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CDFA Tax Increment Finance Update - December 13, 2016

Tax Increment Finance Update
December 13, 2016
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Tax Increment Finance Update

Features

Weymouth and Union Point Tenant Reach Deal on Tax Breaks
Waymouth, MA uses Tax Increment Financing for the first time to redevelop the former South Weymouth Naval Air Station for a Dutch robotics company Prodrive Technologies.

Charleston County Approves West Ashley Revitalization Funding
Charleston County joins with the City of Charleston to form a $60M TIF district. The Jurisdictions are working together to revitalize the area and are now seeking public input on the plans.

AZ Coyotes Looking to Utilize TIF for New Arena
The Coyotes' arena plans have rekindled the debate over tax increment financing and incentives for sports teams and stadiums.

KC TIF Commission Advances East Side Revitalization Effort
Roughly $500,000 a year in earnings tax revenue paid by employees of Kansas City Public Schools would be diverted from city coffers into improvements within a 20-block-long swath of the city's East Side under a tax increment financing plan.

TIF District Funds Find New Allocation
The City Council in Newton, IA voted to redirect monies generated in the city's TIF districts to the general funds. The allotment to be paid back on TIF district debts will slow up during the next fiscal year.

St. Louis Advances $65M in Subsidies for Ballpark Village Expansion
A St. Louis aldermanic committee advanced $65 million in financing for Ballpark Village's planned $220 million expansion. The financing would come from TIF, a CID, a transportation development district, and the state of Missouri. The Ballpark Village bonds, originally issued in 2013, expire in 2037.

Clay County Consents to Spencer TIF District
The Clay County Board of Supervisors approved a resolution, consenting to the establishment of a sales tax TIF district, which would cover Pine Tree Plaza in Spencer.

River Forest Adopts Madison Street TIF District
Officials say a new Tax Increment Financing district proposed for the northern portion of Madison Street can help revitalize that part of The Village of River Forest. The proposed TIF district will last for 23 years.

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Tax Increment Finance News

Canton City Council Approves Hercules Tax-Increment Financing
GateHouse Media | Dec. 13 | Tax Increment Finance (TIF)

Chicago City Council Approves TIF District to Support CTA Red, Purple Line Projects
Simmons-Boardman Publishing Inc. | Dec. 13 | Infrastructure Finance | Tax Increment Finance (TIF)

The Indianapolis City-County Council Expands Downtown TIF District
Indianapolis Business Journal | Dec. 13 | Tax Increment Finance (TIF)

KC $47M Mixed Use Project to use TIF and Bond Finance
Kansas City Business Journal | Dec. 12 | Bond Finance | Tax Increment Finance (TIF)

Fromm Family Foods to Build Facility in Columbus TIF District
Columbus Journal | Dec. 7 | Tax Increment Finance (TIF)

Howard County Council Delays Vote on Downtown Columbia Overhaul
The Baltimore Sun | Dec. 7 | Tax Increment Finance (TIF)

Chicago Approves Rail Extension Deal to Secure $1B in Federal Funds
Construction Dive | Dec. 7 | Federal | Tax Increment Finance (TIF)

Chicago City Council Approves TIF Funding for CTA Red, Purple Lines
NBC Universal Media | Dec. 2 | Tax Increment Finance (TIF)

Developers Break Ground on $400M KC Youth-Sports-Anchored Project
Kansas City Business Journal | Dec. 1 | Community Development | Incentives | Special Assessment Districts | Tax Increment Finance (TIF)

Senate Bills Tackle Urban Brownfields, Redevelopment in Michigan
Detroit Free Press | Nov. 30 | Brownfield Financing | Tax Increment Finance (TIF)

Kokomo City Plan Commission Approves Northeast TIF District
Kokomo Tribune | Nov. 30 | Tax Increment Finance (TIF)

Block Northway Developer Seeks TIF to Help Pay for Mall Infrastructure
Trib Total Media | Nov. 30 | Infrastructure Finance | Tax Increment Finance (TIF)

Waterloo OKs Small TIF District Release
The Courier | Nov. 30 | 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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