1. Santa’s Warehouse A Tax Increment Financing Example
December 28, 2016

2. Every project starts with an idea
Santa needs a distribution warehouse in the Central U.S.
Santa’s
Warehouse

3. TIF Application Submit application to Regional Planning/CRA
Public document
Details the general project, costs and funding sources
Santa’s submits his application Jan. 11, 2017

4. Redevelopment Plan Includes all Statutory Requirements
Cost Benefit Analysis
Kick starts a series of public meetings

5. Meeting Timeline

6. Meeting Timeline

7. Meeting Timeline

8. Meeting Timeline

9. Meeting Timeline

10. After all the public meetings:

11. Issuance of TIF Funds Limited use Purchase TIF bonds
No real money changes hands
May be taxable income

12. TIF Bond

13. Notice of Intent to Divide

14. Funding the TIF Bond

15. Send Proof of Funding to CRA

16. Release of Bond to Developer

17. Assignment of Bond

18. Tax payouts - Year 1

19. Throughout the process

20. County Treasurer Splits Taxes

21. Tax payouts – Year 2

22. When bond is paid or expires

23. Tax payouts – Project Completion

24. Full taxes go to taxing entities

25. During the TIF process
Elected officials are invited to multiple meetings
General public may comment at meetings.
Meeting schedule takes two to six months
No tax revenue is lessened
Public is ensured new infrastructure & improvements
Public is ensured increased future tax base