The city of Tulsa established a tax increment finance district last year to channel more than $40 million into north Tulsa housing. Habitat for Humanity will be "a key partner in this work" as they shift to a more "holistic approach" to building that involves not just individual houses, but building an entire community.

The Chicago City Council last week approved spending up to $1.5 million in tax increment financing funds to renovate the Austin Town Hall. The money will partially cover costs associated with upgrading the town hall's electrical service, improving ADA access, and remodeling and restoring parts of the interior

Authorizing Tax Increment Financing (TIF) is one critical action identified by the Washington Economic Development Association (WEDA) for state lawmakers to take in the 2021 legislative session to help communities recover from the pandemic. The Senate Business, Financial Services & Trade Committee has passed the TIF for Jobs bill (ESHB 1189) and further information can be found on WEDA's website.

A group of cattlemen and investors have formed Sustainable Beef, LLC to build a new small regional beef plant in North Platte, Nebraska. There have been significant disruptions in the packing industry resulting from a major fire at a nearby beef plant and the COVID-19 pandemic. The proposed plant will cost more than $200 million to construct and will likely need tax increment financing in the capital stack to make this project a reality.

The Cully Association of Neighbors in Portland, Oregon is developing an innovative plan to use tax increment financing to prevent displacement of vulnerable families from the neighborhood through the creation of a Community-Led Development District. Three-percent annual increases in tax revenue over 20 years would be set aside in a fund that would largely be directed towards investments in affordable housing.

Elected officials agreed to commit $500,000 toward the Boys & Girls Clubs of Kennebec Valley for its new building over several years. The money would come from the city's fund balance and from revenue from the Libby Hill Tax Increment Financing district, so the donation will have no impact on Gardiner's tax rate.

The Michigan Strategic Fund of the Michigan Economic Development Corporation approved projects and initiatives that are expected to generate a total capital investment of $173.6 million and create 473 jobs. This includes community revitalization brownfields projects in Detroit, Holland, and Alma.

The creation of a new tax incremental finance district, including more than $9.7 million in city projects and to assist significant redevelopment at the West Bend Brewery site, is nearing final approval in the city of West Bend, Wisconsin, as the required public hearings this week saw no input from the public and only brief discussion from the Plan Commission.

CDFA // BNY Mellon Development Finance Webcast Series: Social Impact Investing Credit Ratings for CDFIs
Tuesday, April 20, 2021 - 2:00 PM - 3:00 PM Eastern

Advanced Tax Increment Finance WebCourse
May 26-27, 2021 - Daily: 12:00 - 5:00 PM Eastern

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