Housing and Development Incentives News
The latest trends, news and insights on TIFs, tax credits and other housing and development incentives.
Norman, Oklahoma’s TIF Districts Set to Revitalize Griffin Memorial Hospital Area
The Norman City Council of Oklahoma is considering three proposed tax increment finance (TIF) districts, expected to generate $61 million over the next 25 years for the redevelopment in the Griffin Memorial Hospital project area. These districts include areas south of...
TIF Plan Moves Forward in Rutland, VT with $58.4M in New Development
The Rutland Board of Aldermen has approved the Tax Increment Financing (TIF) District Plan for submission to the Vermont Economic Progress Council (VEPC). If approved by VEPC, the TIF District is expected to generate revenue which will be earmarked to finance public...
New Bill Aims to Increase Historic Tax Credit for Rural Projects
Senators Shelley Moore Capito and Mark Warner have proposed the Rural Historic Tax Credit Improvement Act, S. 5607, a bipartisan bill aimed at increasing the historic tax credit for rural projects from 20% to 30%, and up to 40% for affordable housing development....
$263.2M LIHTC Fund to Advance Affordable Housing Development
Red Stone Equity Partners has closed its largest low-income housing tax credit (LIHTC) fund to date, the $263.2 million Fund 113, which is earmarked for the development and rehabilitation of 1,672 affordable housing units across 19 properties in 11 states. Fund 113...
New TIF District in Euclid, OH to Fund Park Trail Project
Euclid City Council has approved the creation of a special tax district to fund a new off-road trail that will connect the Cleveland Metroparks’ Euclid Creek Reservation to Euclid’s Hero Park. The 30-year, tax-increment financing (TIF) district will use the revenue...
Port of Douglas County, WA Approves TIF District to Fund Improvements
The Port of Douglas County Commissioners approved a Tax Increment Financing (TIF) District to fund improvements in the Pangborn Industrial Service Area in East Wenatchee, Washington, redirecting future tax revenue to spur economic development in the said area....
New Pennsylvania Law Raises Historic Tax Credit Cap to $20 Million
Pennsylvania recently increased its historic tax credit cap from $5 million to $20 million with the passing of HB 2358 by the legislature, significantly allowing more historic buildings to be preserved and saved from destruction. With the increased cap, developers are...
Hunt Capital Partners Closes $193.5M LIHTC Fund for Affordable Housing Development
Hunt Capital Partners (HCP) recently closed a $193.5 million LIHTC equity fund, Hunt Capital Partners Tax Credit Fund 51 (HCPTCF 51), marking the largest multi-investor fund in its history. Aiming to serve low-income families and unhoused individuals, the fund will be...
Northfield, MN Approves TIF District for $20.7M Archer House Replacement
Northfield’s City Council has approved a Tax Increment Financing (TIF) district to help close a funding gap for the $20.7 million Archer House replacement project in Minnesota, which is a mixed-use development featuring 23 apartments, 19 extended stay units, and a...
$15 Million TIF Funding Approved for Redevelopment in Chicago
As part of Chicago's efforts to address homelessness, the Community Development Commission has greenlit the use of up to $15 million in TIF funds from the Western/Ogden TIF district to convert an abandoned industrial building in Little Village into a 120-bed shelter...
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