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Tax Increment Finance Update
April 25, 2017
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Tax Increment Finance Update


CDFA National Summit Call for Submissions
CDFA is accepting sessions submissions for the 2017 National Development Finance Summit in Atlanta this November. Session submissions on deals, projects or programs that include multiple funding sources are highly encouraged. Submissions are due by May 12, 2017.

TIF District Reshaping Region in Bowling Green, KY
The local TIF district is the largest in the state, totaling more than 300 acres stretching from Western Kentucky University to Barren River. The local TIF district has seen investments of more than $300 million by various entities, including more than $100 million in private investment

Joplin's Post-Tornado TIF Faces Whirlwind of Criticism
Under Missouri law, blight makes a property eligible for tax increment financing, a popular development subsidy, however the Show-Me Institute, a free-market think tank, recently published a case study alleging that Joplin's subsidies "appear to have done little more than allow for mismanagement and profiteering."

Digi-key TIF Approved in Thief River Falls, ND
The Thief River Falls City Council on Monday approved a tax increment plan for the anticipated Digi-key Electronics expansion, which will add 1 million square feet and about 1,000 jobs over 10 years. The tax increment is estimated at $8.9 million with 10 percent of that value added on for administrative costs.

Tax Increment Financing Pays Off for Racine, WI
State law gives municipalities the tool of tax increment financing to develop or redevelop defined areas, and since 1980 the City of Racine has used it to boost its tax base by a net $181-plus million and counting.

Bergenfield, NJ Plans Downtown Revitalization with Special Improvement District
A spending plan of $187,000 that was recently approved by the Borough Council – the first budget the Special Improvement District, a public-private partnership created to improve the local business climate.

Ohio City, OH Improvement District Will Expand Its Clean & Safe Ambassador Program
The Ohio City Improvement District will expand its Clean & Safe Ambassador program, the result of a choice last fall by property owners along the West 25th Street corridor to renew and expand their special improvement district.

Controversial TIF to be Used for Houston Transit Project
At the core of the controversial Post Oak Boulevard project, with an estimated cost of $192.5 million, is the dedicated bus lane (also called bus rapid transit) system to be constructed in the median of Post Oak Boulevard. Opponents of the plan have taken issue with the legality of the Uptown Tax Increment Reinvestment Zone that's partly funding the project.

Retail Projects in Midwest City on the Rise Thanks to TIF
While the Midwest City, OK, Town Center Plaza took $7 million in tax increment finance dollars and some time to come together, it's spectacularly successful. It boasts a variety of retail stores, including a Lowe's, a Target, a Kohl's, a Best Buy, a J.C. Penney and a PetSmart, and restaurants such as Panera, Mutts Amazing Hot Dogs and Burgers, Fat Daddyz Crawfish and many more.

OKC Extends Life of Area's TIF District
Among many recent developments to move on developing OKC's innovation district, city officials have amended the area's tax increment financing district to extend its life and to provide money for STEM-oriented education that could benefit both the innovation district and residents.

Lucky's to Anchor Redevelopment at "The Corners" in Denver
Grocer will be the anchor to The Corners redevelopment project, to offset remediation and public improvement costs, the developer was awarded a $6.2 million tax-increment financing package.

Canopy Street Grocery, Apartments, One of Five TIF Projects on Council Agenda
The TIF proposals included the 15-story building, a 153-apartment complex, an office building on Innovation Campus, and redevelopment of the Lincoln Commercial Club project.

Lexington, SC, County Council Denies City of Cayce TIF Request
The City of Cayce has used Tax Increment Financing to develop areas of the city for the last 20 years. But a request to continue to use the funding mechanism that keeps taxpayer money in the municipality was recently denied by Lexington County Council.

Upcoming Events
Intro Tax Increment Finance WebCourse
Tax Increment Finance News

Thumbs Up: To Using TIF Funds Properly
The State Journal-Register | Apr. 25 | Tax Increment Finance (TIF)

In lawsuit, Developers Protest $51 million in Public Funding for Downtown Columbia Garage
Howard County Times | Apr. 25 | Tax Increment Finance (TIF)

Funding Our City: 5 Emergent Revenue Streams in Amarillo, TX
Amarillo Globe-News | Apr. 25 | Public-Private Partnership (P3) Financing | Tax Increment Finance (TIF)

Farmington, NM Approves First Public Improvement District
Apr. 25 | Tax Increment Finance (TIF)

After Long Delay, Developer Moving to Restart Royster Corners Project
Wisconsin State Journal | Apr. 12 | Brownfield Financing | Tax Increment Finance (TIF)

Highlights from the Online Resource Database

Combining Financing Tools for Missouri Development - City of Springfield
Brownfield Financing | Development Finance Toolbox | Economic Development | Revolving Loan Funds (RLFs) | Special Assessment Districts | Tax Increment Finance (TIF)
Combining multiple incentives successfully requires attention to detail and often some creative structuring. Identifying program requirements and balancing the applicable incentives are steps that must be established early on for any potential project. Sarah Kerner with the City of Springfield explores cast study in the city that have successfully navigated these programs and applied creative capital stacks.

Combining Financing Tools for Missouri Development - St. Louis Development Corporation
Development Finance Toolbox | Redevelopment | Special Assessment Districts | Tax Credits | Tax Increment Finance (TIF)
Combining multiple incentives successfully requires attention to detail and often some creative structuring. Identifying program requirements and balancing the applicable incentives are steps that must be established early on for any potential project. Otis Williams with St. Louis Development Corporation explores projects in Missouri that have successfully navigated these programs and applied creative capital stacks.

Tools for Port Authority Transportation Reinvestment Zones (TRZ) and TRZs for Multimodal Applications
Infrastructure Finance | Special Assessment Districts | Tax Increment Finance (TIF)
Transportation reinvestment zone (TRZ) that allows local governments to set aside local match contributions for the transportation projects most critical to their communities. TRZs create transportation project funding by capturing and leveraging the increase in real estate/land development value resulting from a transportation project.

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

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