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CDFA Tax Increment Finance Update - May 28, 2024

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Tax Increment Finance Update
May 28, 2024
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Tax Increment Finance Update

Features

Join CDFA for Our Upcoming Intro Tax Increment Finance WebCourse
Register for CDFA's Intro Tax Increment Finance (TIF) WebCourse taking place on June 26-27. Join us to learn the guiding principles and appropriate application of TIF. Our panel of expert instructors will discuss TIF deal-making and best practices highlighted by projects from around the country.

Tax District Sought to Boost Businesses Near Pangborn Airport, East Wenatchee, WA
The Chelan Douglas Regional Port Authority is moving forward with a mechanism for building infrastructure near Pangborn Airport to draw businesses to the area. The Port has plans to form a Tax Increment Finance (TIF) district to build utilities and roadways that are lacking in the Pangborn Airport area.

It's Time to Register for the 2024 CDFA Summer School!
CDFA Summer School is a 2-week long virtual series of courses designed to help you accelerate your development finance education, with a curation of seven different training courses to choose from. Don't miss the opportunity to learn from our expert practitioners and experience CDFA's most interactive educational event of the year! Register today!

Project to Turn Empty Kalamazoo, MI Office Building into 82 Apartments
Project leaders are working to turn a vacant building at 203 Rose St. into a mixed-use building with 82 housing units and a restaurant. The building used to be an office building, according to a memo from the Michigan Economic Development Corporation, but it emptied due to the pandemic.

CDC Approves $14M TIF for Oak/Larrabee Chicago, IL
The Community Development Commission (CDC) has approved $14 million in Tax Increment Financing (TIF) for a mixed-income residential development at 993 N. Larrabee. Planned by Brinshore Development and The Michaels Organization, the project site is located at the southeast corner of W. Oak St and N. Larrabee St.

Moorhead, MN City Council Establishes TIF District for Former Moorhead Center Mall
The site where the former Moorhead Center Mall once sat may now see a revitalization. The Moorhead City Council approved the development of a Tax Increment Financing (TIF) district. The redevelopment will span approximately nine city blocks and will turn the site into a redeveloped area that will provide residents and visitors amenities year-round to live, work, relax, learn, and be entertained.

Redevelopment Agreement Approved for Project in South Lexington, NE
The Lexington City Council approved a redevelopment plan for land in the southwest corner of Plum Creek Parkway and Cattlemens Drive. The development is estimated to cost around $3.4 Million and sought Tax Increment Financing (TIF) to make it feasible.

Waukee Approves Habitat for Humanity's First Affordable Townhome Project in Iowa
Waukee has given Greater Des Moines Habitat for Humanity approval to build the nonprofit's first townhomes in Iowa. The affordable townhomes will be built on a 13.6-acre parcel at North Warrior Lane and Northeast Douglas Parkway that Waukee has been trying to develop for years.

Upcoming Events
Intro Tax Increment Finance WebCourse

CDFA-Bricker Graydon Webinar Series: Catalyzing Transformative Redevelopment with TIF
June 11, 2024 - 2:00 PM - 4:00 PM Eastern
Speakers on this event will present the basics of how these tools work and provide case studies highlighting how PACE and special assessment financing can be paired to create more environmentally sustainable projects.

CDFA // BNY Mellon Development Finance Webcast Series: Impacts of Inflation on Bond Yields, Arbitrage, and Rates
June 18, 2024 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, panelists will walk through the impact of rate hikes on yield and arbitrage and share best practices for managing these impacts.

Tax Increment Finance News

Ocean Springs, MS Board of Aldermen Approves Creation of TIF District
WLOX | May. 21 | Community Development | Economic Development | Tax Increment Finance (TIF)

Aldermen Narrowly Approve Amended TIF South in Quincy, IL
Muddy River News | May. 21 | Community Development | Economic Development | Tax Increment Finance (TIF)

Spokane, WA City Council Considers Funding Options for Latah Valley Infrastructure
The Center Square | May. 16 | Community Development | Infrastructure Finance | Tax Increment Finance (TIF)

Tax Incentive Sought by Potential Major Employer in Bedford, MA
The Bedford Citizen | May. 15 | Community Development | Economic Development | Tax Increment Finance (TIF)

Peoria, IL City Council Approves Tax-Based Economic Development Plans for Riverfront
25News Now | May. 14 | Community Development | Economic Development | Tax Increment Finance (TIF)

City of Madison, WI TIF Funds Keep Construction of Hundreds of Affordable Units on Track
City of Madison | May. 14 | Community Development | Economic Development | Housing Finance | Tax Increment Finance (TIF)

Medpace Lands Massive Incentive Deal to Keep Expanding in Madisonville, OH
Local 12 | May. 14 | Economic Development | Healthcare | Tax Credits | Tax Increment Finance (TIF)

Danville, IL Council News: TIF Adjustment Aimed at Downtown Residential Possibilities
Vermilion County First | May. 14 | Community Development | Economic Development | Housing Finance | Tax Increment Finance (TIF)

TIF District Approved for North Rapid, SD Development
SDPB | May. 10 | Community Development | Economic Development | Housing Finance | Tax Increment Finance (TIF)

Florida Aquarium Approved for $15M in CRA Funding for Redevelopment Project
WTSP | May. 9 | Community Development | Economic Development | Tax Increment Finance (TIF)

New TIF District Approved at Decatur, IL City Council Meeting
Yahoo! News | May. 7 | Community Development | Economic Development | Tax Increment Finance (TIF)

Waco, TX City Leaders Discuss Possible $130M Riverfront Funding
KWTX | May. 7 | Community Development | Economic Development | Housing Finance | Tax Increment Finance (TIF)

Decatur, IL City Council Renews Abandonment to Rehab Program, Establishes TIF District
Decatur Tribune | May. 7 | Community Development | Housing Finance | Tax Increment Finance (TIF)

Rep. Wolgamott's TIF for St. Cloud, MN Included in House Tax Proposal
Minnesota House of Representatives | May. 3 | Community Development | Economic Development | Tax Increment Finance (TIF)

Chicago, IL Plans to Scale Back Use of Tax Increment Financing
The Real Deal | May. 1 | Access to Capital | Bond Finance | Tax Increment Finance (TIF)

Omaha, NE Officials Gave Green Light to 23 Projects Representing $129M in TIF Loans
Nebraska Examiner | Apr. 30 | Community Development | Economic Development | Tax Increment Finance (TIF)

Bloomington, IL Holds Public Meeting on TIF Redevelopment Plan for Downtown
WGLT | Apr. 29 | Community Development | Economic Development | Tax Increment Finance (TIF)

Omaha, NE City Council Approves Amendment for Crossroads Redevelopment Project
KETV | Apr. 24 | Community Development | Economic Development | Housing Finance | Tax Increment Finance (TIF)

Union Pier Could be Next Tax Increment Financing District in Charleston, SC
WCBD | Apr. 23 | Community Development | Economic Development | Tax Increment Finance (TIF)

Billings, MT City Council Approves Tax Increment Financing for Brewery
KTVQ | Apr. 23 | Community Development | Economic Development | Food Systems Finance | Tax Increment Finance (TIF)



The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private and non-profit entities alike. For more information about CDFA, visit www.cdfa.net or e-mail info@cdfa.net.


Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net

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