CDFA Tax Increment Finance Update - August 22, 2023

Having trouble viewing this newsletter? View it online.
Tax Increment Finance Update August 22, 2023	Subscribe View Archives

Features

Bricktown Boardwalk Project Moves Forward in Oklahoma City, OK

The Bricktown Boardwalk project is moving forward. It could become one of Oklahoma City's largest tax increment financing agreements. The $736 million development would include housing, a hotel, retail space, as well as two underground parking garages. The 25-year tax increment funding proposal offers up to $200 million in property tax rebates and up to $5.5 million in sales tax rebates.

Whiteland, IN Approves 2nd $7.3M TIF Bond for Patch Mixed-Use Development

Construction on a massive mixed-use development in Whiteland started a year ago, and now developers say they are ready to move to phase two. The Whiteland Town Council approved a $7.3 million bond to finance the second part of the Gateway at Whiteland mixed-use development. Both bonds will be paid back entirely with money from tax increment finance (TIF).

$2B Brookridge Redevelopment in Kansas City, MO Starts Construction with TIF

Work has started on the long-stalled $2 billion Brookridge redevelopment, nine years after the Overland Park project was proposed. The 20-year tax increment finance (TIF) agreement will redirect increases in property taxes to pay for development costs, and the CID allows for an additional 1.5% sales tax in the district.

900 Apartment Units Planned at Wauwatosa, WI's Mayfair Mall with TIF

Wauwatosa officials revealed plans to build a total of 906 apartment units through a $57.9 million development plan for the former Boston Store at Mayfair Mall. City officials proposed a new tax increment district (TID), which will be reviewed by the Joint Review Board.

Darwin Elementary's $10M Renovation Is Underway in Chicago, IL Thanks to TIF

Construction crews have taken over Darwin Elementary, bringing upgrades to the Logan Square school. The City Council signed off on the massive renovation by allocating $10 million in tax increment finance (TIF) to the neighborhood restoration project, clearing the way for construction.

TIF Proposed for Carpenter Warehouse Renovations in Des Moines, IA

A proposed historic renovation of a downtown Des Moines warehouse building would receive up to $6.4 million in financial incentives from the city under a development agreement. The proposed $21.9 million renovation also includes landscaping and parking lot improvements. The proposed tax increment financial (TIF) incentive would be paid over 20 years,

Downtown Denison, TX Project Financed with TIF

The City of Denison cut the ribbon to celebrate the completion of phase one of the Designing Downtown Denison project. The $18 million makeover was funded through a tax increment reinvestment zone. This is the first of three phases that will eventually revitalize Main Street from Houston Avenue to Armstrong Avenue.

Upcoming Events

CDFA Food Systems Finance Webinar Series: Investment Tools & Food Systems
August 29, 2023 - 2:00 PM - 3:30 PM Eastern

In this installment of the CDFA Food Systems Finance Webinar Series, we explore how programs at the state and federal levels can offer unique financing solutions and catalyze investment in local and regional food systems.

CDFA Minority Capital Loan Guarantee Program: Behavioral Change Strategy Workshop
September 7, 2023 - 1:00 PM - 4:00 PM Eastern

The CDFA Minority Capital Loan Guarantee Program: Behavioral Change Strategy Workshop will provide development finance agencies (DFAs) enrolled in the second tranche of the Program with detailed instruction and guidance geared toward the development of their behavioral change strategies. The workshop will also include an equitable lending presentation and a discussion of best practices for unlocking capital for underserved borrowers.

Tax Increment Finance News

>>> VIEW THE TIF RESOURCE CENTER

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