Housing and Development Incentives News

The latest trends, news and insights on TIFs, tax credits and other housing and development incentives.

MO Gov. Kehoe Signs $1.5 Billion Stadium Incentive Package to Keep Royals, Chiefs

Missouri Gov. Mike Kehoe has signed off on a $1.5 billion stadium incentive package aimed at keeping the Kansas City Royals and Chiefs from relocating across the state line. The plan would cover up to 50% of stadium costs using tax revenue generated by the teams,...

Ohio Senate Budget Threatens to Cut Historic Tax Credits Program

Ohio Senate Republicans’ new budget proposal would end the widely supported Ohio Historic Preservation Tax Credits program after fiscal year 2027, unless renewed by a future General Assembly. Since 2007, the credits have fueled dozens of major redevelopment projects...

Bipartisan Bill Aims to Boost Affordable Housing Production With LIHTC Reforms

Reps. Darin LaHood and Suzan DelBene have introduced the bipartisan Affordable Housing Credit Improvement Act of 2025, which seeks to improve the Low-Income Housing Tax Credit (LIHTC) program and finance over 2 million affordable rental homes over the next decade. Key...

Cleveland Greenlights TIF District for $3.3 Billion Riverfront Project, Sparking Debate

The Cleveland City Council approved a new TIF district for Bedrock's $3.3 billion Cuyahoga Riverfront project, which will include apartments, offices, retail, parks, and a practice facility for the Cavs. The plan involves allocating up to $1 billion in subsidies into...

City Rankings: Federal Historic Tax Credit Awards in 2022

CivMetrics collects key tax incentive data for the largest cities in the United States. In this post, we look at new data on the Federal Historic Tax Credit. For questions about our data, or to request data, please contact [email protected]. Data is from the...

Prestamos CDFI Secures $65 Million NMTC Funding

Oct 14, 2024 | Credits and Incentives

$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

Oct 14, 2024 | Credits and Incentives, TIFs

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,...

Chicago Approves $28 Million TIF for Downtown Project

Oct 14, 2024 | Credits and Incentives, TIFs

As part of the larger initiative to reuse projects in the Loop's historic financial district, $28 million in Tax Increment Financing (TIF) has been approved by the Chicago City Council for the conversion of seven floors at 79 W. Monroe St. into 117 mixed-income...

Heritage Affordable Communities Acquires 242 LIHTC Units in NY

Oct 14, 2024 | Credits and Incentives

Heritage Affordable Communities (HAC) strengthened its spot in New York's affordable housing market scene after recently acquiring 242 Low-Income Housing Tax Credit (LIHTC) units across three buildings in the Bronx. Subsequently, Locust Cove Management, an affiliate...

SSLM Development Seeks $10.7 Million TIF from Oklahoma City Council for Midtown Project

Sep 16, 2024 | Credits and Incentives, TIFs

SSLM Development is seeking up to $10.7 million in tax increment financing from Oklahoma City Council for its $81.4 million Midtown project. The proposed development will feature an apartment with mix residential units, courtyard, a pool, and a large parking garage,...

Detroit Lakes City Council Expands TIF District to Support Facility Construction

Sep 16, 2024 | Credits and Incentives, TIFs

To support the construction of Quality Equipment Sales and Service's new 15,000-square-foot facility in Detroit Lakes, Minnesota, the Detroit Lakes City Council expanded the TIF district to cover a larger area of U.S. Highway 10 and the intersection of 290th Street...

HUD Sets New Guidelines for 2025 Low-Income Housing Tax Credit Program

Sep 16, 2024 | Affordable Housing, Credits and Incentives

HUD has recently unveiled the 2025 parameters for Difficult Development Areas (DDAs) and Qualified Census Tracts (QCTs) for the Low-Income Housing Tax Credit program, which were published in the Federal Register. HUD sets these guidelines for designated areas in each...

Hunt Capital Powers Affordable Housing Project in Petoskey, MI With $13 Million LIHTC

Sep 16, 2024 | Credits and Incentives

Hunt Capital Partners is contributing to the revitalization of the Petoskey community in Michigan with a $13 million Low-Income Housing Tax Credit (LIHTC) award in Victories Square, a 50-unit tribal housing project in the city. This project promises affordable one-...

$570 Million TIF Fuels Denver’s $4.6 Billion Fox Park Development

Sep 6, 2024 | Credits and Incentives, TIFs

Denver is set to transform a former Superfund site into a $4.6 billion mix-use development, funded partly by taxpayer dollars, which will feature 2 million square feet of office space, 50,000 square feet of cultural space, 521 hotel rooms, and over 3,000 housing...

$10.6 Million TIF Proposal Aims to Boost High-Rise Development in West Palm Beach