Friday, September 11, 2015
8:30 am - 3:00 pm
Eversource Energy Main Auditorium – Berlin Campus
107 Selden Street
With the unanimous passage of expanded TIF (Tax Increment Financing) legislation in 2015, CT has a new tool for economic growth. Join us to learn how municipalities can invest in their downtowns and communities through the creation of TIF districts. Listen as presenters from Iowa and Maine share their first-hand experience using this sustainable resource to transform their communities.
This important and informative workshop will explain how TIFs work, talk about what types of activities are eligible for Tax Increment Financing, and provide an overview for setting up a TIF district.
Planners are eligible for 5 AICP CM Credits.
Welcome & Introductions
John Simone, Connecticut Main Street Center
Hear the story of how Connecticut’s new TIF statute evolved from CMSC’s Come Home to Downtown program and the realization that a new tool for mixed-use development was needed. Afterwards, an overview of the new TIF statute will be provided.
Click here to view the legislation, An Act Establishing Tax Increment Financing Districts
Click here to view a one-page overview of creating a TIF district.
TIF Case Studies from Iowa
Jim Thompson, Main Street Iowa
This presentation will cover how municipalities can become familiar with and implement TIF districts. Hear specific examples of winning TIF districts/projects, including how the TIFs were created, what they were used for, the return on investment and positive long term effects. In addition, how municipalities can set the stage to attract developers and development will also be discussed.
Lessons on TIF from Maine
John Holden, Lewiston Auburn Economic Growth Council
Raegan LaRochelle, Eaton Peabody Consulting Group
These economic development professionals from Maine will share the experiences and results from developing over 350 TIF districts over the last 30+ years. Attendees will learn:
- Why municipalities should consider using TIF.
- How to decide as a community if TIFs are the right tool, how to create a TIF district and how to manage the TIF moving forward.
- What can TIFs be used for.
- How to project the potential TIF revenues that will be spent in the district.
- How to develop the right team to implement a TIF district.
- Formats to create TIF plans, including how to create a mutually beneficial a contract with a developer.
Audience members will be divided into groups to discuss what key things are needed for municipalities to consider and then adopt a TIF district plan. The groups will also determine what TIF-eligible uses are most desired in Connecticut communities.
Registration is closed for this event.