Housing and Development Incentives News
The latest trends, news and insights on TIFs, tax credits and other housing and development incentives.
Portland, OR Approves Six New TIF Districts; Expected to Generate $2.8 Billion
The Portland City Council has recently approved the creation of six new Tax Increment Finance (TIF) districts, which are expected to generate $2.8 billion over 30 years in east Portland and the Central City: 82nd Avenue Area, East 205, Sumner-Parkrose-Argay-Columbia...
Charleston City, SC Approves Union Pier TIF District
In a significant step toward community revitalization, Charleston City Council recently approved the establishment of a Tax Increment Financing District at Union Pier, which will create more opportunities and catalyze public investment in green spaces, waterfront...
New York City Regional Center Receives $50 Million New Market Tax Credit to Support Community Development Projects
With a goal of bringing positive change to underserved areas of New York City, New York City Regional Center (NYCRC) has received a $50 million New Market Tax Credit award from the Community Development Financial Institutions Fund of the U.S. Department of Treasury,...
Boston Financial Closes $170 Million LIHTC Fund to Support Affordable Housing Development
Boston Financial announced that it has successfully closed ITC 60, a $170 million multi-investor LIHTC fund with commitments from six institutional investors, which will provide capital to 14 affordable housing developers. ITC 60 is expected to support both new...
The Ave Project Secures $18.25 Million TIF Financing from Chicago City Council
The Chicago City Council has approved $18.25 million in TIF financing for The Ave, a new four-story development set to replace the current Neighborhood Housing Services office at 3601 W. Chicago and transform the property into a mixed-use space that will feature 52...
Geneva, IL Approves $42.8 Million TIF Agreement for New Industrial Park
The Geneva City Council has approved a $42.8 million tax increment financing (TIF) agreement with MIF-Geneva Park to support the development of a new industrial park, which will feature 8 to 12 manufacturing buildings or warehouses on 211 acres east of Kirk Road in...
St. Paul, MN Allocates $2.16 Million TIF Loan for Mary Hall Housing Redevelopment
The St. Paul City Council has approved the allocation of $2.16 million in tax increment finance (TIF) funds, which will be pooled from TIF districts throughout the city for the $34.7 million redevelopment of Mary Hall into 90 supportive housing units. AEON will...
Travois Secures $35M in NMTC Funding to Boost Native Community Economic Development
Kansas City-based Travois, a nationally certified Community Development Entity (CDE), recently received $35 million in New Markets Tax Credits from the U.S. Department of the Treasury to support Native community projects, which will be allocated towards projects in...
Prestamos CDFI Secures $65 Million NMTC Funding
$65 million in New Markets Tax Credits (NMTC) has been secured by Prestamos CDFI, LLC, a division of Chicanos Por La Causa, from U.S. Treasury's CDFI Fund. This marks their seventh award received, which will also be used to support Prestamos' efforts to uplift...
$10 Million TIF Funding Approved for Three Public Schools in Chicago
The Chicago City Council has approved a total of $10 million in Tax Increment Financing (TIF) for facility upgrades at three public schools in North Lawndale. James Weldon Johnson STEAM Elementary and Thomas Chalmers STEAM Elementary will each receive $3.75 million,...
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