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
View Archives
Tax Increment Finance Update


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


Displaying 1 - 30 of 163

May 28, 2024
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

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
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
Become a Sponsor