Housing and Development Incentives News
The latest trends, news and insights on TIFs, tax credits and other housing and development incentives.
St. Peter City Council Greenlights TIF for 50-Unit Apartment Project in Minnesota
The St. Peter City Council has approved tax increment financing (TIF) for St. Peter Land LLC to construct a 50-unit apartment building west of Klein Street. The TIF conditions stipulate that the developer will receive up to $1,011,164 or 12 years of reimbursement for...
New Laws Boost HTC Programs in Missouri, Massachusetts, and Pennsylvania
Recent legislative changes in Missouri, Massachusetts, and Pennsylvania have enhanced state Historic Tax Credit (HTC) programs, boosting development opportunities in the affordable housing sector with increased tax credits and expanded eligibility. Key changes...
The 10 Largest TIFs of 2024 So Far
There have been over 30 TIF deals in 2024, according to data from the CivMetrics TIF Deals Database. Here are the 10 largest TIFs that have been approved in 2024: Note: Analysis only includes deals captured by CivMetrics TIF Deals Database. To browse our full database...
Cooper Steel Secures $40.7M NMTC Financing from Four Lenders for Shelbyville, TN Expansion
Cooper Steel has secured $40.7 million in New Markets Tax Credit financing to fund its massive steel fabrication expansion in Shelbyville, TN, which is expected to create 122 new jobs. The NMTC funding will be provided by four lenders: The Innovate Fund with $13...
$300 Million LIHTC Collateral Pilot Program Launched by FHLBank Chicago
The Federal Home Loan Bank of Chicago provides its support in the development of affordable housing as it recently launched Low-Income Housing Tax Credit (LIHTC) Collateral Pilot Program. Under the LIHTC program, while eligible members can access up to $300 million in...
Broadway Corridor Project Secures $4.5 Million TIF Boost from Portland Housing Bureau
A 14-story mixed-use project in the Broadway Corridor will receive a financial boost after the Portland Housing Bureau approved $4.5 million in River District Tax Increment Financing and $37.5 million in Metro Affordable Housing Bond dollars for its development....
Chicago’s LeClaire Courts Secures $5.5 Million TIF Funding
$5.5 million in TIF funding has been approved by Chicago's Community Development Commission for the first residential phase of LeClaire Courts development, a multiple mixed-use building project by The Habitat Company and Cabrera Capital Partners in partnership with...
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...
Ohio’s Future Fund Awards $14.6 Million to Infrastructure Improvements in Defiance County
This week the Office of Ohio Governor Mike DeWine announced a $14.6 million award from the All Ohio Future Fund which will be used for infrastructure improvements at a 1,000-acre site in Defiance County. Baltimore Avenue Industrial Corridor in Defiance will be...
City of Trenton Receives $15.6 Million Choice Neighborhoods Grant for Redevelopment
The City of Trenton and the Trenton Housing Authority have been awarded a $15.6 million Choice Neighborhoods Grant as announced by President Biden and HUD Acting Secretary Todman. The funding will be allocated towards the improvements and redevelopments to be made at...
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