Housing and Development Incentives News
The latest trends, news and insights on TIFs, tax credits and other housing and development incentives.
Chicago TIF District Expansion to Fund Over 300 New Units at Lathrop Homes
The Chicago City Council recently approved an expansion of the Diversey/Chicago River tax increment financing district, which will help increase funding for the construction of more than 300 housing units in the southern section of the Lathrop Homes development...
TN Attorney General: Tax Incentive Resolution Raises Constitutional Concerns
Tennessee Attorney General Jonathan Skrmetti has raised legal concerns about a new Shelby County resolution requiring developers to first complete "culturally competent community engagement" before seeking tax incentives, suggesting parts of the policy could violate...
$15M LIHTC Project in Yellow Springs, Ohio Moves Forward
A low-income housing tax credit (LIHTC) project in Yellow Springs, Ohio, is moving forward, with Village Council recently approving key resolutions to support Woda Cooper Development’s $15 million LIHTC application to the Ohio Housing Finance Agency. To ensure the...
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...
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