Examines the many issues raised by TIF, the most widely used tool of local economic and community development. This book brings together leading experts to examine the evolving nature of tax increment financing (TIF), the most widely used tool of local economic and community development. Originally designed as an innovative approach to the redevelopment of blighted areas, it has become a more general-purpose tool of economic and community development. Contributors offer case studies of the uses, structures, and impacts of TIF projects alongside more general discussions on the theoretical, financial, and legal bases for the use of TIF. They also explore its effect on overlapping jurisdictions such as cities, counties, and school districts. Some of the case studies capture TIF at its best—redeveloping areas that would likely never develop without substantial incentives. Other cases highlight questionable uses, especially where it has been used in new ways that those who developed the tool never envisioned. Originally published in 2001, the book was called “...a major contribution to the debate on the efficacy of such economic development financing tools as TIF...” by the journal Public Budgeting & Finance. Clear, comprehensive, and timely, this new edition features the latest research and thinking on TIF, including the political, legal, and even ethical issues surrounding its use. Craig L. Johnson is Associate Professor of Public Finance and Policy Analysis at Indiana University. He is the coauthor (with Martin J. Luby and Tima T. Moldogaziev) of State and Local Financial Instruments: Policy Changes and Management. Kenneth A. Kriz is University Distinguished Professor of Public Administration at the University of Illinois at Springfield.

Examines the many issues raised by TIF, the most widely used tool of local economic and community development.

Examines the many issues raised by TIF, the most widely used tool of local economic and community development. This book brings together leading experts to examine the evolving nature of tax increment financing (TIF), the most widely used tool of local economic and community development. Originally designed as an innovative approach to the redevelopment of blighted areas, it has become a more general-purpose tool of economic and community development. Contributors offer case studies of the uses, structures, and impacts of TIF projects alongside more general discussions on the theoretical, financial, and legal bases for the use of TIF. They also explore its effect on overlapping jurisdictions such as cities, counties, and school districts. Some of the case studies capture TIF at its best—redeveloping areas that would likely never develop without substantial incentives. Other cases highlight questionable uses, especially where it has been used in new ways that those who developed the tool never envisioned. Originally published in 2001, the book was called “…a major contribution to the debate on the efficacy of such economic development financing tools as TIF…” by the journal Public Budgeting & Finance. Clear, comprehensive, and timely, this new edition features the latest research and thinking on TIF, including the political, legal, and even ethical issues surrounding its use.

Economist David Merriman of the University of Illinois at Chicago reviews more than 30 individual studies in the most comprehensive assessment of tax increment financing (TIF) with practical recommendations for policy makers and practitioners. The report finds that while TIF has the potential to draw investment into neglected places, it has not accomplished the goal of promoting economic development in most cases. First implemented in the 1950s, TIF funds economic development within a defined district by earmarking increases in future property tax revenues that result from increases in real estate values in the district. The tax revenue can be used for public infrastructure or to compensate private developers for their investments, but TIF is prone to several pitfalls: it often captures some revenues that would have been generated through normal appreciation in property values, it can be exploited by cities to obtain revenues that would otherwise go to overlying government entities such as school districts, and it can make cities' financial decisions less transparent by separating them from the normal budget process. The report recommends several ways that state and local policy makers can reform TIF practices going forward.

The fully revised new edition of this textbook presents a well-balanced set of economic development financing tools and techniques focused on our current times of economic austerity. While traditional public sector techniques are evaluated and refocused, this volume emphasizes the role of the private sector and the increasing need to bring together different techniques and sources to create a workable financial development package. The chapters address critical assessments of various methods as well as practical advice on how to implement these techniques. New chapters on entrepreneurship, the changing nature of the community banking system, and the increasing need for partnerships provides critical insights into the ever-evolving practice of economic development finance.

Great natural disasters are rare, but their aftermath can change the fortunes of a city or region forever. This book identifies lessons from different parts of the world to help communities and government leaders better organize for recovery after future disasters. The authors consider the processes and outcomes of community recovery and reconstruction following major disasters in six countries: China, New Zealand, India, Indonesia, Japan, and the United States. If done well, reconstruction can help break the cycle of disaster-related impacts and losses, and improve the resilience of a city or.