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City Intelligence - Tax Increment Financing (TIF)
This work sets out the background to the Tax Increment Financing (TIF) model, and describes some case studies in which TIFs have been used, both here in the UK, and in the US.
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Tax Increment Financing Districts
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Tax increment financing (TIF) is a method of financing real estate development costs--i.e.: to encourage developers to construct buildings or other private improvements, or. to pay for public improvements, such as streets, sidewalks, sewer and water, and similar improvements. Developers making a large-scale investment that requires substantial public improvements may be able to use tax increment financing (TIF) to offset a portion of those costs. Local requirements may be included as part of this incentive.
Tax Increment Financing (TIF) Investment Committee Decisions
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TIF Investment Committee (TIC) data includes all projects reviewed by the TIF Investment Committee, since May, 2019. This includes all requests for TIF funding, including TIF-funded public infrastructure projects from the City departments and Sister Agencies, as well as private-sector housing and economic development projects. TIF is a special funding tool used by the City of Chicago to promote public and private investment across the city. Projects must be located on parcels within an active TIF district to be eligible.
Tax Increment Financing (TIF) Annual Report - Analysis of Special Tax Allocation Fund
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Analysis on the annual TIF report to show the revenue, expenditures and changes in the fund balance for each TIF district during the Reporting Year. For the detailed reports for each TIF district for each year, please see https://www.chicago.gov/city/en/depts/dcd/supp_info/tif-district-annual-reports-2004-present.html.
Tax Increment Financing (TIF) Annual Report - Projects
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A list of all active or completed projects or programs in a Redevelopment Project Area during the Reporting Year. For the detailed reports for each TIF district for each year, please see https://www.chicago.gov/city/en/depts/dcd/supp_info/tif-district-annual-reports-2004-present.html.
Financial Incentive Projects - (TIF-Funded) Economic Development
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This dataset includes detailed information regarding the use of TIF for all economic development projects with a City Council approved TIF redevelopment agreements (RDAs) since January, 2011. This does not include approved RDAs for affordable housing, approved intergovernmental agreements (IGAs), or TIF-funded public infrastructure. For more information on the Tax Increment Financing program including a full list of all TIF-funded projects, please see http://cityofchicago.org/tif.
Tax Increment Financing (TIF) Annual Report - Job and Increment Creation
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The number of projected jobs created versus the actual jobs created for new redevelopment agreements in the Reporting Year. The increment projected versus the actual increment created for new redevelopment agreements in the Reporting Year. For the detailed reports for each TIF district for each year, please see https://www.chicago.gov/city/en/depts/dcd/supp_info/tif-district-annual-reports-2004-present.html.
Tax Increment Financing (TIF) Annual Report - Itemized List of Expenditures from the Special Tax Allocation Fund
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An itemized list of all the expenditures in a fund balance for each TIF district during the Reporting Year. For the detailed reports for each TIF district for each year, please see https://www.chicago.gov/city/en/depts/dcd/supp_info/tif-district-annual-reports-2004-present.html.
Tax Increment Financing (TIF) Funded RDA and IGA Projects
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Information on TIF-funded Redevelopment Agreements (RDA) and Intergovernmental Agreements (IGA) approved by City Council since the inception of the TIF program. This dataset does not include public Infrastructure projects. More information on these projects, including documentation, is provided on the Department of Planning and Development’s (DPD) TIF Portal at https://webapps1.chicago.gov/ChicagoTif. For more information on the Tax Increment Financing program, please see http://cityofchicago.org/tif.
Louisville Metro Jefferson County KY - Local Only TIFs
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Tax Increment Financing (TIF) is a performance-based incentive that permits a portion of the new state and/or local taxes generated by a development to be rebated back to the developer to help support the development costs. These data are for the Local Only Tax Increment Financing Zones for Louisville, KY. Visit https://louisvilleky.gov/government/louisville-forward/legal-agreements for additional information on each TIF project.,
Tax Increment Financing (TIF) Annual Report - List of Vendors paid in excess of $10,000
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A list of all the vendors that were paid in excess of $10,000 in the Reporting Year. For the detailed reports for each TIF district for each year, please see https://www.chicago.gov/city/en/depts/dcd/supp_info/tif-district-annual-reports-2004-present.html.
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