Tax Increment Financing (TIF) is a financing tool used by local governments to fund economic development projects. In Florida, TIF is most commonly associated with Community Redevelopment Agencies (CRAs), which have statutory...more
California Appellate Court Provides Guidance - Passthrough payments negotiated prior to the dissolution of redevelopment agencies must be paid in full before remaining tax increments are distributed. ...more
In the fall of 2019, the Ohio General Assembly significantly changed state law governing tax increment financing (TIF) exemptions. For certain TIF projects, local communities can extend the exemptions – and, therefore,...more
The Recodified Tax Increment Financing Act, 2018 PA 57 (the “Act”), was signed into law on March 15, 2018 to take effect on January 1, 2019. The Act consolidates the legislative authority to create and operate tax increment...more
Local affordable housing authorities in California will see their oversight enhanced with the passage of AB 2035, signed Friday by Gov. Jerry Brown....more
Tax increment authorities and municipalities face new transparency and reporting requirements under a recently signed law. The Recodified Tax Increment Financing Act, 2018 PA 57 (“Act 57”) was signed by Gov. Rick Snyder on...more
On September 8, 2017, a Jefferson County District Court ("Court") essentially struck down Ballot Question 300 (“BQ300”), approved by the Wheat Ridge ("the City") voters on November 3, 2015. The ballot question was an...more
On Friday, March 31, more than a year of ongoing discussions and negotiations among urban renewal stakeholders came to fruition with the introduction by Colorado State Sens. Rachel Zenziger (D – Arvada) and Beth Martinez...more
The Illinois Appellate Court recently upheld the actions of a city council in its establishment and implementation of a TIF district (Devyn Corp. v. City of Bloomington). In this case, the Court addressed the adequacy of a...more
As many of you who are involved in developing projects in urban renewal or downtown development areas know, the principal method for financing such projects is tax increment financing (TIF). Tax increment financing is...more
Many communities are trying to retain and attract businesses to provide economic development and jobs. With the loss of tax increment financing in California, and constrained local budgets, identifying incentives is more...more
HB 14-1375, a bill that will negatively impact the use of the urban renewal tool of tax increment financing throughout the state, passed the Senate on Wed., May 7, 2014, and is headed to Gov. Hickenlooper’s desk for...more