Join CDFA for Our Upcoming Intro Tax Increment Finance WebCourse
Register for CDFA's Intro Tax Increment Finance (TIF) WebCourse taking place on June 26-27. Join us to learn the guiding principles and appropriate application of TIF. Our panel of expert instructors will discuss TIF deal-making and best practices highlighted by projects from around the country.
Work About to Begin on Long-Awaited Red Line Extension on Chicago, IL South Side
The CTA plans to extend the Red Line by 5.6 miles from the 95th Street terminal to 130th Street, with four new stations: 103rd Street and 111th Street near Eggleston Avenue, Michigan Avenue near 116th Street, and 130th Street near the Bishop Ford Freeway, just north of Altgeld Gardens. The $3.6 billion project relies on approximately $2 billion in federal funding and a new $959 Tax Increment Financing (TIF) district approved by the City Council in 2022.
Bemidji, MN City Council Oks Use of ‘TIF' Funding for Red Pine Estates Project
The Bemidji City Council unanimously approved the use of Tax Increment Financing (TIF) for the demolition of Red Pine Estates and the construction of a subsidized rental housing project to be built in the same place. The Schuett Companies want to tear down the old 50-unit building and rebuild two separate buildings with a planned 96 units.
Invest in Yourself at 2024 CDFA Summer School!
CDFA Summer School is a 2-week long virtual series of courses designed to help you accelerate your development finance education, with a curation of seven different training courses to choose from. Don't miss the opportunity to learn from our expert practitioners and experience CDFA's most interactive educational event of the year! Register today!
Plan Would Help Fund 34 Houses and 20 Duplexes in Milwaukee, WI
Around $2.3 million in city funding would help develop 20 duplexes and 34 single-family homes in Milwaukee's Midtown neighborhood under a new proposal. The cash would be generated by property tax revenue from the new houses. They would be built on vacant city-owned lots in an area generally bordered by West Garfield Avenue, West Vine Street, North 23rd Street, and North 26th Street.
CDC Approves $57M in TIF for 30 N. Lasalle, Chicago, IL
The Community Development Commission (CDC) has approved $57 million in Tax Increment Financing (TIF) for the adaptive reuse of 30 N. LaSalle. Planned by Golub and Co, the 44-story office tower was built in 1974 and is 52% vacant. Corebridge Real Estate Investors is serving as the lender for the project. Designed by SCB, the adaptive reuse would convert floors three through 18 into 349 apartments with amenity space, while the remaining upper floors would be retained as office space.
$1B Norman, OK Entertainment District Goes Before City Leaders
City leaders unveiled plans for the Rock Creek Entertainment District in September 2023, and are now days away from taking the project to the planning commission. The Rock Creek Entertainment district would feature restaurants, shops, hotels, and condos. It would also be the new home of OU basketball and other sports inside a brand-new arena.
Atlanta, GA Investing $45.4M to Create or Preserve Affordable Housing Units
Atlanta, GA's development authority, Invest Atlanta, will finance the creation or preservation of 444 affordable housing units in the city. The money will support the development of affordable multifamily housing in the Southside, Westside, and Downtown areas of the city at a range of area median incomes (AMI), including some low-income housing at or below 30% AMI.
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