SlideShare a Scribd company logo
TAX INCREMENTAL FINANCING
Public Financial Management
5 May 2014 – ae847c39cbd2+
James P. Howard, II
School of Public and International Affairs
Why Tax Incremental Financing?
◦ TIFs are a subsidy
◦ Used to fund infrastucture or redevelopment
◦ Used by public-private partnerships
2
Bond Issuance
◦ Bonds are issued to pay for development
◦ Bonds are issued by the government
◦ Bonds are tax-exempt or tax-advantaged
◦ Bond proceeds are used for real estate development within TIF district
3
Future Taxes
◦ Property taxes are leveled on the value of the property
◦ As property values increase, tax revenue increases
◦ Increased amount of taxes returned to government are dedicated to paying off
bonds
◦ Government still collects the baseline amount
4
Administrivia
◦ Usually administered by local government
◦ TIF may have its own formal management and staff
◦ Taxes are usually collected and paid by creating authority
5
Types of Projects
◦ Urban renewal proejcts
◦ Transit-oriented development
◦ Redevelopment of industrial sites
◦ Development of new parks or open space
6
Sustainable Bonds in Maryland
◦ Since 2013, Maryland allows TIFs to be used to fund sustainable development
◦ TIFs can pay for environmental clean up
◦ Historic preservation
◦ Affordable housing
◦ Schools and stormwater management
7
More on Maryland
◦ Maryland local governments can increase borrowing
◦ MEDCO can sponsor bond issuance
◦ Debt will not count on local government’s balance sheet
8
Examples
◦ National Harbor
◦ Baltimore’s Harbor Point
◦ Metro Centre in Baltimore County?
9
Criticisms of TIFs
◦ Can create unaccountable slush funds
◦ Projects may not be realized
◦ Benefits tend to flow to special interests
◦ TIFs often lack transparancy
10

More Related Content

Viewers also liked

Private Placement
Private PlacementPrivate Placement
Private Placement
InduStreams
 
Private Placement
Private PlacementPrivate Placement
Private Placement
Fabiha Juveria
 
Private Placement
Private PlacementPrivate Placement
Private Placement
Nirooj Fidin
 
Securitization
SecuritizationSecuritization
Securitization
Dharmik
 
Warrant ppt
Warrant pptWarrant ppt
Warrant ppt
Muhammed Nowfal S
 
Warrants (1)
Warrants (1)Warrants (1)
Warrants (1)
rohitnandanrai
 
Securitization presentation
Securitization presentationSecuritization presentation
IPO
IPOIPO
Presentation on securitization
Presentation on securitizationPresentation on securitization
Presentation on securitization
buddingbachelor
 
Initial Public Offering (IPO)
Initial Public Offering (IPO)Initial Public Offering (IPO)
Initial Public Offering (IPO)
Prashant Maharshi
 
Loans and types
Loans and types Loans and types
Loans and types
GLG
 
Finance powerpoint
Finance powerpointFinance powerpoint
Finance powerpoint
bloomy86
 
Venture capital
Venture capital Venture capital
Venture capital
Omkar More
 
Venture capital ppt
Venture capital pptVenture capital ppt
Venture capital ppt
Prof. Chhaya Sachin Patel
 
Finance, meaning, concept and types
Finance, meaning, concept and typesFinance, meaning, concept and types
Finance, meaning, concept and types
Anandapadmanabhan Kottiyam
 

Viewers also liked (15)

Private Placement
Private PlacementPrivate Placement
Private Placement
 
Private Placement
Private PlacementPrivate Placement
Private Placement
 
Private Placement
Private PlacementPrivate Placement
Private Placement
 
Securitization
SecuritizationSecuritization
Securitization
 
Warrant ppt
Warrant pptWarrant ppt
Warrant ppt
 
Warrants (1)
Warrants (1)Warrants (1)
Warrants (1)
 
Securitization presentation
Securitization presentationSecuritization presentation
Securitization presentation
 
IPO
IPOIPO
IPO
 
Presentation on securitization
Presentation on securitizationPresentation on securitization
Presentation on securitization
 
Initial Public Offering (IPO)
Initial Public Offering (IPO)Initial Public Offering (IPO)
Initial Public Offering (IPO)
 
Loans and types
Loans and types Loans and types
Loans and types
 
Finance powerpoint
Finance powerpointFinance powerpoint
Finance powerpoint
 
Venture capital
Venture capital Venture capital
Venture capital
 
Venture capital ppt
Venture capital pptVenture capital ppt
Venture capital ppt
 
Finance, meaning, concept and types
Finance, meaning, concept and typesFinance, meaning, concept and types
Finance, meaning, concept and types
 

Similar to James Howard - Public Financial Management - Tax Incremental Financing

Tax increment financing (TIF)
Tax increment financing (TIF)Tax increment financing (TIF)
Tax increment financing (TIF)
Abdul saleem
 
DMarshall_Public
DMarshall_PublicDMarshall_Public
DMarshall_Public
Dave Marshall
 
'Califonria Competes' tax credits now awarded for creating jobs.
'Califonria Competes' tax credits now awarded for creating jobs.'Califonria Competes' tax credits now awarded for creating jobs.
'Califonria Competes' tax credits now awarded for creating jobs.
Concerned Capital
 
Economic project.pptx
Economic project.pptxEconomic project.pptx
Economic project.pptx
Deepakkumar894597
 
20151015 Tax Credits and the Size of Federal Spending for LinkedIn vs
20151015 Tax Credits and the Size of Federal Spending for LinkedIn vs20151015 Tax Credits and the Size of Federal Spending for LinkedIn vs
20151015 Tax Credits and the Size of Federal Spending for LinkedIn vs
Ian Feller
 
Expiry of operating agreements may 2015
Expiry of operating agreements  may 2015Expiry of operating agreements  may 2015
2016 City of Goddard Budget - GFOA
2016 City of Goddard Budget - GFOA2016 City of Goddard Budget - GFOA
2016 City of Goddard Budget - GFOA
Matt Lawn
 
Social impact bonds
Social impact bondsSocial impact bonds
Social impact bonds
West of England Rural Network
 
Tax-Increment Financing - How to Effectively Use it in Your Community - GSMSu...
Tax-Increment Financing - How to Effectively Use it in Your Community - GSMSu...Tax-Increment Financing - How to Effectively Use it in Your Community - GSMSu...
Tax-Increment Financing - How to Effectively Use it in Your Community - GSMSu...
GrowSmart Maine
 
Leveraging Opportunity Zones to Support Regional Economic Development
Leveraging Opportunity Zones to Support Regional Economic DevelopmentLeveraging Opportunity Zones to Support Regional Economic Development
Leveraging Opportunity Zones to Support Regional Economic Development
nado-web
 
OEDA Infrastructure Puzzle Power Point 3-3-15
OEDA Infrastructure Puzzle Power Point 3-3-15OEDA Infrastructure Puzzle Power Point 3-3-15
OEDA Infrastructure Puzzle Power Point 3-3-15
David Robinson
 
Development Economics
Development EconomicsDevelopment Economics
Development Economics
RJay35
 
Chapter(3)
Chapter(3)Chapter(3)
Chapter(3)
Dr. Muath Asmar
 
Neighborhood summit 2013
Neighborhood summit 2013Neighborhood summit 2013
Neighborhood summit 2013
City of Cincinnati
 
2013 pci investment seminar presentation v1 dbv
2013 pci investment seminar presentation v1 dbv2013 pci investment seminar presentation v1 dbv
2013 pci investment seminar presentation v1 dbv
Dan Torgerson
 
Public finance for BSBA
Public finance for BSBAPublic finance for BSBA
Public finance for BSBA
Rakim Perez
 
CHAPTER4Accounting for Governmental Operating
CHAPTER4Accounting for Governmental Operating CHAPTER4Accounting for Governmental Operating
CHAPTER4Accounting for Governmental Operating
JinElias52
 
enhanced-infrastructure-distri
enhanced-infrastructure-distrienhanced-infrastructure-distri
enhanced-infrastructure-distri
Mike Debiak
 
PRESIDENTIAL MID-TERM REPORT Summary of Policies and Strategies for Deliveri...
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Deliveri...PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Deliveri...
PRESIDENTIAL MID-TERM REPORT Summary of Policies and Strategies for Deliveri...
Nigeria Centenary
 
Presidential Mid-Term Report- Summaries of Policies and Strategies for Delive...
Presidential Mid-Term Report- Summaries of Policies and Strategies for Delive...Presidential Mid-Term Report- Summaries of Policies and Strategies for Delive...
Presidential Mid-Term Report- Summaries of Policies and Strategies for Delive...
TransformNG
 

Similar to James Howard - Public Financial Management - Tax Incremental Financing (20)

Tax increment financing (TIF)
Tax increment financing (TIF)Tax increment financing (TIF)
Tax increment financing (TIF)
 
DMarshall_Public
DMarshall_PublicDMarshall_Public
DMarshall_Public
 
'Califonria Competes' tax credits now awarded for creating jobs.
'Califonria Competes' tax credits now awarded for creating jobs.'Califonria Competes' tax credits now awarded for creating jobs.
'Califonria Competes' tax credits now awarded for creating jobs.
 
Economic project.pptx
Economic project.pptxEconomic project.pptx
Economic project.pptx
 
20151015 Tax Credits and the Size of Federal Spending for LinkedIn vs
20151015 Tax Credits and the Size of Federal Spending for LinkedIn vs20151015 Tax Credits and the Size of Federal Spending for LinkedIn vs
20151015 Tax Credits and the Size of Federal Spending for LinkedIn vs
 
Expiry of operating agreements may 2015
Expiry of operating agreements  may 2015Expiry of operating agreements  may 2015
Expiry of operating agreements may 2015
 
2016 City of Goddard Budget - GFOA
2016 City of Goddard Budget - GFOA2016 City of Goddard Budget - GFOA
2016 City of Goddard Budget - GFOA
 
Social impact bonds
Social impact bondsSocial impact bonds
Social impact bonds
 
Tax-Increment Financing - How to Effectively Use it in Your Community - GSMSu...
Tax-Increment Financing - How to Effectively Use it in Your Community - GSMSu...Tax-Increment Financing - How to Effectively Use it in Your Community - GSMSu...
Tax-Increment Financing - How to Effectively Use it in Your Community - GSMSu...
 
Leveraging Opportunity Zones to Support Regional Economic Development
Leveraging Opportunity Zones to Support Regional Economic DevelopmentLeveraging Opportunity Zones to Support Regional Economic Development
Leveraging Opportunity Zones to Support Regional Economic Development
 
OEDA Infrastructure Puzzle Power Point 3-3-15
OEDA Infrastructure Puzzle Power Point 3-3-15OEDA Infrastructure Puzzle Power Point 3-3-15
OEDA Infrastructure Puzzle Power Point 3-3-15
 
Development Economics
Development EconomicsDevelopment Economics
Development Economics
 
Chapter(3)
Chapter(3)Chapter(3)
Chapter(3)
 
Neighborhood summit 2013
Neighborhood summit 2013Neighborhood summit 2013
Neighborhood summit 2013
 
2013 pci investment seminar presentation v1 dbv
2013 pci investment seminar presentation v1 dbv2013 pci investment seminar presentation v1 dbv
2013 pci investment seminar presentation v1 dbv
 
Public finance for BSBA
Public finance for BSBAPublic finance for BSBA
Public finance for BSBA
 
CHAPTER4Accounting for Governmental Operating
CHAPTER4Accounting for Governmental Operating CHAPTER4Accounting for Governmental Operating
CHAPTER4Accounting for Governmental Operating
 
enhanced-infrastructure-distri
enhanced-infrastructure-distrienhanced-infrastructure-distri
enhanced-infrastructure-distri
 
PRESIDENTIAL MID-TERM REPORT Summary of Policies and Strategies for Deliveri...
PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Deliveri...PRESIDENTIAL MID-TERM REPORT  Summary of Policies and Strategies for Deliveri...
PRESIDENTIAL MID-TERM REPORT Summary of Policies and Strategies for Deliveri...
 
Presidential Mid-Term Report- Summaries of Policies and Strategies for Delive...
Presidential Mid-Term Report- Summaries of Policies and Strategies for Delive...Presidential Mid-Term Report- Summaries of Policies and Strategies for Delive...
Presidential Mid-Term Report- Summaries of Policies and Strategies for Delive...
 

More from James Howard

Municipal Solid Waste Management in Developing Countries
Municipal Solid Waste Management in Developing CountriesMunicipal Solid Waste Management in Developing Countries
Municipal Solid Waste Management in Developing Countries
James Howard
 
James Howard - The Little Red Menace
James Howard - The Little Red MenaceJames Howard - The Little Red Menace
James Howard - The Little Red Menace
James Howard
 
James Howard - The Culture of Affluence Looks at the Cold War
James Howard - The Culture of Affluence Looks at the Cold WarJames Howard - The Culture of Affluence Looks at the Cold War
James Howard - The Culture of Affluence Looks at the Cold War
James Howard
 
Big Data in the Online Classroom
Big Data in the Online ClassroomBig Data in the Online Classroom
Big Data in the Online Classroom
James Howard
 
NFIP Dissertation Proposal Defense
NFIP Dissertation Proposal DefenseNFIP Dissertation Proposal Defense
NFIP Dissertation Proposal Defense
James Howard
 
NFIP Dissertation Defense
NFIP Dissertation DefenseNFIP Dissertation Defense
NFIP Dissertation Defense
James Howard
 
Numerical Analysis in R
Numerical Analysis in RNumerical Analysis in R
Numerical Analysis in R
James Howard
 
Planning for Martian Polity
Planning for Martian PolityPlanning for Martian Polity
Planning for Martian Polity
James Howard
 
Virtual Bumblebees
Virtual BumblebeesVirtual Bumblebees
Virtual Bumblebees
James Howard
 
Using Agile Methods for Course Management and Delivery
Using Agile Methods for Course Management and DeliveryUsing Agile Methods for Course Management and Delivery
Using Agile Methods for Course Management and Delivery
James Howard
 
Private Applications of Local Government Risk Metrics
Private Applications of Local Government Risk MetricsPrivate Applications of Local Government Risk Metrics
Private Applications of Local Government Risk Metrics
James Howard
 
Galaxies and cosmology certificate
Galaxies and cosmology certificateGalaxies and cosmology certificate
Galaxies and cosmology certificate
James Howard
 
Astrobiology and the Search for Extraterrestrial Life
Astrobiology and the Search for Extraterrestrial LifeAstrobiology and the Search for Extraterrestrial Life
Astrobiology and the Search for Extraterrestrial Life
James Howard
 
An Introduction to the U.S. Food System: Perspectives from Public Health
An Introduction to the U.S. Food System: Perspectives from Public HealthAn Introduction to the U.S. Food System: Perspectives from Public Health
An Introduction to the U.S. Food System: Perspectives from Public Health
James Howard
 
Estimating the Net Social Benefits of the National Flood Insurance Program
Estimating the Net Social Benefits of the National Flood Insurance ProgramEstimating the Net Social Benefits of the National Flood Insurance Program
Estimating the Net Social Benefits of the National Flood Insurance Program
James Howard
 
Maryland ASPA Awards Nomination 2013
Maryland ASPA Awards Nomination 2013Maryland ASPA Awards Nomination 2013
Maryland ASPA Awards Nomination 2013
James Howard
 
Measuring the Impacts of the National Flood Insurance Program
Measuring the Impacts of the National Flood Insurance ProgramMeasuring the Impacts of the National Flood Insurance Program
Measuring the Impacts of the National Flood Insurance Program
James Howard
 
Review Of The Business Plan
Review Of The Business PlanReview Of The Business Plan
Review Of The Business Plan
James Howard
 
Review of the Columbia Association's Fiscal Targets
Review of the Columbia Association's Fiscal TargetsReview of the Columbia Association's Fiscal Targets
Review of the Columbia Association's Fiscal Targets
James Howard
 
Working with Mediawiki
Working with MediawikiWorking with Mediawiki
Working with Mediawiki
James Howard
 

More from James Howard (20)

Municipal Solid Waste Management in Developing Countries
Municipal Solid Waste Management in Developing CountriesMunicipal Solid Waste Management in Developing Countries
Municipal Solid Waste Management in Developing Countries
 
James Howard - The Little Red Menace
James Howard - The Little Red MenaceJames Howard - The Little Red Menace
James Howard - The Little Red Menace
 
James Howard - The Culture of Affluence Looks at the Cold War
James Howard - The Culture of Affluence Looks at the Cold WarJames Howard - The Culture of Affluence Looks at the Cold War
James Howard - The Culture of Affluence Looks at the Cold War
 
Big Data in the Online Classroom
Big Data in the Online ClassroomBig Data in the Online Classroom
Big Data in the Online Classroom
 
NFIP Dissertation Proposal Defense
NFIP Dissertation Proposal DefenseNFIP Dissertation Proposal Defense
NFIP Dissertation Proposal Defense
 
NFIP Dissertation Defense
NFIP Dissertation DefenseNFIP Dissertation Defense
NFIP Dissertation Defense
 
Numerical Analysis in R
Numerical Analysis in RNumerical Analysis in R
Numerical Analysis in R
 
Planning for Martian Polity
Planning for Martian PolityPlanning for Martian Polity
Planning for Martian Polity
 
Virtual Bumblebees
Virtual BumblebeesVirtual Bumblebees
Virtual Bumblebees
 
Using Agile Methods for Course Management and Delivery
Using Agile Methods for Course Management and DeliveryUsing Agile Methods for Course Management and Delivery
Using Agile Methods for Course Management and Delivery
 
Private Applications of Local Government Risk Metrics
Private Applications of Local Government Risk MetricsPrivate Applications of Local Government Risk Metrics
Private Applications of Local Government Risk Metrics
 
Galaxies and cosmology certificate
Galaxies and cosmology certificateGalaxies and cosmology certificate
Galaxies and cosmology certificate
 
Astrobiology and the Search for Extraterrestrial Life
Astrobiology and the Search for Extraterrestrial LifeAstrobiology and the Search for Extraterrestrial Life
Astrobiology and the Search for Extraterrestrial Life
 
An Introduction to the U.S. Food System: Perspectives from Public Health
An Introduction to the U.S. Food System: Perspectives from Public HealthAn Introduction to the U.S. Food System: Perspectives from Public Health
An Introduction to the U.S. Food System: Perspectives from Public Health
 
Estimating the Net Social Benefits of the National Flood Insurance Program
Estimating the Net Social Benefits of the National Flood Insurance ProgramEstimating the Net Social Benefits of the National Flood Insurance Program
Estimating the Net Social Benefits of the National Flood Insurance Program
 
Maryland ASPA Awards Nomination 2013
Maryland ASPA Awards Nomination 2013Maryland ASPA Awards Nomination 2013
Maryland ASPA Awards Nomination 2013
 
Measuring the Impacts of the National Flood Insurance Program
Measuring the Impacts of the National Flood Insurance ProgramMeasuring the Impacts of the National Flood Insurance Program
Measuring the Impacts of the National Flood Insurance Program
 
Review Of The Business Plan
Review Of The Business PlanReview Of The Business Plan
Review Of The Business Plan
 
Review of the Columbia Association's Fiscal Targets
Review of the Columbia Association's Fiscal TargetsReview of the Columbia Association's Fiscal Targets
Review of the Columbia Association's Fiscal Targets
 
Working with Mediawiki
Working with MediawikiWorking with Mediawiki
Working with Mediawiki
 

Recently uploaded

Digital Artefact 1 - Tiny Home Environmental Design
Digital Artefact 1 - Tiny Home Environmental DesignDigital Artefact 1 - Tiny Home Environmental Design
Digital Artefact 1 - Tiny Home Environmental Design
amberjdewit93
 
Film vocab for eal 3 students: Australia the movie
Film vocab for eal 3 students: Australia the movieFilm vocab for eal 3 students: Australia the movie
Film vocab for eal 3 students: Australia the movie
Nicholas Montgomery
 
Wound healing PPT
Wound healing PPTWound healing PPT
Wound healing PPT
Jyoti Chand
 
Advanced Java[Extra Concepts, Not Difficult].docx
Advanced Java[Extra Concepts, Not Difficult].docxAdvanced Java[Extra Concepts, Not Difficult].docx
Advanced Java[Extra Concepts, Not Difficult].docx
adhitya5119
 
How to deliver Powerpoint Presentations.pptx
How to deliver Powerpoint  Presentations.pptxHow to deliver Powerpoint  Presentations.pptx
How to deliver Powerpoint Presentations.pptx
HajraNaeem15
 
How to Create a More Engaging and Human Online Learning Experience
How to Create a More Engaging and Human Online Learning Experience How to Create a More Engaging and Human Online Learning Experience
How to Create a More Engaging and Human Online Learning Experience
Wahiba Chair Training & Consulting
 
The Diamonds of 2023-2024 in the IGRA collection
The Diamonds of 2023-2024 in the IGRA collectionThe Diamonds of 2023-2024 in the IGRA collection
The Diamonds of 2023-2024 in the IGRA collection
Israel Genealogy Research Association
 
Natural birth techniques - Mrs.Akanksha Trivedi Rama University
Natural birth techniques - Mrs.Akanksha Trivedi Rama UniversityNatural birth techniques - Mrs.Akanksha Trivedi Rama University
Natural birth techniques - Mrs.Akanksha Trivedi Rama University
Akanksha trivedi rama nursing college kanpur.
 
Chapter 4 - Islamic Financial Institutions in Malaysia.pptx
Chapter 4 - Islamic Financial Institutions in Malaysia.pptxChapter 4 - Islamic Financial Institutions in Malaysia.pptx
Chapter 4 - Islamic Financial Institutions in Malaysia.pptx
Mohd Adib Abd Muin, Senior Lecturer at Universiti Utara Malaysia
 
ANATOMY AND BIOMECHANICS OF HIP JOINT.pdf
ANATOMY AND BIOMECHANICS OF HIP JOINT.pdfANATOMY AND BIOMECHANICS OF HIP JOINT.pdf
ANATOMY AND BIOMECHANICS OF HIP JOINT.pdf
Priyankaranawat4
 
Cognitive Development Adolescence Psychology
Cognitive Development Adolescence PsychologyCognitive Development Adolescence Psychology
Cognitive Development Adolescence Psychology
paigestewart1632
 
What is Digital Literacy? A guest blog from Andy McLaughlin, University of Ab...
What is Digital Literacy? A guest blog from Andy McLaughlin, University of Ab...What is Digital Literacy? A guest blog from Andy McLaughlin, University of Ab...
What is Digital Literacy? A guest blog from Andy McLaughlin, University of Ab...
GeorgeMilliken2
 
How to Make a Field Mandatory in Odoo 17
How to Make a Field Mandatory in Odoo 17How to Make a Field Mandatory in Odoo 17
How to Make a Field Mandatory in Odoo 17
Celine George
 
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UP
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UPLAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UP
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UP
RAHUL
 
writing about opinions about Australia the movie
writing about opinions about Australia the moviewriting about opinions about Australia the movie
writing about opinions about Australia the movie
Nicholas Montgomery
 
Chapter wise All Notes of First year Basic Civil Engineering.pptx
Chapter wise All Notes of First year Basic Civil Engineering.pptxChapter wise All Notes of First year Basic Civil Engineering.pptx
Chapter wise All Notes of First year Basic Civil Engineering.pptx
Denish Jangid
 
How to Fix the Import Error in the Odoo 17
How to Fix the Import Error in the Odoo 17How to Fix the Import Error in the Odoo 17
How to Fix the Import Error in the Odoo 17
Celine George
 
Your Skill Boost Masterclass: Strategies for Effective Upskilling
Your Skill Boost Masterclass: Strategies for Effective UpskillingYour Skill Boost Masterclass: Strategies for Effective Upskilling
Your Skill Boost Masterclass: Strategies for Effective Upskilling
Excellence Foundation for South Sudan
 
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...
PECB
 
The basics of sentences session 6pptx.pptx
The basics of sentences session 6pptx.pptxThe basics of sentences session 6pptx.pptx
The basics of sentences session 6pptx.pptx
heathfieldcps1
 

Recently uploaded (20)

Digital Artefact 1 - Tiny Home Environmental Design
Digital Artefact 1 - Tiny Home Environmental DesignDigital Artefact 1 - Tiny Home Environmental Design
Digital Artefact 1 - Tiny Home Environmental Design
 
Film vocab for eal 3 students: Australia the movie
Film vocab for eal 3 students: Australia the movieFilm vocab for eal 3 students: Australia the movie
Film vocab for eal 3 students: Australia the movie
 
Wound healing PPT
Wound healing PPTWound healing PPT
Wound healing PPT
 
Advanced Java[Extra Concepts, Not Difficult].docx
Advanced Java[Extra Concepts, Not Difficult].docxAdvanced Java[Extra Concepts, Not Difficult].docx
Advanced Java[Extra Concepts, Not Difficult].docx
 
How to deliver Powerpoint Presentations.pptx
How to deliver Powerpoint  Presentations.pptxHow to deliver Powerpoint  Presentations.pptx
How to deliver Powerpoint Presentations.pptx
 
How to Create a More Engaging and Human Online Learning Experience
How to Create a More Engaging and Human Online Learning Experience How to Create a More Engaging and Human Online Learning Experience
How to Create a More Engaging and Human Online Learning Experience
 
The Diamonds of 2023-2024 in the IGRA collection
The Diamonds of 2023-2024 in the IGRA collectionThe Diamonds of 2023-2024 in the IGRA collection
The Diamonds of 2023-2024 in the IGRA collection
 
Natural birth techniques - Mrs.Akanksha Trivedi Rama University
Natural birth techniques - Mrs.Akanksha Trivedi Rama UniversityNatural birth techniques - Mrs.Akanksha Trivedi Rama University
Natural birth techniques - Mrs.Akanksha Trivedi Rama University
 
Chapter 4 - Islamic Financial Institutions in Malaysia.pptx
Chapter 4 - Islamic Financial Institutions in Malaysia.pptxChapter 4 - Islamic Financial Institutions in Malaysia.pptx
Chapter 4 - Islamic Financial Institutions in Malaysia.pptx
 
ANATOMY AND BIOMECHANICS OF HIP JOINT.pdf
ANATOMY AND BIOMECHANICS OF HIP JOINT.pdfANATOMY AND BIOMECHANICS OF HIP JOINT.pdf
ANATOMY AND BIOMECHANICS OF HIP JOINT.pdf
 
Cognitive Development Adolescence Psychology
Cognitive Development Adolescence PsychologyCognitive Development Adolescence Psychology
Cognitive Development Adolescence Psychology
 
What is Digital Literacy? A guest blog from Andy McLaughlin, University of Ab...
What is Digital Literacy? A guest blog from Andy McLaughlin, University of Ab...What is Digital Literacy? A guest blog from Andy McLaughlin, University of Ab...
What is Digital Literacy? A guest blog from Andy McLaughlin, University of Ab...
 
How to Make a Field Mandatory in Odoo 17
How to Make a Field Mandatory in Odoo 17How to Make a Field Mandatory in Odoo 17
How to Make a Field Mandatory in Odoo 17
 
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UP
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UPLAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UP
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UP
 
writing about opinions about Australia the movie
writing about opinions about Australia the moviewriting about opinions about Australia the movie
writing about opinions about Australia the movie
 
Chapter wise All Notes of First year Basic Civil Engineering.pptx
Chapter wise All Notes of First year Basic Civil Engineering.pptxChapter wise All Notes of First year Basic Civil Engineering.pptx
Chapter wise All Notes of First year Basic Civil Engineering.pptx
 
How to Fix the Import Error in the Odoo 17
How to Fix the Import Error in the Odoo 17How to Fix the Import Error in the Odoo 17
How to Fix the Import Error in the Odoo 17
 
Your Skill Boost Masterclass: Strategies for Effective Upskilling
Your Skill Boost Masterclass: Strategies for Effective UpskillingYour Skill Boost Masterclass: Strategies for Effective Upskilling
Your Skill Boost Masterclass: Strategies for Effective Upskilling
 
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...
 
The basics of sentences session 6pptx.pptx
The basics of sentences session 6pptx.pptxThe basics of sentences session 6pptx.pptx
The basics of sentences session 6pptx.pptx
 

James Howard - Public Financial Management - Tax Incremental Financing

  • 1. TAX INCREMENTAL FINANCING Public Financial Management 5 May 2014 – ae847c39cbd2+ James P. Howard, II School of Public and International Affairs
  • 2. Why Tax Incremental Financing? ◦ TIFs are a subsidy ◦ Used to fund infrastucture or redevelopment ◦ Used by public-private partnerships 2
  • 3. Bond Issuance ◦ Bonds are issued to pay for development ◦ Bonds are issued by the government ◦ Bonds are tax-exempt or tax-advantaged ◦ Bond proceeds are used for real estate development within TIF district 3
  • 4. Future Taxes ◦ Property taxes are leveled on the value of the property ◦ As property values increase, tax revenue increases ◦ Increased amount of taxes returned to government are dedicated to paying off bonds ◦ Government still collects the baseline amount 4
  • 5. Administrivia ◦ Usually administered by local government ◦ TIF may have its own formal management and staff ◦ Taxes are usually collected and paid by creating authority 5
  • 6. Types of Projects ◦ Urban renewal proejcts ◦ Transit-oriented development ◦ Redevelopment of industrial sites ◦ Development of new parks or open space 6
  • 7. Sustainable Bonds in Maryland ◦ Since 2013, Maryland allows TIFs to be used to fund sustainable development ◦ TIFs can pay for environmental clean up ◦ Historic preservation ◦ Affordable housing ◦ Schools and stormwater management 7
  • 8. More on Maryland ◦ Maryland local governments can increase borrowing ◦ MEDCO can sponsor bond issuance ◦ Debt will not count on local government’s balance sheet 8
  • 9. Examples ◦ National Harbor ◦ Baltimore’s Harbor Point ◦ Metro Centre in Baltimore County? 9
  • 10. Criticisms of TIFs ◦ Can create unaccountable slush funds ◦ Projects may not be realized ◦ Benefits tend to flow to special interests ◦ TIFs often lack transparancy 10