A Metro Council committee has approved a tax district for a $115 million development project in the Phoenix Hill neighborhood. The district would include a 130-room hotel, more than 350 housing units, 70,000 square feet of commercial space, and a parking garage. The project would agree to hire within the neighborhood, with priority to current and former residents and a wage floor of $15 an hour.

Voters at a special town meeting Monday approved a 10-year property tax relief agreement with Amazon for its proposed $300 million project. Amazon is planning to develop the approximately 100-acre site into a 2.8 million-square-foot robotics sortation warehouse. The TIF gives an $11.6 million real estate tax break to Amazon over 10 years for the project that is expected to bring the town $65 million in new revenue over 20 years.

A new distribution company that is expanding to Salt Lake City, is eligible to receive up to 15% of the additional state taxes that it will pay to Utah, but only under certain circumstances. In an effort to promote rural business development, the Utah Legislature has authorized economic development incentives to help companies expand to Salt Lake City, while bringing high-paying jobs to the community.

This article analyzes how money, politics, and social inequity collide in Omaha's greatest tool for public development. TIF is the city's most powerful tool to spur development. Since 2006, the city's subsidized more than half-a-billion dollars in development.

Slated to finish construction and open its doors in early 2022, Commongrounds Cooperative will have space for an independent coffee roaster, a local craft distillery, a food hall with a shared commercial kitchen for hourly rental, a childcare facility, a performing arts space, and 24 apartments — 18 of them below-market rate, serving various income levels. But what really makes Commongrounds Cooperative such an atypical project is who owns it and how it was financed.

To achieve the broader range of positive impact possible with place-based investments, policymakers at all levels should take an integrated approach to transformative placemaking, which enables them to design their strategies and evaluate their results more holistically. This report highlights how Michigan is using state policy to transform its places.

Golf courses associated with PGA Frisco will likely be supported by what some officials call the city's greatest financial tool. These zones, often called TIRZs, collect growth in property tax value of a certain area. Money generated within a TIRZ funds public improvements within the area without creating new taxes. Construction of three public golf courses and related facilities associated with the PGA costs $35 million. The TIRZ expansion would fund $19.1 million of that cost.

The city of Galesburg is preparing to dissolve a downtown tax increment financing district in place since the mid-1980s that has more than doubled the value of the project area. In all, 25 infrastructure and redevelopment projects have been funded for properties within Galesburg's TIF District 1 since 1985, including multiple projects for the Orpheum Theatre and Discovery Depot Children's Museum along with various businesses.

CDFA // BNY Mellon Development Finance Webcast Series: Affordable Housing Finance - Market Rate/Affordable/Low-Income
Tuesday, December 21, 2021 - 2:00 PM - 3:00 PM Eastern

Fundamentals of Economic Development Finance Course
January 26-27, 2022 - Daily: 12:00 - 5:00 PM Eastern

>>> VIEW THE TIF RESOURCE CENTER   

Federal, state, and local policies profoundly affect nearly every aspect of American neighborhoods, including their economic vitality, their shape and form, their social fabric, and their forms of self-governance. The conditions facing American communities in the years leading up to the COVID-19 pandemic did not appear out of thin air. They were the predictable result of decades of deliberate policy choices at all levels of government.

The Michigan Economic Development Corporation's (MEDC) focus on direct community investment is unique among its state-level peers. A strategy of MEDC Community Development Incentives (CDI) Programs is to identify and actualize place-based investment opportunities that may otherwise lie dormant without public support. The goals of place-based economic development programming include the betterment of neighborhoods and commercial corridors to attract occupancy and investment. MEDC asked Dynamo Metrics ("Dynamo") to quantify the impacts of these investments on nearby neighborhoods and commercial corridors.

>>> EXPLORE TIF RESOURCE CENTER