The proposed Dempster/Dodge TIF district aims to revitalize a struggling retail area through tax increment financing. The district qualifies as a blighted area due to excessive vacancies above 50%, obsolete structures, and lagging property values. The TIF plan proposes a $20 million budget to fund infrastructure upgrades, environmental remediation, and developer incentives to attract new tenants and increase property values from a $10 million base to a projected $30-35 million. The plan must still be approved by city council through an ordinance approval process with additional opportunities for public comment.
Planning for Broadway now provides an opportunity to
coordinate transit-supportive land use, affordable housing
policies, transportation connectivity and public realm
design with the rapid transit project.
Raymond gindi - land value capture investment in infrastructureRaymond Gindi
In short, a reputable estate lawyer will take the time to walk you through the rather confusing process of setting up your final affairs to ensure that your best interests are met, as are those of your loved ones when you pass away.
Launching Your Project Using Sophisticated Real Estate Development Strategieslerchearly
Get insights on essential tools to getting your project off the ground. Lerch Early's real estate attorneys will present four sessions focusing on Structuring Mixed-Use Projects, Tax Credit Financing 101 for Development Projects, Making Your Ground Lease Financeable, and Tax Deferred Exchanges Using Condemnation Proceeds.
Planning for Broadway now provides an opportunity to
coordinate transit-supportive land use, affordable housing
policies, transportation connectivity and public realm
design with the rapid transit project.
Raymond gindi - land value capture investment in infrastructureRaymond Gindi
In short, a reputable estate lawyer will take the time to walk you through the rather confusing process of setting up your final affairs to ensure that your best interests are met, as are those of your loved ones when you pass away.
Launching Your Project Using Sophisticated Real Estate Development Strategieslerchearly
Get insights on essential tools to getting your project off the ground. Lerch Early's real estate attorneys will present four sessions focusing on Structuring Mixed-Use Projects, Tax Credit Financing 101 for Development Projects, Making Your Ground Lease Financeable, and Tax Deferred Exchanges Using Condemnation Proceeds.
This powerpoint, authored by Allan Cain, Beat Weber and Moises Festo, was presented by Development Workshop's director Allan Cain at the Annual World Bank Conference on Land and Poverty which took place from April 8 to 11, 2013 in Washington DC.
Despite a rather challenging environment, land readjustment in Angola has the potential to become an important tool for urban planning. The presentation shows that, while there is still no legal framework for land readjustment and a very limited culture of participation in urban planning processes, growing land markets and strong private sector partners can make land readjustment a viable option for local governments.
Land Readjustment in Colombia - By Erik Vergel-Tovarerikvergel
Slum Upgrading Using Participatory and Inclusive Land Readjustment (PILaR): Defining The Rules Of The Game - Expert Group Meeting
Nairobi, 3rd and 4th of December, 2013
Presentation of OECD work on the governance of land use made at the launch of the sythesis report, by Tamara Krawchenko and Abel Schumann, Regional Development Policy Division, OECD.
Overview of TIF and Recent TIF Law ChangesVierbicher
This presentation provides a history of tax incremental financing in Wisconsin, tax incremental financing basics, recent law changes, best practices in using TIF for community development and Examples of Projects.
Participatory Inclusive Land Readjustment in Angola presented by Allan Cain, Development Workshop, to the Workshop on Sustainable Urban Land Use Planning. Seoul, Korea, May 30-June 2, 2016.
I upload all my TIF presentations to http://www.slideshare.net/tomtee. These presentations have been viewed over 44,000 times! The champ is the presentation on the 27th ward which has been viewed 4,292 times. So - if you are one of the people whose viewed these presentations and found them valuable - PLEASE support our work by (1) signing our email list at http://tinyurl.com/SignUp-CivicLab, (2) consider renting a desk with us (we're in Chicago's West Loop), and (3) making a deducible contribution via our fiscal agent, the Investigative News Network - http://tinyurl.com/SupportTheLab-INN. We are online at http://www.tifreports.com. Contact me - tom@civiclab.us.
This powerpoint, authored by Allan Cain, Beat Weber and Moises Festo, was presented by Development Workshop's director Allan Cain at the Annual World Bank Conference on Land and Poverty which took place from April 8 to 11, 2013 in Washington DC.
Despite a rather challenging environment, land readjustment in Angola has the potential to become an important tool for urban planning. The presentation shows that, while there is still no legal framework for land readjustment and a very limited culture of participation in urban planning processes, growing land markets and strong private sector partners can make land readjustment a viable option for local governments.
Land Readjustment in Colombia - By Erik Vergel-Tovarerikvergel
Slum Upgrading Using Participatory and Inclusive Land Readjustment (PILaR): Defining The Rules Of The Game - Expert Group Meeting
Nairobi, 3rd and 4th of December, 2013
Presentation of OECD work on the governance of land use made at the launch of the sythesis report, by Tamara Krawchenko and Abel Schumann, Regional Development Policy Division, OECD.
Overview of TIF and Recent TIF Law ChangesVierbicher
This presentation provides a history of tax incremental financing in Wisconsin, tax incremental financing basics, recent law changes, best practices in using TIF for community development and Examples of Projects.
Participatory Inclusive Land Readjustment in Angola presented by Allan Cain, Development Workshop, to the Workshop on Sustainable Urban Land Use Planning. Seoul, Korea, May 30-June 2, 2016.
I upload all my TIF presentations to http://www.slideshare.net/tomtee. These presentations have been viewed over 44,000 times! The champ is the presentation on the 27th ward which has been viewed 4,292 times. So - if you are one of the people whose viewed these presentations and found them valuable - PLEASE support our work by (1) signing our email list at http://tinyurl.com/SignUp-CivicLab, (2) consider renting a desk with us (we're in Chicago's West Loop), and (3) making a deducible contribution via our fiscal agent, the Investigative News Network - http://tinyurl.com/SupportTheLab-INN. We are online at http://www.tifreports.com. Contact me - tom@civiclab.us.
I upload all my TIF presentations to http://www.slideshare.net/tomtee. These presentations have been viewed over 44,000 times! The champ is the presentation on the 27th ward which has been viewed 4,292 times. So - if you are one of the people whose viewed these presentations and found them valuable - PLEASE support our work by (1) signing our email list at http://tinyurl.com/SignUp-CivicLab, (2) consider renting a desk with us (we're in Chicago's West Loop), and (3) making a deducible contribution via our fiscal agent, the Investigative News Network - http://tinyurl.com/SupportTheLab-INN. We are online at http://www.tifreports.com. Contact me - tom@civiclab.us.
Using TIF to Promote Healthy CommunitiesVierbicher
This presentation provides a history of tax incremental financing in Wisconsin, trends in its use, recent changes and best practices in using TIF to promote development that can lead to healthier communities.
2017 Info Night Presentation - TIF bondF. X. Flinn
2017 info night presentation on a tax increment financing bond the town expects to put on the ballot for approval at the March 7, 2017 election. Education fund taxes on properties in the TIF district, to the extent they exceed those paid in 2012, are split 75-25 between the town and the state instead of going 100 percent to the state. The Hartford TIF district has a debt ceiling of 13 million; 1.8 million has been bonded to date. The new bond will add about 2 million and focuses on infrastructure improvements to the wastewater and storm water system in the core of White River Junction, along with monies to plan out in detail much of the remaining anticipated work.
Tax-Increment Financing - How to Effectively Use it in Your Community - GSMSu...GrowSmart Maine
Why plan for growth and change, when it seems so much easier to simply react?
When there is a distinct and shared vision for your community - when residents, businesses and local government anticipate a sustainable town with cohesive and thriving neighborhoods - you have the power to conserve your beautiful natural spaces, enhance your existing downtown or Main Street, enable rural areas to be productive and prosperous, and save money through efficient use of existing infrastructure.
This is the dollars and sense of smart growth.
Success is clearly visible in Maine, from the creation of a community-built senior housing complex and health center in Fort Fairfield to conservation easements creating Forever Farms to Rockland's revitalized downtown. Communities have options. We have the power to manage our own responses to growth and change.
After all, “Planning is a process of choosing among those many options. If we do not choose to plan, then we choose to have others plan for us.” - Richard I. Winwood
And in the end, this means that our children and their children will choose to make Maine home and our economy will provide the opportunities to do so.
The Summit offers you a wonderful opportunity to be a part of the transformative change in Maine that we’ve seen these gatherings produce. We encourage you to consider the value of being actively involved in growing Maine’s economy and protecting the reasons we choose to live here.
A report by the Citizen Advocacy Center.
Tax Increment Financing, or TIF, is a powerful municipal economic development tool created by the Illinois General Assembly in 1977. Although nearly every state in the nation adopted tax increment financing, each state’s legislation differs. The Illinois Tax Increment Allocation Redevelopment Act is the basis for all the information in this website.
The purpose of TIF is to spur and fund development in areas with declining or stagnant property values through providing incentives to developers. The revenues used to pay for the incentives come from property taxes that the municipality diverts for the duration of the TIF district, typically 23-30 years. The theory is that the TIF designated area will develop due to the assistance of incentives to developers, and the property valuation for the TIF designated area will substantially increase and benefit all taxing bodies in the future.
Final 12 01 community mtg phase ii presentationSCVTA
This is the presentation shared at VTA's BART Silicon Valley Phase II Dec 1, 2014 community meeting at the Mexican Heritage Plaza. One minor typo was corrected on slide 15 (2010 environmental clearance was for 10 miles, not 16 as stated in previous version).
This presentation provides a history of tax incremental financing in Wisconsin, trends in its use, recent changes and best practices in using TIF for community development.
Downtown & Infill Tax Increment Districts: Strategies for SuccessVierbicher
Tax Increment Financing (TIF) is the #1 local funding source for revitalization of downtowns and urban areas. Such areas face far different challenges than industrial parks or mixed-use neighborhoods when it comes to formulation and implementation of TIF plans. When used successfully in urban areas and downtowns, TIF can not only grow jobs and property tax base, but also serve as a tool for remediating environmental contamination, integrating green design into infrastructure and the built environment, reestablishing a community’s commercial core, improving bikeability, and retrofitting a suburban-style development pattern into walkable urban streets.
INVESTMENT OPPORTUNITIES - PPP FISCALIA GENERAL DE LA NACIÓN –CALIProColombia
Fiscalía General de la Nación and ProColombia in alliance with Bonus Banca de Inversión and Currie & Brown, would like to extend our thanks to everyone who participated in the PPP FISCALIA GENERAL DE LA NACIÓN webinar, project that aims to facilitate access to justice for the citizens.
SBA & City of Evanston Economic Injury Webinar - 4/1/2020cityofevanston
Stephen Konkle from the Small Business Administration (SBA) presents options for City of Evanston businesses in the wake of the COVID-19 disaster. Includes information on the Economic Injury Disaster Loans (EIDL).
This session provides a comprehensive overview of the latest updates to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly known as the Uniform Guidance) outlined in the 2 CFR 200.
With a focus on the 2024 revisions issued by the Office of Management and Budget (OMB), participants will gain insight into the key changes affecting federal grant recipients. The session will delve into critical regulatory updates, providing attendees with the knowledge and tools necessary to navigate and comply with the evolving landscape of federal grant management.
Learning Objectives:
- Understand the rationale behind the 2024 updates to the Uniform Guidance outlined in 2 CFR 200, and their implications for federal grant recipients.
- Identify the key changes and revisions introduced by the Office of Management and Budget (OMB) in the 2024 edition of 2 CFR 200.
- Gain proficiency in applying the updated regulations to ensure compliance with federal grant requirements and avoid potential audit findings.
- Develop strategies for effectively implementing the new guidelines within the grant management processes of their respective organizations, fostering efficiency and accountability in federal grant administration.
Russian anarchist and anti-war movement in the third year of full-scale warAntti Rautiainen
Anarchist group ANA Regensburg hosted my online-presentation on 16th of May 2024, in which I discussed tactics of anti-war activism in Russia, and reasons why the anti-war movement has not been able to make an impact to change the course of events yet. Cases of anarchists repressed for anti-war activities are presented, as well as strategies of support for political prisoners, and modest successes in supporting their struggles.
Thumbnail picture is by MediaZona, you may read their report on anti-war arson attacks in Russia here: https://en.zona.media/article/2022/10/13/burn-map
Links:
Autonomous Action
http://Avtonom.org
Anarchist Black Cross Moscow
http://Avtonom.org/abc
Solidarity Zone
https://t.me/solidarity_zone
Memorial
https://memopzk.org/, https://t.me/pzk_memorial
OVD-Info
https://en.ovdinfo.org/antiwar-ovd-info-guide
RosUznik
https://rosuznik.org/
Uznik Online
http://uznikonline.tilda.ws/
Russian Reader
https://therussianreader.com/
ABC Irkutsk
https://abc38.noblogs.org/
Send mail to prisoners from abroad:
http://Prisonmail.online
YouTube: https://youtu.be/c5nSOdU48O8
Spotify: https://podcasters.spotify.com/pod/show/libertarianlifecoach/episodes/Russian-anarchist-and-anti-war-movement-in-the-third-year-of-full-scale-war-e2k8ai4
Understanding the Challenges of Street ChildrenSERUDS INDIA
By raising awareness, providing support, advocating for change, and offering assistance to children in need, individuals can play a crucial role in improving the lives of street children and helping them realize their full potential
Donate Us
https://serudsindia.org/how-individuals-can-support-street-children-in-india/
#donatefororphan, #donateforhomelesschildren, #childeducation, #ngochildeducation, #donateforeducation, #donationforchildeducation, #sponsorforpoorchild, #sponsororphanage #sponsororphanchild, #donation, #education, #charity, #educationforchild, #seruds, #kurnool, #joyhome
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
What is the point of small housing associations.pptxPaul Smith
Given the small scale of housing associations and their relative high cost per home what is the point of them and how do we justify their continued existance
Canadian Immigration Tracker March 2024 - Key SlidesAndrew Griffith
Highlights
Permanent Residents decrease along with percentage of TR2PR decline to 52 percent of all Permanent Residents.
March asylum claim data not issued as of May 27 (unusually late). Irregular arrivals remain very small.
Study permit applications experiencing sharp decrease as a result of announced caps over 50 percent compared to February.
Citizenship numbers remain stable.
Slide 3 has the overall numbers and change.
Up the Ratios Bylaws - a Comprehensive Process of Our Organizationuptheratios
Up the Ratios is a non-profit organization dedicated to bridging the gap in STEM education for underprivileged students by providing free, high-quality learning opportunities in robotics and other STEM fields. Our mission is to empower the next generation of innovators, thinkers, and problem-solvers by offering a range of educational programs that foster curiosity, creativity, and critical thinking.
At Up the Ratios, we believe that every student, regardless of their socio-economic background, should have access to the tools and knowledge needed to succeed in today's technology-driven world. To achieve this, we host a variety of free classes, workshops, summer camps, and live lectures tailored to students from underserved communities. Our programs are designed to be engaging and hands-on, allowing students to explore the exciting world of robotics and STEM through practical, real-world applications.
Our free classes cover fundamental concepts in robotics, coding, and engineering, providing students with a strong foundation in these critical areas. Through our interactive workshops, students can dive deeper into specific topics, working on projects that challenge them to apply what they've learned and think creatively. Our summer camps offer an immersive experience where students can collaborate on larger projects, develop their teamwork skills, and gain confidence in their abilities.
In addition to our local programs, Up the Ratios is committed to making a global impact. We take donations of new and gently used robotics parts, which we then distribute to students and educational institutions in other countries. These donations help ensure that young learners worldwide have the resources they need to explore and excel in STEM fields. By supporting education in this way, we aim to nurture a global community of future leaders and innovators.
Our live lectures feature guest speakers from various STEM disciplines, including engineers, scientists, and industry professionals who share their knowledge and experiences with our students. These lectures provide valuable insights into potential career paths and inspire students to pursue their passions in STEM.
Up the Ratios relies on the generosity of donors and volunteers to continue our work. Contributions of time, expertise, and financial support are crucial to sustaining our programs and expanding our reach. Whether you're an individual passionate about education, a professional in the STEM field, or a company looking to give back to the community, there are many ways to get involved and make a difference.
We are proud of the positive impact we've had on the lives of countless students, many of whom have gone on to pursue higher education and careers in STEM. By providing these young minds with the tools and opportunities they need to succeed, we are not only changing their futures but also contributing to the advancement of technology and innovation on a broader scale.
A process server is a authorized person for delivering legal documents, such as summons, complaints, subpoenas, and other court papers, to peoples involved in legal proceedings.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
2. TIF is a hyperlocal economic development tool -
the value created is recycled directly back into the district
2
TIF will give City and the property owner the ability to:
1. Attract strong quality retailers;
2. Minor property renovations / build out; and
3. Provide improvements to the public infrastructure and right of way
3. Improving Economic Climate and Change of Ownership
3
The center has suffered in recent years from deferred maintenance and high
vacancies resulting from a number of factors:
•economic downturn,
•the previous owner’s bankruptcy and the long receivership
•general restructuring of national retailers including consolidations, format
downsizing, bankruptcies.
•Local competitive pressures from Downtown Evanston, Old Orchard, Lincolnwood
Town Center, Howard Hartrey, and Main Street Commons
6. “Stand Alone” TIF District –
Addresses the Current Market Reality
Allows for focused revitalization efforts
6
•Not included in West Evanston TIF – designated (2005) / amended (2007) because
the assessed valuation of the property was too high;
•Current value “base” is at a level where redevelopment can be expected to
generate tax increment;
•Keeping TIF separate allows for targeted redevelopment / revitalization at
Evanston Plaza
•“Protects” increment in West Evanston TIF for designated projects within that TIF –
very distinct needs.
7. Short Term Goal –
Limited Upgrades/Space Reconfiguration/Attract Quality Tenants
(Requires Minimal TIF Investment)
7
1. Help reposition Evanston Plaza - improve occupancy levels, with “step above”
quality tenants
2. Neighborhood Commercial Redevelopment and Revitalization
3. Increased tax revenues from the property (both sales and property taxes).
8. Longer Term –Prepare for the Unknown
Retail World Changes Rapidly
(potentially greater TIF Investment required)
8
Allow increment to accumulate in preparation for the next major change in retail.
Longer term use of TIF could be used for:
1. Site preparation
2. Rehabilitation of structures
3. Job training
4. Construction of public improvements
9. TIF assistance is at discretion of City Council
9
Upon TIF designation:
1. Negotiate redevelopment agreement with developer that will yield the highest
number of quality tenants with limited expenditures on physical improvements
2. Determine level of public infrastructure improvements in public spaces / right
of way.
3. Proposed budget is based on projected increment collected over 23 year life of
TIF district and is intended as framework for potential funding.
4. If the city and property owner decide to move forward with a redevelopment
agreement to use a portion of the TIF budget, it will go through the public
process and requires city council approval
10. Proposed Dempster/Dodge TIF Staff Contact Information
Available to discuss tenant ideas, answer questions, etc.
10
Paul Zalmezak
City of Evanston
Economic Development Division
847.448.8013
pzalmezak@cityofevanston.org
11. 11
Overview
I. Background on Proposed TIF District /
Plan for Dempster/Dodge Corridor
II. Factors Qualifying Area as a TIF
District
III. Key Elements of TIF Plan
12. 12
• The Dempster/Dodge TIF Area
– Tightly “focused” TIF
– One project/one developer/one tax parcel
• Strategic Importance
– Important space for western Evanston
• Ongoing viability of major user (Dominick’s) important for
western Evanston residents
– Dempster major arterial road
– Based on location and traffic counts, has potential for success
• Has faced chronic vacancies past decade
– Despite location and strategic importance
I. Background
13. 13
The TIF Plan complies with key legal provisions of
the TIF Act, including but not limited to:
– TIF Plan conforms to the City’s Comprehensive Plan
– Area consists of contiguous parcels – exceeds 1 ½
acres
– “But-for” requirement is met - Redevelopment is
feasible only with the utilization of tax increment
financing
• As documented in the TIF Qualification Report (Appendix V
of the TIF Plan)
• As represented by the developer
I. Background
15. 15
• City has considered alternative economic
development tools, with only limited success
• The City has considered, in succession:
– Financial tools other than TIF (sales tax sharing)
– Ongoing monitoring of owner proposals and/or new
tenant potentials
– Now considering TIF
I. Background
16. 16
I. Background
Review of TIF Financing
TIF involves splitting property tax revenue generated from
properties within the TIF District into two components or “buckets”:
Bucket for Base Revenues – For All
Local Governments
Bucket for Incremental Revenues – For
Redevelopment within TIF
17. 17
I. Background
Review of TIF Financing
- Ideally, a successful TIF produces positive incremental revenue over time
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
1 2 3 4 5 6 7 8 9 10
Year
AssessedValue(AV)
Year Base AV Total AV
18. 18
I. Background
Review of TIF Financing
- In practice, a successful TIF faces certain challenges in seeking to generate positive increment
TIF Performance Adjusted for Project-Related Risks
0
20
40
60
80
100
120
140
160
180
200
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Base EAV Total EAV - Adjusted for Market Factors
Delay in
Project
Absorption
Reduction in
Growth
ASSESSEDVALUE
YEAR
19. 19
• The proposed TIF District is found to qualify
under the following criteria:
– Improved property - As a “blighted-improved area”,
based upon the findings that:
• A combination of 5 or more of the 13 factors set forth in the
TIF Act are present in the area
II. Qualification Factors
20. 20
Improved Property – Conservation Area Findings Underlined
II. Qualification Factors
1) Dilapidation
2) Obsolescence
3) Deterioration
4) Presence of
Structures Below
Code
5) Illegal Uses
6) Excessive Vacancies
7) Lack of Ventilation and
Sanitary Facilities
8) Inadequate Utilities
9) Excessive Land
Coverage
10) Deleterious Layout
11) Environmental Clean-
up
12) Lack of Community
Planning
13) Lagging EAV
21. 21
Obsolescence
II. Qualification Factors
The area is economically and
functionally obsolete
– Economically, obsolescence is
manifested by the EAV stagnation +
declining market values + vacant
storefronts
When one part of the City stagnates, such as
this area, this shifts the tax burden onto other
parts of City
22. 22
Excessive Vacancies
II. Qualification Factors
• The area has had numerous vacancies
– Situation has deteriorated in past 3 years
• Larger-scale vacancies occurring as well
– 52% vacancy as of January 2012
– Vacancy levels well in excess of
normal “churn”
28. 28
Deleterious Layout
II. Qualification Factors
• Per the TIF Act, deleterious layout
evidenced by inadequate
ingress/egress, limited buffering vs
residential areas, and other indicators
29. 29
Environmental Clean-up
II. Qualification Factors
• Per the TIF Act, there are a certain
environmental problems that have required
remediation/clean-up expenditures
• Previously a contaminated area was:
– Remediated with an “engineered barrier” put in place
– Barrier limits re-use of portions of the site
30. 30
Inadequate Utilities
II. Qualification Factors
• Utilities are over 100 years old and use
obsolete materials
• E.g., combined sewers use outmoded
materials prone to breakage/outage such as
cast iron (modern materials include PVC
and ductile iron)
31. 31
Lagging EAV
II. Qualification Factors
• Equalized Assessed Valuation (EAV) of
the proposed TIF District has lagged
behind the balance of the City’s EAV
– Four of the last five years
• TIF Act requires a minimum finding for
three of the last five years
33. 33
• Base EAV: $10,816,879 (2010 EAV)
• Projected EAV: Upon completion of redevelopment
and “re-tenanting,” approximately $30,000,000 to
$35,000,000
• Proposed TIF Budget: $20,000,000 (see next slide)
– The TIF Budget is:
• A maximum amount which does not obligate the City to
expend such amounts
• Sized to accommodate potential development requirements
• 23 year budget, not annual budget
• Proposed Land Uses: Retail, commercial,
institutional, and residential uses
• Key “but for” finding – redevelopment will not go
forward without the TIF assistance
III. Key Elements of TIF Plan
34. 34
Program Actions/Improvements Estimated Costs
Land Acquisition, Assembly, and Relocation $500,000
Site Preparation, Including Environmental Remediation, Demolition, and Site Grading $4,000,000
Utility Improvements (Including Water, Storm, Sanitary Sewer, Service of Public Facilities,
and Road Improvements)
$3,000,000
Rehabilitation of Existing Structures; Taxing District Capital Improvements $4,750,000
Public Facilities (including Parking Facilities and Streetscaping) $4,000,000
Interest Costs Pursuant to the Act $1,250,000
Professional Service Costs (Including Planning, Legal, Engineering, Administrative, Annual
Reporting, and Marketing)
$1,250,000
Job Training $1,000,000
Statutory School and Library District Payments $250,000
TOTAL ESTIMATED TIF BUDGET $20,000,000
35. 35
• Budget Guidelines
– Overall budget cannot be exceeded
– Line-items in budget are flexible
– Covers 23 years; hence difficult to estimate with
precision
– Budget expenditures subject to:
• City approvals
• Determination of appropriateness of costs
• Special TIF audit
• Review by JRB annually
III. Key Elements of TIF Plan
36. 36
Next Steps
• Clerk will continue to receive written
comments on the TIF Plan
• TIF ordinances may be introduced 14 to
90 days after the Public Hearing
– Subject to additional review/approval by City
Council
– Two open meetings with opportunity for
additional public comment