Download or read book Improving Tax Increment Financing TIF for Economic Development written by David Merriman and published by . This book was released on 2018-09-05 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economist David Merriman of the University of Illinois at Chicago reviews more than 30 individual studies in the most comprehensive assessment of tax increment financing (TIF) with practical recommendations for policy makers and practitioners. The report finds that while TIF has the potential to draw investment into neglected places, it has not accomplished the goal of promoting economic development in most cases. First implemented in the 1950s, TIF funds economic development within a defined district by earmarking increases in future property tax revenues that result from increases in real estate values in the district. The tax revenue can be used for public infrastructure or to compensate private developers for their investments, but TIF is prone to several pitfalls: it often captures some revenues that would have been generated through normal appreciation in property values, it can be exploited by cities to obtain revenues that would otherwise go to overlying government entities such as school districts, and it can make cities' financial decisions less transparent by separating them from the normal budget process. The report recommends several ways that state and local policy makers can reform TIF practices going forward.

Download or read book Strong Towns written by Charles L. Marohn, Jr. and published by John Wiley & Sons. This book was released on 2019-10-01 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new way forward for sustainable quality of life in cities of all sizes Strong Towns: A Bottom-Up Revolution to Build American Prosperity is a book of forward-thinking ideas that breaks with modern wisdom to present a new vision of urban development in the United States. Presenting the foundational ideas of the Strong Towns movement he co-founded, Charles Marohn explains why cities of all sizes continue to struggle to meet their basic needs, and reveals the new paradigm that can solve this longstanding problem. Inside, you’ll learn why inducing growth and development has been the conventional response to urban financial struggles—and why it just doesn’t work. New development and high-risk investing don’t generate enough wealth to support itself, and cities continue to struggle. Read this book to find out how cities large and small can focus on bottom-up investments to minimize risk and maximize their ability to strengthen the community financially and improve citizens’ quality of life. Develop in-depth knowledge of the underlying logic behind the “traditional” search for never-ending urban growth Learn practical solutions for ameliorating financial struggles through low-risk investment and a grassroots focus Gain insights and tools that can stop the vicious cycle of budget shortfalls and unexpected downturns Become a part of the Strong Towns revolution by shifting the focus away from top-down growth toward rebuilding American prosperity Strong Towns acknowledges that there is a problem with the American approach to growth and shows community leaders a new way forward. The Strong Towns response is a revolution in how we assemble the places we live.

Download or read book Tax Increment Financing and Economic Development Second Edition written by Craig L. Johnson and published by SUNY Press. This book was released on 2019-07-10 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the many issues raised by TIF, the most widely used tool of local economic and community development. This book brings together leading experts to examine the evolving nature of tax increment financing (TIF), the most widely used tool of local economic and community development. Originally designed as an innovative approach to the redevelopment of blighted areas, it has become a more general-purpose tool of economic and community development. Contributors offer case studies of the uses, structures, and impacts of TIF projects alongside more general discussions on the theoretical, financial, and legal bases for the use of TIF. They also explore its effect on overlapping jurisdictions such as cities, counties, and school districts. Some of the case studies capture TIF at its best—redeveloping areas that would likely never develop without substantial incentives. Other cases highlight questionable uses, especially where it has been used in new ways that those who developed the tool never envisioned. Originally published in 2001, the book was called “…a major contribution to the debate on the efficacy of such economic development financing tools as TIF…” by the journal Public Budgeting & Finance. Clear, comprehensive, and timely, this new edition features the latest research and thinking on TIF, including the political, legal, and even ethical issues surrounding its use.

Download or read book Rethinking Property Tax Incentives for Business written by Daphne A. Kenyon and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The use of property tax incentives for business by local governments throughout the United States has escalated over the last 50 years. While there is little evidence that these tax incentives are an effective instrument to promote economic development, they cost state and local governments $5 to $10 billion each year in forgone revenue. Three major obstacles can impede the success of property tax incentives as an economic development tool. First, incentives are unlikely to have a significant impact on a firm's profitability since property taxes are a small part of the total costs for most businesses--averaging much less than 1 percent of total costs for the U.S. manufacturing sector. Second, tax breaks are sometimes given to businesses that would have chosen the same location even without the incentives. When this happens, property tax incentives merely deplete the tax base without promoting economic development. Third, widespread use of incentives within a metropolitan area reduces their effectiveness, because when firms can obtain similar tax breaks in most jurisdictions, incentives are less likely to affect business location decisions. This report reviews five types of property tax incentives and examines their characteristics, costs, and effectiveness: property tax abatement programs; tax increment finance; enterprise zones; firm-specific property tax incentives; and property tax exemptions in connection with issuance of industrial development bonds. Alternatives to tax incentives should be considered by policy makers, such as customized job training, labor market intermediaries, and business support services. State and local governments also can pursue a policy of broad-based taxes with low tax rates or adopt split-rate property taxation with lower taxes on buildings than land.State policy makers are in a good position to increase the effectiveness of property tax incentives since they control how local governments use them. For example, states can restrict the use of incentives to certain geographic areas or certain types of facilities; publish information on the use of property tax incentives; conduct studies on their effectiveness; and reduce destructive local tax competition by not reimbursing local governments for revenue they forgo when they award property tax incentives.Local government officials can make wiser use of property tax incentives for business and avoid such incentives when their costs exceed their benefits. Localities should set clear criteria for the types of projects eligible for incentives; limit tax breaks to mobile facilities that export goods or services out of the region; involve tax administrators and other stakeholders in decisions to grant incentives; cooperate on economic development with other jurisdictions in the area; and be clear from the outset that not all businesses that ask for an incentive will receive one.Despite a generally poor record in promoting economic development, property tax incentives continue to be used. The goal is laudable: attracting new businesses to a jurisdiction can increase income or employment, expand the tax base, and revitalize distressed urban areas. In a best case scenario, attracting a large facility can increase worker productivity and draw related firms to the area, creating a positive feedback loop. This report offers recommendations to improve the odds of achieving these economic development goals.

Download or read book Municipal Revenues and Land Policies written by Gregory K. Ingram and published by Lincoln Inst of Land Policy. This book was released on 2010 with total page 535 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Proceedings of the 2009 Land Policy Conference."--Cover.

Download or read book The Role of Local Government in Economic Development written by Jonathan Q. Morgan and published by Unc School of Government. This book was released on 2009 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report discusses the findings from a mail survey of local government economic development activities that was sent to all 540 municipalities and 100 counties in North Carolina. An important part of the analysis examines whether cities and counties differ significantly in their economic development efforts and whether smaller jurisdictions employ different types of development strategies and tools than larger ones. The survey findings also highlight the barriers that local governments face in promoting economic development and identify important technical assistance needs and gaps in local capacity.

Download or read book Guide to Municipal Finance written by Naomi Enid Slack and published by UN-HABITAT. This book was released on 2009 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Practitioner s Guide to Economic Development Finance written by Toby Rittner and published by . This book was released on 2021-08 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Practitioner's Guide to Economic Development Finance is the only comprehensive resource dedicated to building and utilizing the development finance toolbox. The Practitioner's Guide provides the insight and practical information needed to critically understand how economic development is financed and the tools, strategies, and techniques used to build strong communities. From bonds, tax increment finance, and special districts to tax credits, seed & venture capital, revolving loan funds, and much more, this book outlines the financing tools required for succeeding in today's competitive economic development climate. The Practitioner's Guide covers:- Understanding development finance- Building the development finance toolbox- Bedrock tools- Targeted tools- Investment tools- Access to capital lending tools- Federal Support tools- Case studies

Download or read book Economic Development written by Steven G. Koven and published by International City/County Management Association(ICMA). This book was released on 2003 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprehensive treatment of local economic development. Covers theory (classic and modern); tools (financing, tax policy, nonfinancial assistance); business attraction and retention; business creation (tools and current issues); the influence of high technology and education; and how to understand and evaluate the development readiness of each local environment. Detailed case studies highlight successful programs and also describe in detail the specific problems, challenges, and local realities that every development professional faces. Presents business-friendly innovations such as infrastructure improvements, site development, and training assistance. What is the role of government? What are the best targets for development? What is the importance of innovation? This book clarifies why each jurisdiction adopted the strategies it did and it presents the consequences of those strategies. Glossary and select bibliography.

Download or read book Transforming the Workforce for Children Birth Through Age 8 written by National Research Council and published by National Academies Press. This book was released on 2015-07-23 with total page 587 pages. Available in PDF, EPUB and Kindle. Book excerpt: Children are already learning at birth, and they develop and learn at a rapid pace in their early years. This provides a critical foundation for lifelong progress, and the adults who provide for the care and the education of young children bear a great responsibility for their health, development, and learning. Despite the fact that they share the same objective - to nurture young children and secure their future success - the various practitioners who contribute to the care and the education of children from birth through age 8 are not acknowledged as a workforce unified by the common knowledge and competencies needed to do their jobs well. Transforming the Workforce for Children Birth Through Age 8 explores the science of child development, particularly looking at implications for the professionals who work with children. This report examines the current capacities and practices of the workforce, the settings in which they work, the policies and infrastructure that set qualifications and provide professional learning, and the government agencies and other funders who support and oversee these systems. This book then makes recommendations to improve the quality of professional practice and the practice environment for care and education professionals. These detailed recommendations create a blueprint for action that builds on a unifying foundation of child development and early learning, shared knowledge and competencies for care and education professionals, and principles for effective professional learning. Young children thrive and learn best when they have secure, positive relationships with adults who are knowledgeable about how to support their development and learning and are responsive to their individual progress. Transforming the Workforce for Children Birth Through Age 8 offers guidance on system changes to improve the quality of professional practice, specific actions to improve professional learning systems and workforce development, and research to continue to build the knowledge base in ways that will directly advance and inform future actions. The recommendations of this book provide an opportunity to improve the quality of the care and the education that children receive, and ultimately improve outcomes for children.

Download or read book Governing and Financing Cities in the Developing World written by Roy W. Bahl and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report identifies the critical issues and describes current practice, the gap between practice and theory, and potential reform paths. Two core issues are explored: how to manage complex vertical and horizontal urban governance structures, and how to raise the finances to promote efficient, equitable, and sustainable metropolitan growth. The report explores local revenue instruments, with a focus on property-based local taxes and user charges, as well as external revenue sources such as intergovernmental transfers, borrowing, public-private partnerships, and international assistance.

Download or read book Tax Increment Financing and Economic Development Second Edition written by Craig L. Johnson and published by State University of New York Press. This book was released on 2019-07-10 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together leading experts to examine the evolving nature of tax increment financing (TIF), the most widely used tool of local economic and community development. Originally designed as an innovative approach to the redevelopment of blighted areas, it has become a more general-purpose tool of economic and community development. Contributors offer case studies of the uses, structures, and impacts of TIF projects alongside more general discussions on the theoretical, financial, and legal bases for the use of TIF. They also explore its effect on overlapping jurisdictions such as cities, counties, and school districts. Some of the case studies capture TIF at its best—redeveloping areas that would likely never develop without substantial incentives. Other cases highlight questionable uses, especially where it has been used in new ways that those who developed the tool never envisioned. Originally published in 2001, the book was called "...a major contribution to the debate on the efficacy of such economic development financing tools as TIF..." by the journal Public Budgeting & Finance. Clear, comprehensive, and timely, this new edition features the latest research and thinking on TIF, including the political, legal, and even ethical issues surrounding its use.

Download or read book Financing Economic Development in the 21st Century written by Sammis B. White and published by Routledge. This book was released on 2014-12-18 with total page 375 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fully revised new edition of this textbook presents a well-balanced set of economic development financing tools and techniques focused on our current times of economic austerity. While traditional public sector techniques are evaluated and refocused, this volume emphasizes the role of the private sector and the increasing need to bring together different techniques and sources to create a workable financial development package. The chapters address critical assessments of various methods as well as practical advice on how to implement these techniques. New chapters on entrepreneurship, the changing nature of the community banking system, and the increasing need for partnerships provides critical insights into the ever-evolving practice of economic development finance.

Download or read book A Good Tax written by Joan Youngman and published by . This book was released on 2016 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: In A Good Tax, tax expert Joan Youngman skillfully considers how to improve the operation of the property tax and supply the information that is often missing in public debate. She analyzes the legal, administrative, and political challenges to the property tax in the United States and offers recommendations for its improvement. The book is accessibly written for policy analysts and public officials who are dealing with specific property tax issues and for those concerned with property tax issues in general.

Download or read book Tax Increment Financing written by Susan Szaniszlo and published by . This book was released on 1984 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Economics of Inclusionary Development written by Stockton Williams and published by . This book was released on 2016 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: With nearly 10 million low- and moderate-income working households paying more than half their income towards their rent or mortgage, cities are increasingly using their zoning authority to encourage the development of new workforce housing units. A study by the ULI Terwilliger Center for Housing assesses and illustrates the economics of the most common approach: inclusionary zoning (IZ). Through IZ, cities require or encourage developers to create below-market rental apartments or for-sale homes in connection with the local zoning approval of a proposed market-rate development project. This study-based on in-depth analytic modeling, an extensive literature review, and interviews with developers and other land use experts-provides such advice on what incentives work best in which development scenarios. The study's purpose is to enable policy makers to better understand how an IZ policy affects real estate development and how to use the necessary development incentives for IZ to be most effective.

Download or read book Implementing Value Capture in Latin America written by Martim Oscar Smolka and published by Lincoln Inst of Land Policy. This book was released on 2013 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: The report examines a variety of specific instruments and applications in municipalities throughout the region under three categories: property taxation and betterment contributions; exactions and other direct negotiations for charges for building rights or the transfer of development rights; and large-scale approaches such as development of public land through privatization or acquisition, land readjustment, and public auctions of bonds for purchasing building rights. It concludes with a summary of lessons learned and recommends steps that can be taken in three spheres: Learn from Implementation Experiences Increase Knowledge about Theory and Practice Promote Greater Public Understanding and Participation