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Topic: TIF


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  Nebraska Community and Rural Development   (Site not responding. Last check: 2007-11-04)
TIF provides a means of encouraging private investment in deteriorating areas by allowing city governments to devote all property tax revenue increases to repay the public investment needed to attract development.
The legislature revised the TIF statutes in 1988, 1991, 1995, 1996, 1997, and 1999.
TIF bonds may be issued in conjunction with revenue bond issues for water, sewer, or parking purposes and are exempt from state and federal income taxes.
crd.neded.org /comm_resource/tif.htm   (2913 words)

  
 Tax Incremental Finance - 1000 Friends of Wisconsin
TIF needs to be refocused on its original intent of helping the redevelopment of blighted urban areas.
The original intent of the TIF law was to create incentives for cities and villages (towns cannot use TIF) to finance urban redevelopment and blight elimination projects and to promote industry.
TIF is administered at the state level by the Wisconsin Department of Revenue.
www.1kfriends.org /Publications/Online_Documents/TIF.htm   (2034 words)

  
 FAQs   (Site not responding. Last check: 2007-11-04)
TIFs are found throughout the State of Illinois — from Zion near the Wisconsin border to Marion in the South, and Rock Island on the Mississippi River to Danville near the Indiana border.
Illinois TIF law specifies a number of requirements that must be satisfied for an area to qualify as a TIF district, beginning with identifying the district and the physical and economic deficiencies that need to be cured.
TIF funds may be used for costs that will permit previously developed properties to compete with vacant land at the edge of the urban area.
www.illinois-tif.com /faqs.htm   (3581 words)

  
 TIF - House Research
TIF uses the additional property taxes paid as a result of development in the district to pay for part of the development costs.
When a TIF district is created, the county auditor also certifies an "original tax rate." The original tax rate is total property tax rate that applies in the district, i.e., the tax rates imposed by all of the local governments that levy taxes (the city/town, county, school district, and special taxing districts).
TIF traditionally was used as a means of redeveloping urban areas that had old or worn-out buildings in need of replacement or rehabilitation.
www.house.leg.state.mn.us /hrd/issinfo/tifmech.htm   (1285 words)

  
 New Rules Project - Retail - Tax Increment Financing - TIF Reform   (Site not responding. Last check: 2007-11-04)
SB 172 would limit the use of TIF to areas characterized by moderate income (less than 80 percent of the surrounding area's median income), high unemployment (one-and-a-half times the rate of the surrounding area), or low fiscal capacity (assessed value per capita is at least 40 percent lower than the surrounding area).
It would prohibit the use of TIF on sites that are more than 25 percent undeveloped land or farmland, and limit the use of TIF for projects that are primarily retail unless the development occurs in a federal enterprise or empowerment zone, or a "distressed community" as defined elsewhere in state law.
TIF was originally intended to spur development in poor neighborhoods, but many states have broadened the criteria, allowing subsidies to flow to more affluent, suburban locations.
www.newrules.org /retail/tifreform.html   (1060 words)

  
 TIF, Business, Wood River, Illinois (IL)
The only change is that during the life of the TIF (23 years) the property tax revenues are distributed differently-with the incremental increase in tax revenue going to the City of Wood River to finance some of the redevelopment expenditures within the TIF area.
TIF districts are one of the few remaining tools that local governments can use to attract new business, invest in infrastructure and rebuild blighted areas.
TIF districts are a popular and effective redevelopment tool, used in 47 states across the country and in over 250 Illinois cities.
www.woodriver.org /Business/TIF/Overview.htm   (776 words)

  
 Tax Increment Financing in the Kansas City and St. Louis Metropolitan Areas
TIF is also frequently being used in the outer parts of regions' particularly in the St. Louis area.
Local TIF administrators should be required to show that TIF subsidies are consistent with land-use and economic development needs both locally and in nearby areas.
If such reforms were put in place, TIF could be returned to its attractive main purpose: that of providing resources that would not otherwise be available to localities that badly need them to promote needed economic development and redevelopment.
www.brookings.edu /es/urban/publications/lucetif.htm   (778 words)

  
 TIF Districts
TIF is the most significant economic development tool available to local governments in Wisconsin.
TIF Districts 6,7 and 8 have assisted in the redevelopment of formerly tax-exempt properties, which today have a combined taxable value in excess of $4 million—and growing
Four of the seven existing TIF districts have assisted in the redevelopment of blighted or obsolete properties.
www.tworiverseconomicdevelopment.org /tif.htm   (306 words)

  
 Warrenville, IL :: TIF Information
Tax Increment Financing (TIF) is a local economic development tool, created by the state, giving municipalities the authority to designate areas of the community as TIF Districts for the purpose of eradicating deteriorated conditions and to undertake redevelopment, rehabilitation, and conservation measures within the district.
Once the TIF district is adopted, the assessed value of all of the property within the TIF District is established or “frozen” at the same level for the life of the TIF District for all overlapping districts, including the applicable city property tax levies.
The main revenue source for the standard TIF district is the property “tax increment”, which is the difference between the frozen property assessments from the start of the TIF, and the increased value of the assessments during each successive year of the TIF.
www.warrenville.il.us /b_bus-dev_tif-info.aspx   (1390 words)

  
 TIF - E-Democracy   (Site not responding. Last check: 2007-11-04)
In providing TIF subsidies, the city has extra leverage over a developer to make sure that the development is friendly and meets the needs of the community.
When the city grants a TIF subsidy to a development, the effect is also felt by the local school district and county government, neither of which has a direct say in the designation of a TIF.
A counter argument might suggest that any new expenses generated by a TIF project are offset by the long term benifits of the development on the local economy (in terms of jobs and spin-off development).
www.e-democracy.org /wiki/TIF   (780 words)

  
 tif
Creating a TIF District will divert millions of dollars in property taxes from District 64 and other taxing bodies, including Maine Township High School District 207 and the Park Ridge Park District, to pay for improvements in Uptown that are the responsibility of the City and the developers who build there.
Because the result of a TIF district is to divert property taxes from school districts, park districts, and other taxing bodies to the city for use in the redevelopment process, the legislature has limited their use to situations that truly deserve such extraordinary measures.
As we view it, the question regarding creation of this TIF District is whether and to what extent its creation will harm District 64 financially by diverting property taxes that would otherwise flow to District 64 but would instead go into the TIF District to be spent by the City on the redevelopment process.
www.d64.org /Dist64/tif.htm   (2743 words)

  
 NCBG: TIFs
TIFs were originally intended as a targeted solution for the most distressed neighborhoods -- those parts of the City with little prospect of seeing any private development.
Increasingly, TIFs are being used downtown and in the fast-growing neighborhoods surrounding the Loop.
TIF allows the City to re-invest all new property tax dollars generated from the designated TIF district for a 23-year period.
www.ncbg.org /tifs/tifs.htm   (345 words)

  
 Chicago Reader: The TIF Archive
TIF districts are siphoning hundreds of millions of dollars away from schools and other city services, and nobody even has to tell us why.
There's no overall TIF budget that has to be approved by the City Council, though the aldermen have to sign off on the regular city budget every year.
The aldermen do have some say in how TIF funds are spent in their wards, but according to the ones I talked to, they often don't know what money's available or what it's being spent on.
www.chicagoreader.com /tifarchive/050204   (1484 words)

  
 TIF Extension
For example, when the downtown TIF was established in 1983, real estate taxes for the area were less than $3 million per year and shared by all taxing bodies.
Originally the intent of the TIF was to turn around a decaying downtown area but increasingly funds are spent to stimulate additional growth.
TIF funds were also used to subsidize Taxman’s Euclid and Lake condominium development and the Harlem and Lake retail development.
www.redcoop.org /TIF/Viewpoint_010803.htm   (1057 words)

  
 Understanding the Proposed TIF District in Richmond
The TIF board could do something like pay to have a road built or reconfigured, or pay to run sewer and water to a site or do any number of things that developer or business might have to pay for it they were starting up in another area.
TIF districts were originally designed to assist inner-city slum areas to be cleaned up, provide all levels of housing affordability and attract new business to the area.
TIF takes away from public participation, and government accountability by creating separate TIF board that will operate on the advise of highly paid consultants that will also advise that board on how to sell you on the idea and be ready with answers to all common complaints.
richmondtif.com   (2558 words)

  
 RMTC Industrial TIF Task Force - Regional Manufacturing Training Collaborative
TIF (Tax Increment Financing) is a City of Chicago program designed to provide financial incentives for private companies to invest in designated industrial, commercial and residential areas of the City.
Funding for TIF eligible activities is derived from the increase in incremental tax revenues generated by new construction or rehabilitation projects within the boundaries of the TIF district.
The Industrial TIF Task Force was formed in order to develop a strategy for capturing TIF funds allocated for job training throughout dozens (rather than entering in an exact number since that number changes rather frequently) of TIF districts established by the City of Chicago.
www.luc.edu /curl/prag/projects/rmtc/taskforce.html   (995 words)

  
 District Improvement Financing (DIF)/Tax Increment Financing (TIF)
Data demonstrating that the TIF Zone is located so as to maximize the likelihood of a net economic benefit to the municipality, such as land use information, proximity of mass transit services and tenants within the zone.
A TIF Zone must be in an area approved by the EACC as an Economic Opportunity Area (EOA) or found to be an area "presenting exceptional opportunities for economic development" by the Director of Economic Development.
TIF can be used as an incentive for housing development in urban centers.
www.mass.gov /envir/smart_growth_toolkit/pages/mod-diftif.html   (1181 words)

  
 TIF -- UTPA Library   (Site not responding. Last check: 2007-11-04)
In 1995 "the Telecommunications Infrastructure Fund (TIF) was created to fund telecommunications initiatives and distance learning projects in schools, libraries and hospitals throughout the state in the form of grants and loans."(*) The Texas State Legislature decided that telephone companies would pay for TIF, but also that TIF would expire after ten years.
TIF has provided educational resources worth $100,000,000s to libraries and schools across the state during the past decade.
TIF charges of a few cents are added to the telephone bill every month for Texas residents.
www.lib.panam.edu /libinfo/tif.asp   (369 words)

  
 Advanced Test Products- ROBINAIR, PROMAX & TIF About Us   (Site not responding. Last check: 2007-11-04)
TIF™ was originally formed in Miami, FL in the 1950's under the name Thermal Industries of Florida, Inc., and was an outcropping of Miami's then largest HVAC/R contractor.
TIF™ brand products are provided in multi-lingual packaging, with 4 or 5 language instructions and are customized for international markets throughout the world.
TIF™ prides itself on continuous New Product Introduction and aggressively bringing laboratory technology and precision to the field service technician; because, in our minds, Today Is the Future.
www.tif.com /aboutus.html   (1126 words)

  
 TIF Image File Format
TIF with G3 compression is the universal standard for fax and multi-page line art documents.
It is often hardly effective at all for 48 bit images (VueScan 48 bit TIF LZW is an exception to this, using an efficient data type that not all others use).
Give TIF very major consideration, both for photos and documents, especially for archiving anything where quality is important.
www.scantips.com /basics9t.html   (709 words)

  
 TIF Fund Management LLC - Disclosure and Fair Practice
TIF’s role is: development of investment vehicles, supervision of assets under management, analysis of strategies, allocation of assets to strategies, diversification among strategies and markets, communications, vigilance, administration, and reporting.
TIF supervises, directs and administrates all of its own funds.
TIF will also demonstrate its basic financial solvency along with that of the specific product in which you are invested.
www.tiffund.com /guest/disclosure.html   (1233 words)

  
 TIF Legislative Proposal
This proposal allows for a successful TIF to donate excess current year revenue above and beyond current debt service to a TIF district that was established for redevelopment, affordable housing, or environmental remediation purposes, thereby fulfilling the original intent of the TIF law.
If a TIF can make expenditures up to and through years 23 and 30, it follows that the TIF boundaries must also be able to be amended.
Where a TIF project plan includes possible grants and loans to developers, require that language be incorporated into the public hearing notice and a copy of any future development agreement be provided to the taxing entities.
www.hamilton-consulting.com /updates/1110legproposal_hough.html   (1231 words)

  
 NCBG: TIFs: Whats a TIF?
TIF allows the City to re-invest all new property tax dollars in the neighborhood from which they came for a 23-year period.
With consistent community participation, TIF can be a tool for implementing a community-based revitalization plan through encouraging affordable housing development, improving parks and schools, fixing basic infrastructure, putting vacant land to productive use, creating good-paying jobs, and meeting other local needs.
In short, TIF is a mixed bag, and its success or failure depends on how active the community is in their planning and implementation.
www.ncbg.org /tifs/tif_what.htm   (198 words)

  
 Modelling Thesauri for the Semantic Web: Draft proposal for a standard RDF Schema   (Site not responding. Last check: 2007-11-04)
Our TIF is an RDF schema, and the intended use of the properties and classes of the schema are described.
However, we intend that the concept-oriented TIF is used as the main representation format, on which validation tests are performed.
The TIF is built as an extensible framework of classes and properties.
www.w3c.rl.ac.uk /SWAD/thesaurus/tif/deliv81/final.html   (2889 words)

  
 Office of Planning & Economic Development : TIF
The TIF districts were established in order to attract private developers to blighted areas that were in need of redevelopment.
TIF induces development where it would not otherwise take place, which in turn creates employment opportunities and generates additional local and state tax revenue.
Buildings located in the Downtown T.I.F. District are eligible to apply for financial assistance to repair and restore the visible exteriors of their buildings.
www.springfield.il.us /oped/tif.htm   (891 words)

  
 The Austin Chronicle News: State Budget Wars Spawn Tiff Over TIF
Half of the TIF is already reserved for public schools, and the other half supports, among other things, collaborations that can include public schools, so the K-12 world has received nearly 60% of the TIF's grants.
And in 2001, the Lege decided that the TIF and not general revenue funds should be the primary source for telecom-related public sector spending.
The SAO also charged that the TIF's grant criteria were not informed by an actual assessment of the state's tech needs or by the Lege's desire that the money be focused on the poorer and needier among its target groups.
www.austinchronicle.com /issues/dispatch/2003-03-07/pols_feature3.html   (945 words)

  
 Office of the Chief Financial Officer: Tax Increment Financing (TIF) Program
The Tax Increment Financing (TIF) Program is an economic development tool administered jointly by the Office of the Chief Financial Officer and the Office of the Deputy Mayor for Planning and Economic Development.
TIF is not a loan; the development's taxes, which would already have to be paid, are used to pay back the principal and interest on the bonds.
The District is authorized to have a maximum of $300 million in TIF bonds outstanding.
cfo.dc.gov /cfo/cwp/view,a,1325,q,590509,cfoNav,|33208|.asp   (173 words)

  
 VBgov.com - Tax Increment Financing
These funds derived from the TIF can be used to fund the project on a pay-as-you-go basis or to pay debt service on bonds issued to finance the improvements.
While there could be some "natural" tax growth within the TIF district which would be captured by the TIF to fund the project, increases in other taxes both inside and outside the district stimulated by the TIF project are expected to offset this to the benefit of the general tax base.
Once the TIF is ended, all real estate tax revenues -- including the increased incremental revenue that otherwise would not have been achieved -- go into the General Fund and become available for city and school programs.
www.vbgov.com /city_hall/hot_topics/0,,10538,00.html   (582 words)

  
 Study: TIF Doesn’t Work, Hurts Neighborhoods, and Is Unfair - by - The Heartland Institute
Moreover, TIF tends to favor large businesses over small ones, often excludes local businesses and residents from the planning process, and operates in a manner that contradicts conventional notions of justice and fairness.
TIF did not consistently increase the number of businesses; of the three commercially oriented TIF districts studied, two experienced a net loss of businesses.
TIF thus creates “winners” and “losers.” The losers are small business owners, landowners who face condemnation, and low-income renters forced to leave the community to find affordable housing.
www.heartland.org /Article.cfm?artId=11876   (777 words)

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