Civic Development News and Data
The latest local trends, news and insights on infrastructure, economic development, housing and economics.
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...
Wage Growth Slows Sharply for American Workers
Wage growth in the U.S. is slowing, with the lowest-paid workers seeing the steepest drop, which is down to 3.7% in June from a 7.5% peak in late 2022, according to Federal Reserve Bank of Atlanta data. Pay for the higher-income workers American workers rose 4.7% in...
Conference Board: More CEOs Plan Job Cuts
CEO confidence in the U.S. economy is rising, but more executives plan to cut jobs than hire in 2025. According to the new data, 93% of businesses are turning to automation and passing on tariff-related expenses to consumers. CEO expectations for workforce cuts over...
Semiconductor Imports Face 100% Tariffs?
President Donald Trump announced plans to impose tariffs of about 100% on semiconductor imports, with details on timing and official guidance yet to be released. The move comes amid a Section 232 investigation into the national security and supply chain impacts of...
Applied Materials to Invest $200 Million in New Chandler, AZ Facility
Applied Materials will invest $200 million to build a Chandler, Arizona facility that manufactures components for semiconductor equipment, reinforcing the U.S. chip supply chain. The project is expected to create 200 jobs in the next five years and strengthen...
Final Land-Use Approval Clears Path for Massive $5.5b Resorts World Project in NY
Resorts World New York City has secured its final land-use approval for a $5.5 billion expansion at Aqueduct Racetrack, setting the stage to become the largest commercial casino in the U.S. if granted a downstate gaming license in December. The project will create...
New Colorado Law Targets Worker Misclassification, Unpaid Wages
Colorado’s new wage theft law ramps up penalties for employers who misclassify workers or withhold pay, benefits, or required breaks. House Bill 1001 expands enforcement to cover independent contractors, strengthens anti-retaliation protections, and increases fines....
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