Housing and Development Incentives News
The latest trends, news and insights on TIFs, tax credits and other housing and development incentives.
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...
Milwaukee’s $2.85M TIF Plan to Build 59 Affordable Homes
A new Tax Increment Financing (TIF) district in Milwaukee’s Harambee neighborhood will provide $2.85 million plus 2.5% interest to support the creation of 59 affordable homes, including 51 homes by Habitat for Humanity and 8 homes for early-childhood educators...
Chicago Approves $67M TIF for Clark Adams Building Redevelopment
The City of Chicago has approved $67 million in Tax Increment Financing (TIF) funds to support the $183 million redevelopment of the historic 41-story Clark Adams Building in Chicago’s Central Loop. The project will transform multiple floors into 400 new apartments,...
City Council Greenlights $18.2M TIF for $150M Rochester, MN Apartment Project
The Rochester City Council of Minnesota has approved a new Tax Increment Financing District to support the development of the $150 million, 340-unit Citywalk Apartment project in downtown Rochester. In return for $18.2 million in public assistance, the developer will...
House Bill Proposed for LIHTC Reforms
House Republicans have introduced a sweeping reconciliation bill that includes both reforms to the Low-Income Housing Tax Credit (LIHTC) and deep cuts to key anti-poverty programs like Medicaid and SNAP. While the bill proposes some positive changes to LIHTC, such as...
Reno, Nevada Approves TIF Deal for $786 Million GSR Arena Project
The Reno redevelopment agency has approved a tax-increment financing (TIF) contract for the Grand Sierra Resort’s (GSR) $786 million phase one arena project. While the project has a projected $145.8 million funding gap, the TIF plan will cover approximately $68...
TIF Proposal to Fund $2.8 Billion Viva White Oak Development in Montgomery County, Maryland
Montgomery County, Maryland, has proposed its first-ever Tax Increment Financing (TIF) plan to support Viva White Oak by MCB Real Estate, a $2.8 billion mixed-use development in East County that promises 17,000 construction jobs, 9,000 permanent jobs, an estimated $62...
$14.8 Million in LIHTC Allocations to Fund 550 Affordable Units in Connecticut
The Connecticut Housing Finance Authority (CHFA) has allocated $14.8 million in federal LIHTCs to support 10 housing developments across Connecticut, which are expected to generate roughly $135 million in equity from private investments. The funding will support the...
Merchants Capital Secures $56.5M Financing with LIHTC Equity for Rhode Island Affordable Housing
Merchants Capital has arranged $56.5 million in debt and equity financing, which includes $23.8 million in Fannie Mae Immediate Tax-Exempt Bond Collateral (MTEB) permanent financing, $18.7 million in 4% low-income housing tax credit (LIHTC) equity, and a $14 million...
$22 Million in TIF Funding Sought for Two Affordable Housing Projects in Reno’s Neon Line
Jacobs Entertainment is seeking $22 million in tax increment financing to support two affordable housing developments as part of its $128 million Reno Neon Line expansion in Nevada. Of the TIF amount, $10 million would fund the redevelopment of the Bonanza Inn,...
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