Tax Increment Financing and Economic Development, Second Edition : Uses, Structures, and Impact.
Johnson, Craig L.
Tax Increment Financing and Economic Development, Second Edition : Uses, Structures, and Impact. - 1st ed. - 1 online resource (368 pages)
Intro -- Contents -- Figures and Tables -- Acknowledgments -- Part I: Background -- Chapter 1 Introduction -- Introduction -- References -- Chapter 2 A Primer on Tax Increment Financing -- Introduction -- The Basic TIF Financing Structure -- TIF Development Planning and Management4 -- Initiate Process -- Formulate Plan -- Legally Adopting the TIF -- Implementation and Management -- Evaluation and Termination -- Notes -- References -- Chapter 3 A Review of State Tax Increment Financing Laws -- Introduction -- Characterizing TIF Laws -- Process Framework and Analysis -- Overall Statistics -- Plan Initiation -- Plan Formulation -- Plan Adoption -- Plan Implementation -- Evaluation and Termination -- Conclusion: The Legal Environment of TIF -- Notes -- References -- Chapter 4 The Use of Debt in Tax Increment Financing -- Introduction -- Aggregate TIF Debt Finance Characteristics -- Annual Issuance Volume -- Bond Type -- Issue Purpose -- Use of Financial Intermediaries -- Method of Sale -- Bond Structure -- TIF Debt Risks -- Risks to Taxpayers -- Debt Issuance Risk -- Risks to Overlapping Taxing Districts -- The Moral Obligation -- Risks to Bondholders -- The Passive Nature of TIF Revenue -- Project-Related Risks -- Intergovernmental Fiscal Relations -- Conclusion -- Notes -- References -- Part II: Implementation, Uses, and Structure -- Chapter 5 The Port Covington TIF: Did Baltimore "Protect This House"? -- Introduction -- Baltimore City's Economic Development History and Budget Strategies -- Analyses of the Project's Financial Details and Approval by the Executive -- City Council Review and the Community Benefit Agreement -- How the TIF Could Affect the City's Education Grant from the State -- Evaluation -- Notes -- Chapter 6 TIF for Major Project Development: The Case of the Stapleton Airport Redevelopment -- Introduction -- Background. The Stapleton Redevelopment Area and Use of TIF -- Stapleton's Brief Historical Timeline -- Complex Financing and Functional Relationships -- Use of Tax Increment Financing -- TIF Authority and Timeline -- TIF Arrangements and Creative Finance -- Shares between Construction and Ongoing Services -- Use of Best Source of Financing -- Lessons from Stapleton's TIF -- Notes -- References -- Chapter 7 An Incentive Program Grows Up: The Evolution of TIF in Chicago -- Introduction -- TIF in Chicago -- Changing Political and Fiscal Circumstances in Chicago -- The Daley Boom Years -- Transition to Emanuel -- Changes in Chicago's TIF Program -- Illustrative Cases -- Citywide Transit TIF Districts -- Participatory Budgeting in West Humboldt Park -- Lessons Learned and Conclusions -- Notes -- References -- Chapter 8 TIF in California: Birth, Growth, Death, and Resurrection -- Introduction -- History -- Fiscal Stress in California -- Natural Disasters -- Exogenous Influences -- Voter Initiatives -- State and Local Tax Structures -- Examples of Fiscal Stress -- Natural Disaster: The Loma-Prieta Earthquake -- Voter Initiative Examples -- Interjurisdictional Relationship -- State Reforms -- The State Budget Crises, the Fall of RDAs, and the Rise of EIFDs -- Conclusions -- Notes -- References -- Chapter 9 The (D)Evolution of TIF Use: Redevelopment to Land Development in Nebraska -- Introduction -- Legal Vagueness and TIF Expansion -- Case Study: "Project No. 1: Costco Poultry Complex" in Fremont, Nebraska -- Methodology -- Case Study -- TIF Process -- Fremont's Use of TIF for the Project No. 1: Focus on Plan Formulation -- Finding of Blight and the Designation of TIF District -- "But For" Test -- Cost-Benefit Analysis -- Other Issues -- Discussion and Conclusion -- References -- Chapter 10 Using TIF for Brownfields Redevelopment -- Why TIF for Brownfields?. Brownfield Site Characteristics and TIF -- General Characteristics-Cleanup Costs and Years Vacant -- Distressed Areas -- Re-use -- The Role of TIF in Comparison to Other Incentives -- Transformational Brownfields-TIF Projects -- Baltimore-Harbor Point -- Milwaukee-Menomonee Valley -- Innovations and State Program Modifications Designed to Make the TIF-Brownfields Connection -- Pay-As-You-Go -- Eligible Expenditures -- Plan and District Creation Requirements -- Pooling-Cross-Fertilization of TIF Districts -- Adjusting the TIF Base for Cleanup Costs -- Redevelopment Authorities Using TIF for Brownfields Projects -- Liability Protections -- Site Entry -- Model 1: Michigan's Brownfields Redevelopment Authorities -- Model 2: St. Paul Port Authority -- Model 3: Brownfields Land Banks -- TIF Futures: Curb It, Expand It, or Focus It? -- Notes -- Chapter 11 State Super TIF Programs: New Tools for Transformative Urban Redevelopment -- Background -- Summaries of State Super TIF Programs -- Kentucky-Signature Projects -- Bowling Green -- Missouri-Supplemental Tax Increment Financing Program -- Missouri's State Supplemental Tax Increment Financing Program -- Missouri Downtown Economic Stimulus Act (MODESA) -- Kansas City-Cerner Corporation/Three Trails Project -- Pennsylvania-City Revitalization and Improvement Zones (CRIZ) -- Allentown City Center -- Massachusetts-Infrastructure Investment Incentive Program (I-Cube) -- Boston Landing -- New Jersey-Economic Redevelopment and Growth Grant -- Controversial and Failed Projects -- Trenton/Wire Rope District -- Mississippi-Brownfields Tax Incentive -- Michigan-Transformational Brownfields Plans -- Kansas-STAR TIF -- Nevada-Tourism Improvement Districts and STAR TIFs -- Issues and Best Practices -- State Super TIF and the Balance of State-Local TIF Commitments -- Summing It Up -- Notes. Part III: Economic, Social, and Fiscal Impact -- Chapter 12 The Theory and Economic Impact of Tax Increment Financing -- Introduction -- Literature Review -- Elements of a Theoretical Model for TIF Adoption -- TIF Impact -- The Effect of TIF on Property Values -- The Effect of TIF on Economic Outcomes -- Conclusion -- References -- Chapter 13 Tax Increment Financing and Spatial Spillovers -- Introduction -- Literature Review -- Methodology -- Data -- Outcome Variable -- Treatment Variable -- Control Variables -- Results -- Conclusion -- References -- Chapter 14 The Conceptual Pliability of TIF and the Political Rhetoric of Environmental Remediation: Groundwater Pollution and Tax "Decrement" Financing in Wichita -- Introduction -- Wichita's Groundwater Pollution Crisis -- Crafting a Local Solution -- The Creation of a New TIF Statute -- Implementing the Gilbert-Mosley "Decrement" Plan -- Litigation, Settlements, and the Rising Reliance on Tax Revenue in Gilbert-Mosley -- Operating Gilbert-Mosley: Original Aspirations, Current Budgets, and Anticipated Revenues -- Conclusion -- Notes -- References -- Chapter 15 TIF and Education Funding: Issues and Impact -- Introduction -- Literature Review -- Conceptual Framework -- TIF without Increments -- TIF with Increments -- TIF with Returned Excess Increments -- TIF with Spillover Effects -- TIF with Effects on State Aid -- Other Issues with Potential Implications for Education Funding -- Determination of Increments -- TIF Areas Spanning Multiple School Districts -- Other Protections -- Discussion -- Notes -- References -- Chapter 16 TIF Legislation in Indiana: Agile and Adaptive -- Introduction -- The Evolution and Use of TIF in Indiana -- The Evolution of TIF Legislation in Indiana -- Concluding Remarks -- Notes -- Chapter 17 Conclusion -- References -- Contributors -- Author Index -- Subject Index.
Examines the many issues raised by TIF, the most widely used tool of local economic and community development.
9781438474991
Tax increment financing-United States.
Urban renewal-United States-Finance.
Electronic books.
HT175 .T39 2019
Tax Increment Financing and Economic Development, Second Edition : Uses, Structures, and Impact. - 1st ed. - 1 online resource (368 pages)
Intro -- Contents -- Figures and Tables -- Acknowledgments -- Part I: Background -- Chapter 1 Introduction -- Introduction -- References -- Chapter 2 A Primer on Tax Increment Financing -- Introduction -- The Basic TIF Financing Structure -- TIF Development Planning and Management4 -- Initiate Process -- Formulate Plan -- Legally Adopting the TIF -- Implementation and Management -- Evaluation and Termination -- Notes -- References -- Chapter 3 A Review of State Tax Increment Financing Laws -- Introduction -- Characterizing TIF Laws -- Process Framework and Analysis -- Overall Statistics -- Plan Initiation -- Plan Formulation -- Plan Adoption -- Plan Implementation -- Evaluation and Termination -- Conclusion: The Legal Environment of TIF -- Notes -- References -- Chapter 4 The Use of Debt in Tax Increment Financing -- Introduction -- Aggregate TIF Debt Finance Characteristics -- Annual Issuance Volume -- Bond Type -- Issue Purpose -- Use of Financial Intermediaries -- Method of Sale -- Bond Structure -- TIF Debt Risks -- Risks to Taxpayers -- Debt Issuance Risk -- Risks to Overlapping Taxing Districts -- The Moral Obligation -- Risks to Bondholders -- The Passive Nature of TIF Revenue -- Project-Related Risks -- Intergovernmental Fiscal Relations -- Conclusion -- Notes -- References -- Part II: Implementation, Uses, and Structure -- Chapter 5 The Port Covington TIF: Did Baltimore "Protect This House"? -- Introduction -- Baltimore City's Economic Development History and Budget Strategies -- Analyses of the Project's Financial Details and Approval by the Executive -- City Council Review and the Community Benefit Agreement -- How the TIF Could Affect the City's Education Grant from the State -- Evaluation -- Notes -- Chapter 6 TIF for Major Project Development: The Case of the Stapleton Airport Redevelopment -- Introduction -- Background. The Stapleton Redevelopment Area and Use of TIF -- Stapleton's Brief Historical Timeline -- Complex Financing and Functional Relationships -- Use of Tax Increment Financing -- TIF Authority and Timeline -- TIF Arrangements and Creative Finance -- Shares between Construction and Ongoing Services -- Use of Best Source of Financing -- Lessons from Stapleton's TIF -- Notes -- References -- Chapter 7 An Incentive Program Grows Up: The Evolution of TIF in Chicago -- Introduction -- TIF in Chicago -- Changing Political and Fiscal Circumstances in Chicago -- The Daley Boom Years -- Transition to Emanuel -- Changes in Chicago's TIF Program -- Illustrative Cases -- Citywide Transit TIF Districts -- Participatory Budgeting in West Humboldt Park -- Lessons Learned and Conclusions -- Notes -- References -- Chapter 8 TIF in California: Birth, Growth, Death, and Resurrection -- Introduction -- History -- Fiscal Stress in California -- Natural Disasters -- Exogenous Influences -- Voter Initiatives -- State and Local Tax Structures -- Examples of Fiscal Stress -- Natural Disaster: The Loma-Prieta Earthquake -- Voter Initiative Examples -- Interjurisdictional Relationship -- State Reforms -- The State Budget Crises, the Fall of RDAs, and the Rise of EIFDs -- Conclusions -- Notes -- References -- Chapter 9 The (D)Evolution of TIF Use: Redevelopment to Land Development in Nebraska -- Introduction -- Legal Vagueness and TIF Expansion -- Case Study: "Project No. 1: Costco Poultry Complex" in Fremont, Nebraska -- Methodology -- Case Study -- TIF Process -- Fremont's Use of TIF for the Project No. 1: Focus on Plan Formulation -- Finding of Blight and the Designation of TIF District -- "But For" Test -- Cost-Benefit Analysis -- Other Issues -- Discussion and Conclusion -- References -- Chapter 10 Using TIF for Brownfields Redevelopment -- Why TIF for Brownfields?. Brownfield Site Characteristics and TIF -- General Characteristics-Cleanup Costs and Years Vacant -- Distressed Areas -- Re-use -- The Role of TIF in Comparison to Other Incentives -- Transformational Brownfields-TIF Projects -- Baltimore-Harbor Point -- Milwaukee-Menomonee Valley -- Innovations and State Program Modifications Designed to Make the TIF-Brownfields Connection -- Pay-As-You-Go -- Eligible Expenditures -- Plan and District Creation Requirements -- Pooling-Cross-Fertilization of TIF Districts -- Adjusting the TIF Base for Cleanup Costs -- Redevelopment Authorities Using TIF for Brownfields Projects -- Liability Protections -- Site Entry -- Model 1: Michigan's Brownfields Redevelopment Authorities -- Model 2: St. Paul Port Authority -- Model 3: Brownfields Land Banks -- TIF Futures: Curb It, Expand It, or Focus It? -- Notes -- Chapter 11 State Super TIF Programs: New Tools for Transformative Urban Redevelopment -- Background -- Summaries of State Super TIF Programs -- Kentucky-Signature Projects -- Bowling Green -- Missouri-Supplemental Tax Increment Financing Program -- Missouri's State Supplemental Tax Increment Financing Program -- Missouri Downtown Economic Stimulus Act (MODESA) -- Kansas City-Cerner Corporation/Three Trails Project -- Pennsylvania-City Revitalization and Improvement Zones (CRIZ) -- Allentown City Center -- Massachusetts-Infrastructure Investment Incentive Program (I-Cube) -- Boston Landing -- New Jersey-Economic Redevelopment and Growth Grant -- Controversial and Failed Projects -- Trenton/Wire Rope District -- Mississippi-Brownfields Tax Incentive -- Michigan-Transformational Brownfields Plans -- Kansas-STAR TIF -- Nevada-Tourism Improvement Districts and STAR TIFs -- Issues and Best Practices -- State Super TIF and the Balance of State-Local TIF Commitments -- Summing It Up -- Notes. Part III: Economic, Social, and Fiscal Impact -- Chapter 12 The Theory and Economic Impact of Tax Increment Financing -- Introduction -- Literature Review -- Elements of a Theoretical Model for TIF Adoption -- TIF Impact -- The Effect of TIF on Property Values -- The Effect of TIF on Economic Outcomes -- Conclusion -- References -- Chapter 13 Tax Increment Financing and Spatial Spillovers -- Introduction -- Literature Review -- Methodology -- Data -- Outcome Variable -- Treatment Variable -- Control Variables -- Results -- Conclusion -- References -- Chapter 14 The Conceptual Pliability of TIF and the Political Rhetoric of Environmental Remediation: Groundwater Pollution and Tax "Decrement" Financing in Wichita -- Introduction -- Wichita's Groundwater Pollution Crisis -- Crafting a Local Solution -- The Creation of a New TIF Statute -- Implementing the Gilbert-Mosley "Decrement" Plan -- Litigation, Settlements, and the Rising Reliance on Tax Revenue in Gilbert-Mosley -- Operating Gilbert-Mosley: Original Aspirations, Current Budgets, and Anticipated Revenues -- Conclusion -- Notes -- References -- Chapter 15 TIF and Education Funding: Issues and Impact -- Introduction -- Literature Review -- Conceptual Framework -- TIF without Increments -- TIF with Increments -- TIF with Returned Excess Increments -- TIF with Spillover Effects -- TIF with Effects on State Aid -- Other Issues with Potential Implications for Education Funding -- Determination of Increments -- TIF Areas Spanning Multiple School Districts -- Other Protections -- Discussion -- Notes -- References -- Chapter 16 TIF Legislation in Indiana: Agile and Adaptive -- Introduction -- The Evolution and Use of TIF in Indiana -- The Evolution of TIF Legislation in Indiana -- Concluding Remarks -- Notes -- Chapter 17 Conclusion -- References -- Contributors -- Author Index -- Subject Index.
Examines the many issues raised by TIF, the most widely used tool of local economic and community development.
9781438474991
Tax increment financing-United States.
Urban renewal-United States-Finance.
Electronic books.
HT175 .T39 2019