Housing and Development Incentives News
The latest trends, news and insights on TIFs, tax credits and other housing and development incentives.
Ballot Measure Sought to Expand Public Role in Vermilion, OH TIF Decisions
A petition filed with Vermilion City Council seeks to require voter approval on any future tax increment financing measures. The proposal, led by attorney Gerald Phillips, would mandate that both Vermilion residents and affected school district voters sign off on TIF...
Stricter Rules Proposed for Norfolk, NE TIF Housing Projects
Housing dominated discussion at Norfolk’s tax increment financing advisory committee meeting, where members weighed how TIF could address the city’s affordability challenges. Members debated proposals such as limiting TIF support to homes under $350,000, requiring...
Chicago Approves $11.9M TIF for $52.3M Mixed-Income Development
The Chicago City Council has approved $11.9 million in TIF funding and the sale of city-owned land to support Southbridge 1C, a $52.3 million mixed-income development planned by The Community Builders on the former Harold Ickes Homes site. The 12-story building will...
Lee Health Secures $6 Million NMTC for New Fort Myers Medical Facility
UB Community Development closed on $6 million in New Markets Tax Credit financing with Lee Health to support a new medical facility in Fort Myers, Florida. The 85,000-square-foot laboratory and data center will provide testing services for more than 100,000 people...
State Auditor: Chesterfield’s $353M TIF Legal Under Missouri Law
Chesterfield’s $353 million TIF package cleared a legal hurdle after State Auditor Scott Fitzpatrick said the plan does not violate Missouri law. The decision comes amid criticism that the TIF skirts state rules by funding projects that could move forward without tax...
FHFA Expands LIHTC Policy, Doubles GSE Cap
FHFA announced a significant adjustment to its LIHTC program as it doubled the Low-Income Housing Tax Credit (LIHTC) investment cap for Fannie Mae and Freddie Mac, raising their combined investment limit to $4 billion per year. This initiative requires half the funds...
$32M in NMTCs Fund Major Detroit Redevelopment
Four Detroit redevelopment projects will share $32 million from Invest Detroit’s New Markets Tax Credit allocation, provided by the U.S. Department of the Treasury’s Community Development Financial Institutions Fund. The funding includes $7.5 million for METD/Laepple...
Massachusetts Awards $182M in Low-Income Housing Tax Credits
Twenty-one rental housing developments across Massachusetts will receive $182 million in low-income housing tax credits and subsidies to create or preserve 1,245 homes. This round of funding includes $32.2 million in federal Low-Income Housing Tax Credits, $31.6...
Moratorium Blocks Some TIF Projects in Chelan County, WA
Chelan County has enacted a six-month moratorium on creating tax increment financing (TIF) projects in unincorporated areas, citing concerns over the proposed 3,326-acre Malaga TIF. Commissioners say the pause will allow time to assess potential impacts on taxpayers,...
Maine Approves Historic Tax Credit Expansion
Maine has doubled its annual cap on historic rehabilitation tax credits from $5 million to $10 million for each of the first two years of a project, marking the first increase since the program began in 2008. Advocates say the change will help developers complete...
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