Tax Increment Financing, or TIF, is a mechanism that allows future dollars – the incremental rise in tax revenue generated by development – to fund development today. CMSC worked closely with partner organizations to champion passage of a state law that enabled TIF districts in downtowns, thereby providing Connecticut’s cities and towns with a critical economic development tool.
At least ten Connecticut communities have created TIF districts since the bill’s 2015 passage, with several more in development. CMSC was looked to for guidance in creating several of these districts from both members and non-members.
