CDFA Tax Increment Finance Update - December 24, 2019
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Features |
CDFA Legislation to Modernize Private Activity Bonds Introduced in Congress
The Council of Development Finance Agencies (CDFA) is pleased to announce that Representatives Stephanie Murphy (D-FL) and Darin LaHood (R-IL) have introduced the Modernizing Agricultural and Manufacturing Bonds Act (MAMBA) in the U.S. House of Representatives as H.R. 5422. MAMBA would modernize the Internal Revenue Code (IRC) as it relates to small issue bonds, specifically the private activity bond rules for first-time farmers and manufacturing bonds.
Columbus, IN Redevelopment Commission Agrees to $567K Riverfront Contract
The $567,300 contract approved by redevelopment commission will keep the project moving forward through its completion. The project is funded primarily through tax increment financing, or TIF funds, which are received on commercial and industrial properties within the TIF district.
Arlington, TX City Council Approves $810M Development Project
The Arlington City Council voted to approve an $810 million expansion of the city's Entertainment District, which would include another Lowe's hotel and a new convention center.
How Zionsville, IN Plans to Pay for Trails, Amphitheater, and More
The Zionsville Redevelopment Commission wants to create a tax increment financing district at Holliday Farms to help pay for a pedestrian bridge, walking trails, an amphitheater and infrastructure at the nearly 600 acre mixed-use development. If the TIF district is approved, the various projects could collectively cost about $20 million.
Greenbrier County, WV Commissioners Approve Issuing up to $20M in TIF Bonds
Greenbrier County Commissioners have authorized the issuance of up to $20 million in tax increment revenue bonds. The funds thus raised will be used for infrastructure projects that will benefit the White Sulphur Springs TIF District, a geographic area that also encompasses the unincorporated community of Caldwell and other acreage in and around the Spa City.
Shawnee, KS Approves Revised Redevelopment Agreement, Smaller TIF Plan
The revised $90.2 million mixed-use redevelopment plan includes an estimated $15.2 million from a tax increment financing, $9.6 million from sales tax on a community improvement district for the project site, and $3 million in sales tax exemption from industrial revenue bonds issued for the project. The original plan was a $113.3 million project with $31.9 million in public funding.
St. Paul, MN City Council Approves $53M in TIF for Ford Site
The St. Paul City Council voted 7-0 on Wednesday night to approve $53 million in tax diversion at the former site of the Ford Motor Co.'s Twin Cities Assembly Plant in Highland Park. The 26-year tax increment financing agreement will effectively allow the master developer, the Minneapolis-based Ryan Cos., to devote more than $2 million annually toward the cost of new city-owned infrastructure at the 122-acre site, money that would otherwise flow to the city's general fund.
$400M Waterfront Revitalization Project Set to Solve Major Challenges in Pawtucket, RI
A $400 million development plan for the downtown should take care of three of the city's most problematic properties when it comes to revitalizing the waterfront. The Pawtucket Tax Increment Financing district legislation passed by the General Assembly in June and the federal opportunity zone designation for the proposed project area are two major factors in making this project feasible.
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Upcoming Events |
Fundamentals of Economic Development Finance WebCourse
January 29-30, 2020 - Daily: 12:00 - 5:00 PM Eastern
The Fundamentals WebCourse is the foundation for all of CDFA's educational offerings. This course helps attendees understand the variety of development finance tools available, from bonds, tax credits and TIF, to federal financing programs, RLFs, and access to capital lending resources.
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Tax Increment Finance News |
Batesville, IN TIF Has Been Very Successful
The Herald-Tribune | Dec. 23 | Tax Increment Finance (TIF)
Local Market Opens, Becoming First New Grocery Store in 6 Years
The Chicago Maroon | Dec. 21 | Food Systems Finance | Tax Increment Finance (TIF)
Highwood Working to Secure School Support for Tax District Extension, Downtown Redevelopment
Chicago Tribune | Dec. 19 | Bond Finance | Tax Increment Finance (TIF)
Spokane Groups Establish Legislative Priorities
Journal of Business | Dec. 19 | Housing Finance | Tax Increment Finance (TIF)
Milwaukee Tool Announces $100M Expansion Project Using TIF in Menomonee Falls, WI
GM Today | Dec. 18 | Access to Capital | Tax Increment Finance (TIF)
Dayton, OH Considers TIF for $18M Downtown Redevelopment Project
Dayton Business Journal | Dec. 18 | Tax Increment Finance (TIF) | Urban Development
Bowling Green, KY TIF Payments Top $19M Mark
Bowling Green Daily News | Dec. 18 | Access to Capital | Tax Increment Finance (TIF) | Urban Development
East Providence, RI City Council Approves TIF Bond for Development of Waterfront Site
NEREJ | Dec. 13 | Tax Increment Finance (TIF)
Each Cincinnati, OH TIF District, By the Numbers
City Beat | Dec. 11 | Tax Increment Finance (TIF) | Urban Development
Downtown Tusla, OK Is One Step Closer to Getting a Grocery Store
8 ABC | Dec. 11 | Food Systems Finance | Tax Increment Finance (TIF)
Cleveland Heights-University Heights Gets TIF to University Square Redevelopment
Cleveland.com | Dec. 10 | Redevelopment | Tax Increment Finance (TIF)
Aurora, IL Set to Enact a Number of TIF Districts
Chicago Tribune | Dec. 9 | Economic Development | Tax Increment Finance (TIF)
Adaptive Reuse Financing Game Plans
Multi-Housing News | Dec. 5 | Historic Preservation | Housing Finance | Tax Credits | Tax Increment Finance (TIF) | Tax Credits\Federal Historic Rehab Tax Credits | Tax Credits\State Historic Tax Credits
Major Mixed-Use Project Planned for Findlay Market in Cincinnati, OH
Cincinnati Business Courier | Dec. 2 | Economic Development | Housing Finance | Tax Increment Finance (TIF)
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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.
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Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net
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