Baraboo, WI Expands Business Loans to City Nonprofits
Guidelines of the nonprofit loan program align with the small-business plan, allowing applicants to borrow $5,000 at 0% interest through the end of the year. The city designated $250,000, split between a tax increment finance district fund and Economic Development Fund 986, to be used for the loans.
Sarasota, FL Plots COVID-19 Economic Assistance Program
As residents deal with the economic fallout of the COVID-19 pandemic, city leaders are considering spending $2.3 million to support small businesses affected by the disease. Of the $2.28 million total, $1.35 million would come from the city's economic development fund, $210,609 would come from downtown TIF funds, and $724,000 would come from Newtown TIF funds.
Commissioners Endorse $1.2M TIF Request
Gibson County Commissioners unanimously voted to allow a request by the City of Princeton for use of up to $1.2 million in tax increment finance revenue as local match in a grant application for a $4.2 million city water line replacement project to go to the Gibson County Redevelopment Commission.
Affordable Housing Complex Coming to Logan Square Blue Line Station
In total, the project is expected to cost about $40 million. In addition to tax exempt bonds and already-unlocked $10.1 in Tax Increment Finance (TIF) financing, the project is slated to get approximately $13 million in Chicago Housing Authority financing.
The Federal Reserve's Municipal Liquidity Facility: Providing Financial Relief but at What Cost
Proceeds may be used only to manage the cash-flow impact of income tax deferrals resulting from an extension of an income tax filing deadline, as well as to manage reductions in tax and other revenues and expenses related to the pandemic, and to pay principal and interest on obligations and use the proceeds to buy similar notes issued by "political subdivisions and instrumentalities of the relevant state, city, or county."
Joplin, MO Sees Slight Decline in Monthly Sales Tax Revenue
The mayor said that one thing the city has already done that will help city finances is paying off the Joplin Recovery Tax Increment Financing District, which had been diverting about $1.3 million a year in tax revenue from city coffers to a special tax fund to secure bonds, or loans, to pay for tornado recovery projects. That means tax proceeds will again be going to the city.
Hendersonville, TN Officials Announce TIF Payoff Ahead of Schedule
In a move that officials hailed as a "great success," a financing plan set in motion more than a decade ago paid off, years ahead of schedule. The TIF, tax increment financing, was a cooperative effort of the city of Hendersonville, the Hendersonville Industrial Development Board and Sumner County government.
Kansas City, KS Council Greenlights $25M for Northland Soccer Complex
Kansas City will chip in $25 million for a $43 million tournament-quality soccer complex in the Northland, a project advocates herald as bringing much-needed fields north of the river. The city will cover its costs by extending expiring Northland tax increment financing projects and redirecting the capital improvement and parks sales tax dollars to the soccer complex.
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