate of $179.00 (plus tax) per night for a standard room (single or double occupancy). A select number of hotel rooms are available from August 6-11, 2018 at the reduced rate if reservations are made before July 13, 2018. This rate is not guaranteed if reservations are made after the cut-off date or if the hotel is sold-out. Please reserve your room early. For individual reservations call 412-562-1200 and reference CDFA Summer School.

-Registration

This course will be offered at CDFA Summer School. CDFA Summer School is a week long series of courses presented by the CDFA Training Institute. Participants may register for one, two, or three courses during CDFA Summer School.

Scholarships are available to attend this event. Learn more about the CDFA Scholarship Program, and submit your application today.

Register before July 13, 2018 for Early-Bird Rates.

When you register for three courses during CDFA Summer School, you will receive a $200 discount off the total registration fee.

Click the Register button to view the total fees and discounts available for CDFA Summer School.
Early Bird Rates
(Ends July 13)
CDFA Member: $350
Non-Member: $500
Standard Rates
(After July 13)
CDFA Member: $400
Non-Member: $550


Register