twentytwelve domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home1/ceo4uor/public_html/sites/dc4reason/updates/wp-includes/functions.php on line 6121Tax Increment Financing (TIF)<\/a> is a municipal financial scheme whereby DC taxpayers fund and support private development projects throughout the city.<\/p>\n TIFs allow the diversion of taxes that would otherwise be generated by these new projects away from the city’s general budget for social needs (schools, parks, affordability, services, etc.), and instead these taxes are used to pay back private bankers whom authorized the TIF credit and municipal loan.<\/p>\n TIFs act as blank checks from the public to fund and externalize private development costs and is considered a form of corporate welfare.<\/p>\n Governments often use TIF resources to prepare land for development or redevelopment. In addition, governments may use TIF revenues to underwrite certain public structures, such as parking garages. If permissible under state statute, the construction of municipal facilities can be financed using TIF revenues. An Elected Official\u2019s Guide to TAX INCREMENT FINANCING<\/a> by Nicholas Greifer & The Government Finance Officers Association, July 2007.<\/strong><\/em><\/p><\/blockquote>\n The most recent District of Columbia TIF is for Union Market developers<\/strong>.<\/p>\n WARD 5 TIF<\/strong><\/p>\n THE SOUTHWEST WATERFRONT aka WHARF TIF<\/strong><\/p>\n The Living Social TIF Gift TIFs as political hot potatoes, a DC neighborhood-level discussion in Bloomingdale in 2010<\/a>.<\/strong><\/p>\n Many of the District\u2019s special deals have been very costly. In 2002, Gallery Place, a mixed-use transit-oriented development, received about $80 million in subsidies. To sell the TIF bonds for just this one project, DC had to pledge that incremental sales tax revenue from a much larger area would be made available if necessary. In 2006, another development in a quickly gentrifying neighborhood, the DC-USA mall project anchored by a Target store, received a $42 million TIF package. The District justified the deal in part by claiming it would enhance sales tax revenue in the surrounding neighborhood (DC has a problem with sales tax \u201cleakage\u201d to Maryland and Virginia), but DC has no method of tracking sales tax by location to determine if that worked. Good Jobs First, “Tracking Subsidies, Promoting Accountability in Economic Development,” Accountable USA – District of Columbia webpage.<\/strong><\/a><\/p><\/blockquote>\n\n
\n <\/small><\/strong>* <\/small>note: all monies noted here are based on annual repayment amounts, not the total TIF amounts<\/em><\/small><\/li>\n<\/ul>\n
\n
\n\n
\n
\n
\n<\/strong><\/p>\n\n
\n
\n