A proper check on Colorado tourism funding
“We raised a red flag in 2009 about concentrating too much power in a committee awarding tens of millions of dollars to promote regional tourism. That concern, we still believe, was justified. Now, a measure…
North College housing project not dead yet
“Developers hoping to revive a geothermal housing and commercial project in North Fort Collins haven’t given up hope yet. Plans for a new 89-unit project stalled when the City Council, acting as the Urban Renewal…
City should have turned to TIFs instead of property tax hikes: study
“What the City of Chicago spent in each of the last several years on tax-increment financing funding exceeded what it owed in pension costs, so any proposal to raise property taxes to fund pensions should…
Bill would revamp tax district law
“Senate Bill 118, would: ■ Dissolve existing TIF districts created before 1995 by 2025. Districts could be re-established, but the formula used to collect new revenues would be reset in a way that would essentially…
THE TROUBLE WITH TIF: Tax incentive plan can do more harm than good, researchers say
“TIF too often strays from its core purpose — to redevelop blighted areas and promote economic development — found the report’s authors, economist Peter Fisher, Ph.D. research director of the nonpartisan Iowa Policy Project; and…
City’s new tax district OK should mean millions of dollars for local development
“State regulators have approved Butte’s request for a new tax-increment financing district for Uptown and adjacent neighborhoods, a move that should eventually steer tens of millions of tax dollars into area development. The Montana Department…
Bill on changing ‘blighted’ tag for TIF projects passes 1st round in Nebraska Legislature
“Cities would no longer have to declare properties “blighted and substandard” to provide tax-increment financing for redevelopment projects under a proposal given first-round approval by the Nebraska Legislature on Tuesday. The “blighted” tag causes consternation…
Bill on changing ‘blighted’ tag for TIF projects passes 1st round in Nebraska Legislature
“Cities would no longer have to declare properties “blighted and substandard” to provide tax-increment financing for redevelopment projects under a proposal given first-round approval by the Nebraska Legislature on Tuesday. The “blighted” tag causes consternation…
Business Watch: Study shows jump in TIF districts in Iowa
“Between 2000 and 2012, the number of urban renewal districts using tax increment financing grew to 1,614 from 1,125, a 43 percent increase, the Iowa Department of Revenue said in a study. Tax increment financing,…
Tax Increment Financing (TIF) Explained
“What is a TIF district? Is it a tax increase? TIF stands for Tax Increment Financing. A tax increment is the difference between the amount of property tax revenue generated before TIF district designation and…