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CDFA Tax Increment Finance Update - March 28, 2017

Tax Increment Finance Update
March 28, 2017
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Tax Increment Finance Update

Features

Stapleton, Co Using TIF Funds for New School, and Fire Station.
A tax-increment financing (TIF) district in Stapleton will pay for the area's sixth elementary school, the new fire station and a second bridge span on Central Park Boulevard over Sand Creek.

Niles, IL Officials Meeting With Developers To Market Touhy Triangle TIF
Niles, IL officials met with more than 30 developers, attorneys and other real estate professionals to market the village's Gross Point Touhy TIF master plan for what is often called the "Touhy Triangle".

Tiff Erupts Over TIF Between 4 County Council Members and City of Cayce, SC
The City of Cayce has moved to establish Tax Increment Financing (TIF) to fund improvements to its Knox-Abbott corridor and other parts of the city. Four Members of the Lexington County Council have spoken in opposition to the Cayce TIF.

Tax Credits Help Expanding Agawam, MA Company Hire More Workers
$38K in TIF funds, and $75K in Tax Credits to assist a local manufacture in expanding its facilities and workforce.

Vigo Co, IN TIF District to Support Hatchery
Vigo County will provide $1.5 million for utility and infrastructure needs for Select Genetics to develop a new turkey hatchery in a county industrial park. The county will provide incentives through tax abatements to Select Genetics, and finance the development through a local TIF district.

Taunton City Council Gives Green Light to Globe Tax Deal
Algonquin LLC, the Boston Globe's parent company, purchased a 333,000 sq. ft. Taunton, MA building in 2015. The Taunton TIF Board has approved a proposal that will save the company $1.3 million in the incremental assessed value of property taxes over 10 years.

Proposed Resolution Targets Future Tax Increment Financing Districts in Missouri
 A proposal in Missouri would require future tax increment financing districts, or TIFs, to be approved by the majority of voters in the area affected by the district.

Appeals Court Affirms Arapahoe Assessor's Decision on TIF District Start Date
The Colorado Court of Appeals has affirmed a court ruling from one year ago that favored the Arapahoe County Assessor's Office and its strict interpretation of the legally accepted timeline for when such approved financing plans should begin.

Calais, ME Forms TIF District to Boost Growth
The Calais City Council has approved a tax increment financing district that includes much of the downtown to spur economic development.

Woodside Improvement District Plan Advances in Westwood, KS
The city of Westwood took the first step to establish a 22-year, 0.9 percent Capital Improvement District sales tax on the Woodside Health and Tennis Club, part of the Woodside Village development.

Port Authority to Help Finance Massive Blue Ash Development
The Port of Greater Cincinnati Development Authority will use $24 million in TIF revenue bonds to finance public infrastructure improvements for a mixed-use development  in Blue Ash, Ohio. The economic impact is expected to be $110.5 million in direct spending plus another $14.9 million in indirect spending.

Bristol, WI Looks to Start First TIF District
The Village Board gave the Town Administrator authorization to negotiate the purchase of the land and make an offer to purchase contingent upon the successful formation of a TIF district.

Fair Oaks Blvd. Business Improvement District Plans Moving Forward in California
The BID for Fair Oaks Boulevard, which includes 350 assessed parcels, was approved by just under 70 percent of local property owners in the fall of 2016. The renewable, five-year agreement with the county, according to officials, may be expanded to include a wider tax base and coverage area.

Greenville, TN Sees Tax-Increment Financing As Tool For Economic Development
Officials eyeing four potential project areas across the county hope to utilize TIF to incentive new retail. Those areas are: downtown Greeneville, exit 23 in Mosheim, beside the movie theater along U.S. 11E and at Morgan Road, across from Wal-Mart.

HB 69 Could Drastically Modify TIF in OH
A proposed state law that would exempt some township fire and EMS districts from municipal-approved tax-increment-financing agreements could make TIFs ineffective for cities, according to Hilliard Mayor Don Schonhardt. Conversely, representatives for local townships that provide fire-suppression services for cities say the bill would balance the playing field.

Upcoming Events
Intro Tax Increment Finance WebCourse
Tax Increment Finance News

Aunt Millie's to Fire Up The Ovens in Lowell
The Times NWI | Mar. 27 | Tax Increment Finance (TIF)

Joliet Eyes Tax Incentives for Rock Run Crossings
The Herald-News | Mar. 27 | Tax Increment Finance (TIF)

City Using TIF Zones to Benefit Businesses
My Journal Courier | Mar. 27 | Tax Increment Finance (TIF)

Allentown's NIZ Collected $81M in Taxes Last Year
The Morning Call | Mar. 24 | Tax Increment Finance (TIF)

Danville Residents Have Questions Answered at TIF Meeting
Commercial-News | Mar. 16 | 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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