halis123456789
New Member
Cash: $ 1.95
Posts: 9
Joined: 30 Jan 2007
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Can anyone point me to resources on Transportation Development Districts or Tax Increment Financing?
I am interested in how much a project can carry based on revenue and the time frame on the bonds.
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Fri Mar 09, 2007 4:50 pm |
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halis123456789
New Member
Cash: $ 1.95
Posts: 9
Joined: 30 Jan 2007
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don't everybody jump up at once..i guess i found some stuff.
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Mon Mar 12, 2007 1:39 pm |
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master01
New Member
Cash: $ 0.60
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Joined: 27 Jul 2007
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Tax Increment Financing is a development tool designed to help finance certain eligible improvements to property in designated redevelopment areas (TIF districts) by utilizing the new, or incremental, tax revenues generated by the project after completion. Under TIF, property taxes within the TIF District are frozen for up to 23 years, the property owners then make Payments In Lieu of Taxes (PILOTS) to a "special allocation fund". Additionally, 50% of any new local Economic Activity Taxes (EATS), i.e. local sales taxes, earnings taxes, utility taxes, generated from the project are also paid to the fund while the District is in effect. The proceeds of the fund are then used to reimburse the developer for eligible project costs or to retire indebtedness incurred to cover those costs. Eligible project costs are the total of all reasonable or necessary costs incurred, or estimated to be incurred and any costs incidental to a redevelopment plan or project.
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Fri Jul 27, 2007 10:01 am |
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