About

Advocacy

Events

Membership

Sponsor

Education

Newsletters

Resources

Technical Assistance

×

CDFA Tax Increment Finance Update - July 28, 2020

Having trouble viewing this newsletter? View it online.
Tax Increment Finance Update
July 28, 2020
Subscribe
View Archives
Tax Increment Finance Update

Features

Change to Ohio TIF Law
The Ohio General Assembly fast-tracked a school construction finance measure as a mini-capital appropriations bill. Amended Senate Bill (Am. SB) 4 was signed into law by Governor DeWine after the measure was prioritized by leaders in the Ohio House and the Senate. A provision included in Am. SB 4 deserves attention among municipal and township officials and economic developers.

Jackson Township Trustees Not United on Resolution for Possible Levy
Fiscal officer Ron Grossman said there are two main reasons why a replacement levy is preferred over a renewal measure. One reason is the change in state law that went into effect Jan. 1, 2006, regarding tax-increment-financing districts, or TIFs. Revenue that exceeds the locked-in valuation of the land is diverted from the entities that typically receive property-tax revenue, including school districts, parks districts, libraries, and fire departments. Starting in 2006, if a new TIF district were established and a voted levy was approved, levy funds would not be diverted to the jurisdiction establishing the TIF.

Developers Get to Take a Swing at the Tropicana Field Site
An appraisal of the property is underway and should be completed in fall 2020, the RFP said. The site is located in an Opportunity Zone, a designation that could attract investors looking to defer or reduce federal capital gains tax liabilities, and the city and Pinellas County have approved $75 million in Tax Increment Finance funding earmarked for infrastructure improvements.

Dominium Begins Work on $74M Apartment Project in Roseville, MN
Financing will include a Freddie Mac loan, a tax-exempt construction loan, and taxable equity bridge loan originated and serviced by America First Multifamily Investors, federal low-income housing tax credits, and tax-increment financing from the city of Roseville's Economic Development Authority. The Minnesota Housing Finance Agency (MHFA) is also providing low-income housing tax credits and tax-exempt bonds issued by the city of Roseville.

Investor in Millennium Development Project at UNK's University Village Asking for $2.7M in TIF
A project that will add almost 107,000 square feet of residential living and retail space at University Village in west Kearney seeks tax increment financing Tuesday from the Kearney City Council. The Kearney Community Redevelopment Authority voted to recommend the council's approval for $2.7 million in TIF assistance to cover the following utilities and eligible costs: water: $239,658; sanitary sewer: $138,469; electrical: $200,000; fiber: $65,000; parking facilities: $1,612,705; sidewalks: $379,460; and lighting: $65,000.

CDFA Announces the CDFA-Frost Brown Todd Infrastructure Finance Collaboration
The Council of Development Finance Agencies has partnered with Frost Brown Todd and its affiliate FBT Project Finance Advisors on the new CDFA Intro Infrastructure Finance WebCourse and the CDFA Finance Toolbox video series. This collaboration will focus on financial challenges and opportunities facing communities working to develop or upgrade energy, water, broadband, disaster recovery, transportation, and other services, and provide expert analyses to inform the development finance industry.

TIF Projects Top $10B In Kentucky
Signature projects around the state are making major impacts on the cities and regions in which they are located, and many are moving forward thanks to Tax Increment Finance status through the Kentucky Cabinet for Economic Development. The cabinet website lists $10.1 billion in completed or planned investment in more than 35 TIF projects.

MEDC's Michigan Strategic Fund Provides Support for 3,100 Small Businesses
The Michigan Strategic Fund approved new economic assistance for small businesses, community revitalization projects, and a business expansion. These programs reach all 83 counties in the state, assisting businesses across a range of industries, including food service, retail, health care, construction, and professional services, among others.

Upcoming Events
CDFA Virtual Summer School

CDFA-Bricker PACE Webinar Series: Policy and the Future of PACE
Tuesday, August 25, 2020 - 11:00 AM - 1:00 PM Eastern
This webinar will examine the next decade of PACE with a forward-looking view of how PACE will continue to evolve nationwide. PACE experts will explore ways in which the industry can expand PACE use to places that have yet to take advantage of this modern development finance tool. Learn how to tackle public policy hurdles and how to educate community leaders on the pros of PACE while ensuring accountability, transparency, and program effectiveness.

CDFA // BNY Mellon Development Finance Webcast Series: Investing in Childcare Facilities
Thursday, August 27, 2020 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will showcase various childcare facilities financing programs from across the country and highlight projects that have successfully utilized these tools.

Tax Increment Finance News

Completion of Phase One of Downtown Trail Marks Finish of Stellar Projects
Journal Review | Jul. 27 | Tax Increment Finance (TIF)

Scarborough Considers $14M Affordable Senior Housing Complex
Press Herald | Jul. 24 | Tax Credits | Tax Increment Finance (TIF)

TIFA Looks to Redo Fishing Pier at Blossom Heath Park
C and G Newspapers | Jul. 24 | Tax Increment Finance (TIF)

Development in Hastings Benefiting From 'Blighted and Substandard' Designation
Hastings Tribune | Jul. 23 | Tax Increment Finance (TIF)

Lincoln City Taking Comments for $87M Urban Renewal Plan
Lincoln City Homepage | Jul. 22 | Tax Increment Finance (TIF)

New $11M Industrial Development Coming to Battle Creek
Battle Creek Enquirer | Jul. 22 | Tax Increment Finance (TIF)

Sherman Begins West Side Flats III
Finance & Commerce | Jul. 22 | Tax Increment Finance (TIF)

City Likely to Expand Gateway Commons Development Area; Mda to Provide More Tax Revenue
The Owensboro Times | Jul. 22 | Tax Increment Finance (TIF)

Remington Oks Smith Transport Tax Abatement
Herald Journal | Jul. 15 | Tax Increment Finance (TIF)

Brownfield Infusion Will Boost West Shore Bank Project
Record Eagle | Jul. 4 | Brownfield Financing | Tax Increment Finance (TIF)

Small Minnesota Town Works to Land New Grocery Store
Star Tribune | Jul. 4 | Food Systems Finance | Revolving Loan Funds (RLFs) | Tax Increment Finance (TIF)

New Manufacturer Plans Facility in Hutchinson, MN Industrial Park
Hutchinson Leader | Jul. 1 | Tax Increment Finance (TIF)

Turning Brownfields into Community Benefits: New Pathways for Local Government and Renewable Energy Partnerships
JD Supra | Jun. 29 | Brownfield Financing | Energy Finance | Tax Increment Finance (TIF)

New 5-Story Waterfront Residential Complex Coming to Bay City
NBC 25 News | Jun. 23 | Bond Finance | Brownfield Financing | Tax Increment Finance (TIF)

Housing Planned Next to St. Louis Park Church
Finance & Commerce | Jun. 23 | Brownfield Financing | Tax Increment Finance (TIF)


Highlights from the Online Resource Database

Cultivating Development: Trends and Opportunities at the Intersection of Food and Real Estate
Bond Finance | Economic Development | Food Systems Finance | Revolving Loan Funds (RLFs) | Tax Credits | Tax Increment Finance (TIF)
Cultivating Development explores the mutually beneficial relationship between food-based amenities—such as working farms, community gardens, food halls, restaurants, and grocery stores—and real estate. Developers, owners, property managers, designers, investors, and others involved in real estate decision making can learn from the research, case studies, and food and development practitioner insights described in this report, thereby allowing them to create places that both support and leverage investments in food.


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

Archives

Displaying 1 - 30 of 162

April 23, 2024
March 26, 2024
February 27, 2024
January 23, 2024
December 26, 2023
November 28, 2023
October 24, 2023
September 26, 2023
August 22, 2023
July 25, 2023
June 27, 2023
May 23, 2023
April 25, 2023
March 28, 2023
February 28, 2023
January 24, 2023
December 27, 2022
November 22, 2022
October 25, 2022
September 27, 2022
August 23, 2022
July 26, 2022
June 28, 2022
May 24, 2022
April 26, 2022
March 22, 2022
February 22, 2022
January 25, 2022
December 28, 2021
November 23, 2021




CDFA National Sponsors

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor