CMSC’s CEO John Simone was recently interviewed by The Commercial Record about the new tax increment financing legislation passed last year and how downtown revitalization needs “lasagna financing” to be successful.

Streetscapes, sidewalks, traffic calming, facade improvements, paying for marketing a downtown, economic development work and safety are all some of the projects that could be financed using the TIF legislation.  It can also be used for gap financing for adaptive reuse of downtown buildings and the opportunity to turn that into mixed-use residential, according to Mr. Simone.  CMSC’s Come Home to Downtown program, transit oriented development and supporting downtown pioneers can also help revitalize Connecticut’s downtowns.

Recipe for Downtown Revitalization: ‘Lasagna’ Financing