The city of Aurora is looking to expand its fiber optic network further through downtown, thanks to a grant from the downtown tax increment financing district. Aldermen are set to vote on $75,000 from the downtown TIF to pay for connecting commercial properties to OnLight Aurora.

The City created a local TIF District to begin funding improvements, and voters later approved GO bonds in 2011 and 2014 to continue improving key infrastructure. Public projects, worth over $65M, included the renovation of historic buildings, Performing Arts Center, a new pavilion, a 1,200 square-foot interactive water feature, and infrastructure improvements .

Waterfront development plans and the accompanying infrastructure could benefit if two properties are added to a tax increment financing district. The added TIF districts would produce an estimated $495,000 annually, over and above the current estimated annual TIF proceeds at $540,000," according to a Feb. 7 memo by City Economic Development Director.

Opinion: A comprehensive plan for affordable housing must start with bringing back reformed Community Redevelopment Agencies, which can be done by building on the Enhanced Infrastructure Financing Districts law enacted in 2015. Redevelopment Agencies once invested nearly a billion dollars a year into new housing. And when California took that tool away, a bad situation was made worse.

A state legislative committee is studying how to change the tax increment reinvestment zone system.

The Lenexa City Council gave the green light Tuesday night for another tax-increment financing (TIF) development in City Center. The project's TIF will generate an estimated $4.5 million over 20 years, City Administrator Eric Wade said in a presentation to the council.

The city has budged $830,300 for the plaza and $1.5 million for a footbridge over the Eau Claire River connecting it to Phoenix Park. Both will be paid for by downtown tax increment financing districts. 

The Des Moines City Council on Monday unanimously approved the terms of a preliminary development agreement with 207 Crocker, LLC. Developers will receive about $1.4 million in the form of tax increment financing over eight years. The project will cost about $11 million. 

Rosemont will give $1 million in tax increment financing funds to the developer of global logistics firm DHL's new Innovation Center, where the company plans to showcase products to clients from across North and South America.

The project, which will include 100 apartments and approximately 16,000 square feet of retail on street level, was reported to cost $25 million overall. The city of St. Louis approved $3.8 million in tax-increment financing assistance for the project.

CDFA Federal Financing Webinar Series
February 28, April 12, June 14, August 16, and October 18, 2018 - 2:00PM Eastern

Reimagining Brownfields as Transit Oriented Developments
March 8, 2018 - 2:00 - 3:30 PM Eastern

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