About

Advocacy

Events

Membership

Sponsor

Education

Newsletters

Resources

Technical Assistance

×

CDFA Tax Increment Finance Update - December 28, 2021

Having trouble viewing this newsletter? View it online.
Tax Increment Finance Update
December 28, 2021
Subscribe
View Archives
Tax Increment Finance Update

Features

TIF Proposed for Five School Improvement Projects in Chicago, IL
The Chicago Board of Education would complete five school improvement projects through more than $28 million in Tax Increment Finance (TIF) assistance proposed to City Council today by Mayor Lori E. Lightfoot. Chicago's TIF program allocates property tax growth within designated TIF districts for public improvement projects, affordable housing, economic development and other goals.

Development Unveiled at Wichita, KS's Riverfront Stadium Site
Wichita moved forward with Riverfront Stadium replacing Lawrence-Dumont Stadium. Improving the riverfront area by activating the old ballpark space–which consisted of Lawrence-Dumont Stadium and a sea of parking–was a goal for the city's ballpark investment. The new development will include an eight-story, 150-room hotel, a six-story office building, and a 200-spot parking structure. Up to $5 million in tax increment financing will be used to fund the parking structure.

City Council Expected to Approve Tax Incentives for Ohio State's ‘Innovation District'
The Columbus City Council is set to vote on a jobs-incentive agreement for Ohio State that would allow the public university to keep 40% of city income taxes from new workers at a new development area west of campus. The deal also involves the creation of a new city tax-increment financing (TIF) district for Ohio State to help subsidize the new development in association with Nationwide Children's Hospital and JobsOhio. Ohio State plans to spend $3 billion to $4 billion in capital investments within the Innovation District over 20 to 30 years.

$93M Redevelopment Approved for Jordan Park, St. Pete's Historic Public Housing Project
Funding for the St. Petersburg Housing Authority's Jordan Park redevelopment project has been approved for $93 million in funding. The redevelopment and rehabilitation will kick off in early 2022 and continue in phases until complete. $2 million from the City of St. Petersburg will be paid for with Tax Increment Financing dollars, given by the St. Petersburg Redevelopment District Fund.

Tidewater Landing Lands $37M Pawtucket, RI Tax Breaks 
The Pawtucket City Council agreed to exempt Tidewater Stadium LLC, an affiliate of Fortuitous Partners, from paying two decades of real estate taxes on a riverside soccer stadium complex to be valued at $65 million upon completion. The development as a whole is a $284 million mixed-use project touted as "the largest economic development project in Pawtucket's history."

Myrtle Beach, SC Approves $20M Investment Into Downtown Development
Myrtle Beach City Council approved plans to allocate about $20 million toward downtown redevelopment. The money for the projects will come from tax increment finance (TIF) revenue. Leaders in the Downtown Development Office (DDO) plan to use the money for projects like a city square, a children's museum, and a performing arts theatre.

Council Committee Approves Tax District for $115M Development in Louisville, KY
A Metro Council committee has approved a tax district for a $115 million development project in the Phoenix Hill neighborhood. The district would include a 130-room hotel, more than 350 housing units, 70,000 square feet of commercial space, and a parking garage. The project would agree to hire within the neighborhood, with priority to current and former residents and a wage floor of $15 an hour.

Charlton Voters OK $11.6M Tax Break Over 10 Years for Amazon's $300M Facility
Voters approved a 10-year property tax relief agreement with Amazon for its proposed $300 million project. Amazon is planning to develop the approximately 100-acre site into a 2.8 million-square-foot robotics sortation warehouse. The TIF gives an $11.6 million real estate tax break to Amazon over 10 years for the project that is expected to bring the town $65 million in new revenue over 20 years.

Upcoming Events

Fundamentals of Economic Development Finance Course
January 26-27, 2022 - Daily: 12:00 - 5:00 PM Eastern
CDFA's Fundamentals of Economic Development Finance Course is the foundation for all of CDFA's educational offerings. This course helps attendees understand the variety of development finance tools available, from bonds, tax credits and TIF, to federal financing programs, RLFs, and access to capital lending resources.

Intro Bond Finance Course
February 14-15, 2022 - Daily: 12:00 - 5:00 PM Eastern
The Intro Bond Finance WebCourse provides an in-depth look at governmental and qualified private activity bonds, with a focus on industrial development bonds (IDBs), 501(c)(3) non-profit bonds, exempt facility bonds, and other special bond programs authorized by the federal government.

Tax Increment Finance News

Here's What You Should Know About a Special Property Tax District in Belleville, IL
Belleville News-Democrat | Dec. 27 | Infrastructure Finance | Redevelopment | Tax Increment Finance (TIF)

Missoula County, MT Extends AT&T Lease Agreement, Caps Excess Tax Increment
KPAX | Dec. 27 | Infrastructure Finance | Local Finance Program | Tax Increment Finance (TIF)

City of Victoria, TX Establishes Tax Increment Reinvestment Zone Downtown
The City of Victoria | Dec. 21 | Economic Development | Infrastructure Finance | Local Finance Program | Tax Increment Finance (TIF)

New Pizza-Brewery Business in Chenoa, IL Enters Into TIF Agreement With City
Pontiac Daily Leader | Dec. 17 | Economic Development | Food Systems Finance | Redevelopment | Tax Increment Finance (TIF)

Dare County, NC Moves Ahead on Affordable Housing 
The Coastland Times | Dec. 16 | Housing Finance | Legislative | Public-Private Partnership (P3) Financing | Tax Credits | Tax Increment Finance (TIF) | Water Finance

Worthington, MN City Council to Establish Tax Increment Financing District
The Globe of Worthington | Dec. 15 | Economic Development | Redevelopment | Tax Increment Finance (TIF)

Council OK's $2.82M TIF Subsidy for Affordable Apartments
Sun Prairie Star | Dec. 13 | Economic Development | Housing Finance | Redevelopment | Tax Credits | Tax Increment Finance (TIF)

Frisco, TX Moves Forward in Expanding Uses of Tax Increment Reinvestment Zones
Community Impact Paper | Dec. 13 | Economic Development | Infrastructure Finance | Redevelopment | Tax Increment Finance (TIF)

Zionsville, IN Officials Outline Possible Long-term Bonds
Current Publishing | Dec. 7 | Bond Finance | Economic Development | Tax Increment Finance (TIF)

City Seeks to Create New TIF District for Future Industrial Park
Kokomo Tribune | Dec. 3 | Economic Development | Infrastructure Finance | Redevelopment | Tax Increment Finance (TIF)

Indianapolis Seeks to Fund Affordable Housing in Hillside Amid Gentrification Fears
IndyStar | Dec. 2 | Brownfield Financing | Community Development | Housing Finance | Redevelopment | Social Finance | Tax Increment Finance (TIF)

Columbus, IN Pledges TIF Revenue for Downtown Project
The Republic | Nov. 20 | Economic Development | Food Systems Finance | Housing Finance | Innovation Finance | Tax Increment Finance (TIF)

Cleveland Whiskey Receives TIF for New HQ, Distillery, Tasting Room in Cleveland's Flats
Cleveland Business Journal | Nov. 20 | Economic Development | Tax Increment Finance (TIF) | Urban Development

North Platte Planning Commission to See Beef Plant's Redevelopment Plan
The North Platte Telegraph | Nov. 20 | Agriculture Finance | Economic Development | Infrastructure Finance | Redevelopment | Tax Increment Finance (TIF)

Proposed Eaton Township, OH TIF Would Help Renovate Fire Station
The Chronicle Telegram | Nov. 17 | Economic Development | Infrastructure Finance | Tax Increment Finance (TIF)



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 138

April 26, 2022
March 22, 2022
February 22, 2022
January 25, 2022
December 28, 2021
November 23, 2021
October 26, 2021
September 28, 2021
August 24, 2021
July 27, 2021
June 22, 2021
May 25, 2021
April 27, 2021
March 23, 2021
February 23, 2021
January 26, 2021
December 22, 2020
November 24, 2020
October 27, 2020
September 22, 2020
August 25, 2020
July 28, 2020
June 23, 2020
May 26, 2020
April 28, 2020
March 24, 2020
February 25, 2020
January 28, 2020
December 24, 2019
November 26, 2019




CDFA National Sponsors

  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Frost Brown Todd LLC
  • gener8tor
  • 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
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor