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CDFA Tax Increment Finance Update - September 27, 2016

Tax Increment Finance Update
September 27, 2016
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Tax Increment Finance Update

Features

Enid City Commission Terminates 3 TIF Districts and Creates 1
Enid, OK City Commission has approved the termination of three Tax Increment Finance districts, and the creation of one new district. Nate Ellis, of Public Finance Law Group, said the projects ultimately never moved forward, due to economic circumstances beyond the control of the city.

Aided by Public Incentives, South Billings. MT Becoming Hot Spot
Tax increment financing is one of few tools available to economic development groups to attract new business. In South Billings, it seems to be working.

MI Considering Tax Incentives for Large-Scale Brownfield Development
Major brownfield development projects in Michigan may soon get a boost from a five-bill Senate package that would allow developers to capture state sales and income taxes, according to Crain's Detroit Business.

Baltimore City Council Approves $660M Bond Deal for Port Covington Project
The Baltimore City Council gave its final approval to a $660 million public financing package for Under Armour CEO Kevin Plank's massive Port Covington project.

Hartford School Districts Reach Proposed TIF Agreement
Hartford, IL is considering a TIF district for the Chemetco plant site and surrounding area, and according to an intergovernmental agreement approved by the East Alton-Wood River school board, local school districts would receive 5 percent each of any tax increment above a $200,000 threshold.

Traverse City Commissioners to Talk TIF, Neighborhood Redesign
City commissioners are discussing replacing an expired tax increment finance plan, which has been credited with creating hundreds of jobs and spurring tens of millions in private investment . A new plan would reset the baseline for tax increment finance capture.

Oswego Officials Hope New Tax District Will Encourage Development Downtown
Oswego officials are hoping to spur redevelopment that brings more retail, restaurants and residential living units to the heart of the downtown and strengthens the historic charm of Main Street.

Chicago Aldermen Seek To Surplus A Shared TIF District To Fund Schools
Five Chicago aldermen want to surplus funds from a TIF district located in their wards and use the money to help "alleviate the budget crisis" at the cash-strapped Chicago Public Schools.

Lake In The Hills Trustees Oppose Tax Increment Financing District Feasibility Study
 Trustees said "no" to a $25,000 study that would have allowed the village to see whether a tax increment financing district was a feasible way to bring development to the area in Lake in the Hills, IL. Trustees said they don't think the city needs a study for what they already know.

New TIF District Will Support MN Arctic Cat Expansion
St. Cloud City Council unanimously approved establishing a tax increment financing district for Arctic Cat's $5.6 million expansion.

Upcoming Events
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Tax Increment Finance News

MO County Buys Macy's Building, Seeks Blighting Study
St. Louis Post-Dispatch | Sep. 26 | Economic Development | Redevelopment | Special Assessment Districts | Tax Increment Finance (TIF)

Gap In Streetscaping Program Leaves Room For Development
Journal and Topics Online | Sep. 26 | Infrastructure Finance | Tax Increment Finance (TIF)

St. Louis Development Seeks $19.4M TIF
St. Louis Business Journal | Sep. 26 | Economic Development | Tax Credits | Tax Increment Finance (TIF)

TIF District Approved for Reconstruction of Road
Enid News | Sep. 23 | Infrastructure Finance | Tax Increment Finance (TIF)

Fennimore Moves Forward on Possible New TIF District
TH Online | Sep. 23 | Tax Increment Finance (TIF)

Salina Awaits Development Agreement for Downtown Projects
Salina Journal | Sep. 23 | Bond Finance | Special Assessment Districts | Tax Increment Finance (TIF)

Transformational Brownfield Bills Hit Status Quo
The Detroit News | Sep. 23 | Brownfield Financing | Tax Credits | Tax Increment Finance (TIF)

Unable to Use All Its STAR Bond Financing, Prairiefire Seeks TIF
Kansas City Business Journal | Sep. 20 | Bond Finance | Economic Development | Special Assessment Districts | Tax Increment Finance (TIF)

Farmer City Mayor: Now Not the Time for New TIF District
Leroy Farmer City Press | Sep. 19 | Tax Increment Finance (TIF)

New North Side TIF District Would Support Lathrop Homes Redevelopment
City of Chicago | Sep. 19 | Infrastructure Finance | Tax Increment Finance (TIF)

Ashwaubenon Approves Riverfront Apartments
Green Bay Press-Gazette | Sep. 16 | Tax Increment Finance (TIF)

Ingham County, MI Lists Demands in Return for $35 Million in Loan Guarantees
City Pulse | Sep. 16 | Bond Finance | Brownfield Financing | Tax Increment Finance (TIF)

Some Skepticism, Lots of Support for Funding Red Line Work With Transit TIF
StreetsBlog Chicago | Sep. 16 | Infrastructure Finance | Tax Increment Finance (TIF)

Cook County Awards 7C Tax Break For Milwaukee Avenue Development
Journal and Topics Online | Sep. 16 | Infrastructure Finance | Tax Increment Finance (TIF)

Progress Continues on Flo's Brownfield Grant Application
Stafford Media Solutions | Sep. 16 | Brownfield Financing | Tax Increment Finance (TIF)

LIHTC's and TIF Assist Accessible Chicago Housing
Housing Finance | Sep. 15 | Tax Credits | Tax Increment Finance (TIF)

New Hartford TIF District Clears Another Hurdle
GM Today | Sep. 14 | Infrastructure Finance | Tax Increment Finance (TIF)

Urbana Council Approves TIF District for Downtown Redevelopment
The News-Gazette | Sep. 14 | Tax Increment Finance (TIF)

Florence City Council Moves to Refinance TIF Borrowing, Lower Bond Interests
SC Now | Sep. 14 | Bond 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


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