To facilitate the project, the city would provide a $47.4 million grant to New Kenosha LLC, the developers, to construct needed improvements. The development grant is city-bonded, tax-increment finance funded, and would be used to reimburse the developer for infrastructure and construction.

The Burger Dive, Kibler & Kirch, and a group that wants to bring Your Pie pizzeria downtown, have all applied for funding through the TIF district from the Downtown Billings Partnership. The DBP is overseen by the Billings City Council and is the steward of the TIF funds collected from downtown properties.

"One of the benefits we got for waiting a little bit was a very, very good interest rate," the mayor said. "Our payments will be covered by the TIF dollars. We did not need any property tax or local option income tax backup, which we always had on all our other redevelopment bonds, mainly because of our bond rating and our financial position.

Mayor John Cooper's agreement establishes a River North Business Improvement District. River North property owners will voluntarily increase their property taxes on certain parcels of land, which in turn will enable Metro to recoup its $13.8 million over time.

The Clermont County Community Improvement Corporation will finance new roads, sanitary sewer lines, and gas lines for the project. Union Township will pay off the financing with TIF funds, in which some money Hamilton Safe normally would have paid in property taxes will for a time be used instead for infrastructure improvements.

The IEDA board approved $3.3 million in tax credits for Simmons Pet Food Inc, as well as an $800,000 forgivable loan. The company will also receive a nine-year Tax Increment Finance Rebate from the city of Dubuque valued at $2.16 million.

Because City Council has pledged to enter into a tax-increment financing agreement for the project, it's expected Continental would pay up to $17.25 million to a TIF fund rather than in property taxes to Upper Arlington Schools over 30 years.

The Monterey Hotel, after decades of citywide anticipation, will once again become a fully functional member of Janesville's downtown landscape as soon as March 2022. The city council unanimously approved a tax-increment finance deal to aid developers to redevelop the building into 51 apartment units with first-floor commercial space.

Intro Bond Finance WebCourse
February 24-25, 2021 - Daily: 12:00 - 5:00 PM Eastern

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March 24-25, 2021 - Daily: 12:00-5:00 PM Eastern

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