Adaptive Reuse Topic: Tax Increment Financing

Adaptive Reuse Topic: Tax Increment Financing

Wikipedia Definition: Tax Increment Financing - http://en.wikipedia.org/wiki/Tax_increment_financing

This wikipedia definition covers Tax Increment Financing history and common applications. TIFs are used to finance redevelopment. TIFs use projected future gains in taxes to subsidize current projects. TIFs began in California in 1952 and constitute over $10 billion in revenue for that state. Some criticize TIFs by claiming that these incentives don't actually benefit residents of an area and instead create tax inflation and gentrification.

Article: Fort Worth Avenue TIF District Plan - http://www.dallas-ecodev.org/wp-content/uploads/2012/04/FortWorthAvenue_plan.pdf

This plan for the Fort Worth Avenue area of Dallas shows the City's plan for this area of Dallas that is just east of downtown. I am currently in the process of moving to the area, so this plan is important to me. The City would like to make improvements to several components of the area to attract more single family development, encourage retail development, and increase the tax base.

Article: Sylvan Thirty gets TIF extension - http://cityhallblog.dallasnews.com/2012/06/sylvan-thirty-gets-city-deadline-extension-groundbreaking-pushed-back-to-later-this-summer.html/

This article discusses a property that was attempting to get up to $3M in financing from the Fort Worth Avenue TIF district that is mentioned above. This mixed use property would be instrumental in improving the Fort Worth Avenue area.