La Verne, CA EIFD Completes Tax Exempt Financing
The City of La Verne successfully closed a privately placed lease financing that provides the first financing to an Enhanced Infrastructure Financing District (EIFD). One of the first formed EIFDs, the La Verne EIFD is using Tax Increment Financing to pay for the cost of installing various public improvements in the City's Old Town Area in advance of opening Metro's Foothill Gold (L) Line station.
The CDFA Ohio Financing Roundtable is Back!
Join CDFA on September 14, 2022, in Columbus, Ohio for a one-day conference to share best practices within the development finance industry. Experts from across the state will discuss the latest and most innovative development finance tools, authorities, resources, and approaches, and how these can affect the Ohio economy going forward. If you have a stake in Ohio's economic development finance industry, you won't want to miss this event. Space is limited, register today!
‘Transformational' $115M Mixed-Use Development Coming to Bellevue, OH Riverfront
A massive, multi-million dollar riverfront development featuring new residential, hotel, office and retail space is coming to Bellevue. The project includes about $115 million in private improvements and $17.5 million in infrastructure improvements. Tax increment financing and industrial revenue bonds will be used to help fund the project.
Moline and Rock Island, IL Awarded Rebuild Illinois Grants
Rock Island and Moline have been awarded grants through the Rebuild Illinois Downtowns and Main Streets Capital Program from the Illinois Department of Commerce and Economic Opportunity. The Quad Cities Chamber of Commerce, Rock Island, has been awarded $3 million for downtown revitalization. The city is also supporting the downtown project through $1.5 million in TIF district funds.
Omaha, NE Planning Board Greenlights Four Projects Requesting TIF
Plans in Omaha for an office building, two apartment complexes and an affordable housing complex with a mixed-use building all received the initial go-ahead to receive tax-increment financing. If the projects receive final approval from the Omaha City Council, they would receive nearly $25 million combined in TIF.
Chicago, IL OKs Study for TIF District to Fund Red Line Extension
Chicago approved a feasibility study for a special tax district that's key to helping fund a five-mile, $3.6 billion extension of the Red Line, among the city's busiest. The Community Development Commission voted to proceed with planning for a Tax Increment District, which would freeze tax collections within its boundaries, Crain's reported. As much as $950 million of higher property taxes – the increment – would help finance the line's extension.
Chattanooga, TN City Council Gives Final Approval to South Broad Revitalization Plans
Chattanooga's City Council on final approval for the revitalization of the South Broad District, kicking off a renewal effort that will generate tens of millions of dollars in new money for schools, roads and infrastructure across Chattanooga and Hamilton County, while transforming a blighted brownfield into a vast, vibrant live-work-play district.
Iowa Officials Looking for More Public Funds for New Field of Dreams Stadium
Eastern Iowa leaders are planning to have the public pay for a new Field of Dreams ballpark, as the city of Dyersville asked for $12.5M in funding through Destination Iowa, If the state grants the city's wish, the award would represent about a quarter of the total cost of the project, a 3,000-seat stadium among the cornfields.