Reforming Tax Increment Financing (TIF)

When used to off-set the high costs of redeveloping blighted sites in poor neighborhoods, tax increment financing (TIF) can be an effective economic development tool. However, all too often, cities are using TIF to underwrite projects in affluent areas, to subsidize construction on undeveloped land, and to finance big-box retail. A growing number of states are considering legislation to reform TIF. … Read More