An Introduction to Tax Increment Financing Districts

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Presentation transcript:

An Introduction to Tax Increment Financing Districts Stuart Arnett Arnett Development Group LLC February 28, 2007 www.ArnettDevelopmentGroup.com

What a TIF is Not Tax rate or tax bill change Subsidy for private property Cure for a bad project 100% risk-free Complicated idea Simple “what ifs….” www.ArnettDevelopmentGroup.com

What is a TIF? Town invests borrowed funds in a district New funds allow additional tax base Higher base means more tax receipts Pre-TIF tax receipts: no change New tax receipts go: 1st. Pay new debt off 2nd. Could go into the district – optional 3rd. General fund Sunsets when paid off; 100% $ then to Gen Fund www.ArnettDevelopmentGroup.com

Who ? Federal? State? Private – in New Hampshire? Communities ? No Yes: allowed, not required, smart to consider www.ArnettDevelopmentGroup.com

Why ? Accelerates public investment in public infrastructure Opens other opportunities More tax revenues Economic opportunities More control of project Avoids “cost creep” www.ArnettDevelopmentGroup.com

When is a TIF a Success? A good project Shared infrastructure needs Strong, honest partner “in-hand” Risk-management measures adopted Open communications with public Competent Municipal team Trust www.ArnettDevelopmentGroup.com

Questions? Stuart Arnett Stuart@ArnettDevelopmentGroup.com 603-219-0043 - Office 603-224-5898 - Home