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Tax Increment Finance Update
February 28, 2017
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Tax Increment Finance Update


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Legislation Aims to Help Cities Clean Up Brownfield Sites
The Michigan Senate is poised to pass legislation that would ease some of the financial burden of cleaning up brownfield sites for redevelopment. The legislation would let developers keep part of the taxes generated from businesses and residents moving in after large-scale projects are finished. 

STAR Bonds and TIF to Fund Baseball Stadium in Wichita
Wichita Mayor has laid out plans for replacing 83-year-old Lawrence-Dumont Stadium with a $60 million to $65 million facility and occupying it with a minor-league franchise affiliated with a major-league club. $20M will come from a TIF District.

Rappaport's Skyland Town Center Signs a Tenant and Uses an $18.75M TIF District to Get Project Back on Track
Rappaport Cos, co-developer of the troubled Ward 7 project, said Tuesday that CVS has signed a lease for 10,000 square feet in the18-acre town center. Rappaport also said it has closed on $58.5 million in EB-5 foreign investment.

Potential Omaha Streetcar Assessed at $156M, Could Pay for Itself with TIF
A financial assessment done for the city lays out numerous options for paying to build a streetcar line. An enhanced TIF district, which would apply to existing properties within three blocks of the streetcar line will help foot the bill.

Baltimore Delegate Seeks Prevailing Wage Requirement for TIF Projects
A Baltimore state delegate's bill seeks to force developers receiving certain public financing for projects to pay laborers a jurisdiction's prevailing wage.House Bill 466 requires developers receiving a minimum of $500,000 in tax increment financing to pay the prevailing wage.

New Youth Soccer Complex Moves Forward With Help of TIF
The Olathe Planning Commission approved rezoning for a new youth soccer complex. The $27 million project will make use of TIF, industrial revenue bonds, and a community improvement district to help offset some of the development costs.

Panel Approves New Deal for KFC Yum! Center
House Bill 330, approved on a 22-1 vote, would extend the life of a tax increment financing, or TIF, district program in Louisville Metro from 20 years to as long as 45 years.

Legislature Considering New TIF Districts
A House bill allowing the creation of another tax increment financing district would apply only to Bennington, but other bills that could add additional communities to the list also are under consideration.

Baltimore Delegate Seeks Prevailing Wage Requirement for TIF Projects
A Baltimore state delegate's bill seeks to force developers receiving certain public financing for projects to pay laborers a jurisdiction's prevailing wage.

TIF Jurisdiction, Future Projects Among County Officials' Annexation Concerns
Officials say existing Monroe County, Ind., tax increment financing districts will remain under the jurisdiction of the Monroe County Redevelopment Commission even if the city annexes areas within them.

Upcoming Events
Intro Tax Increment Finance WebCourse
Tax Increment Finance News

Rossford Council Gets Details of Options for Tax Increment Financing for Growth Areas
Sentinel-Tribune | Feb. 27 | Tax Increment Finance (TIF)

Downtown Washington City TIF Requests Get Nod
Missourian | Feb. 25 | Tax Increment Finance (TIF)

South Charleston Approves TIF District for Fly Ash Site
Charleston Gazette-Mail | Feb. 23 | Tax Increment Finance (TIF)

Dawn Theatre to Screen Classic Movies Following TIFA Financed Renovation
The Collegian | Feb. 23 | Tax Increment Finance (TIF)

Vermont Governor Proposes Nixing Limit On Tax Financing
WAMC | Feb. 18 | Tax Increment Finance (TIF)

Denver Council Approves Tax Financing Plans for 225 Affordable Apartments
The Denver Post | Feb. 18 | Tax Increment Finance (TIF)

Mixed-Use Apartment and Commercial Campus Could Come to Former Essex Wire Site
RRStar | Feb. 14 | Brownfield Financing | 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.

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Columbus, OH 43215
(614) 705-1300

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