Join CDFA for the Return of the Fundamentals of Economic Development Finance Course
Join CDFA as we kick off the new year with the return of the Fundamentals of Economic Development Finance Course on January 25-26, 2023! This course is the foundation for all of CDFA's educational offerings and will help attendees understand the variety of development finance tools available including bonds, tax credits, tax increment financing (TIF), federal financing programs, RLFs, Opportunity Zones, and access to capital lending resources.
Businesses in Chicago, IL Looking to Expand Downtown Could Get $300K Boost
A program that would give grants to small businesses looking to revitalize the LaSalle Street corridor passed a critical hurdle. The program would direct $5 million in tax-increment finance dollars to jumpstart a Small Business Improvement Fund for storefronts along Chicago's LaSalle Street corridor in the Loop.
The CDFA Federal Policy Conference is back!
CDFA is excited to host the 2023 Federal Policy Conference on April 11-12 in Washington, D.C.! This conference is a unique opportunity to gather with other professionals from across the country who work to support redevelopment projects, small businesses, rural development, and more. Join this national community to share best practices and learn how federal changes, like the Inflation Reduction Act, will influence your work in 2023. Don't miss out on discussions with federal financing experts - register today!
Detroit, MI Mayor Announces New Loan Program for Downtown Housing
Detroit Mayor Mike Duggan announced a new financing tool for developers to build more affordable housing in downtown Detroit, and the first project expected to get loans to create new subsidized units is the District Detroit development with a $24 million investment. The DDA's funding comes from grants, contracts, interest on loans, and captured tax increments on approved developments.
Call for Proposals - CDFA Minority Capital Loan Guarantee Program
The CDFA Minority Capital Loan Guarantee Program is a 10-year, $18 million loan guarantee program, supported by the Robert Wood Johnson Foundation, to help development finance agencies in the United States deliver capital in a more equitable manner. CDFA is now accepting proposals from those interested in participating in the program. To be considered, download the Call for Proposals for submission criteria and register to attend the informational webinar on February 7 at 2 PM (Eastern).
State Auditor Releases Annual TIF Legislative Report for Minnesota
State Auditor Julie Blaha has released the annual Tax Increment Financing (TIF) Legislative Report for 2021 activity reported in 2022. "TIF districts are ending early more often – and that's good news," said Auditor Blaha. "Early decertifications show that once planned costs are paid, authorities are closing districts and reaping those benefits."
Core of Nebraska's Oldest City, Bellevue, NE, Poised for Renewal
The proposed Bridge Flats, containing 53 luxury rental units and about 18,000 square feet of street-level retail space, was described as the first phase of an anticipated downtown revitalization called the Frontier District. The city approved a $2.4 million tax-increment financing subsidy for the apartment building.
Multiple Large Kansas City, MO Projects Should See Progress in 2023
As the New Year gets underway, transformative project activity in greater Kansas City won't begin and end within the downtown urban core. Under recent incentive terms, GaleHart could access as much as $140 million in tax increment financing and community improvement district revenues during the next 32 years.
Lake Zurich, IL Establishes New TIF District to Spur Investment in 409-Acre Industrial Park
Lake Zurich hopes to use a newly approved tax increment financing district to spur investment in the town's 409-acre industrial park. Typically lasting 23 years, Village officials said the objectives of the new TIF district include reducing blighted conditions, enhancing the village's tax base, and encouraging private investment within the industrial park.