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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.
4th edition of the premier text on local government budgeting, revenues, and financig.
Includes guidelines and case studies.
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.
Governments have always endured economic woes, but the increasing severity of such challenges, from the Great Recession starting in 2008 to the unprecedented impact of the COVID-19 pandemic, highlights the need for better-developed fiscal analysis capacity in governments of all sizes using the most practical—yet robust—techniques available. This volume presents an array of real-world analytical approaches in a variety of service areas at the core of state and local government.
The new student edition of the definitive reference on urban planning and design Planning and Urban Design Standards, Student Edition is the authoritative and reliable volume designed to teach students best practices and guidelines for urban planning and design. Edited from the main volume to meet the serious student's needs, this Student Edition is packed with more than 1,400 informative illustrations and includes the latest rules of thumb for designing and evaluating any land-use scheme--from street plantings to new subdivisions. Students find real help understanding all the practical information on the physical aspects of planning and urban design they are required to know, including: * Plans and plan making * Environmental planning and management * Building types * Transportation * Utilities * Parks and open space, farming, and forestry * Places and districts * Design considerations * Projections and demand analysis * Impact assessment * Mapping * Legal foundations * Growth management preservation, conservation, and reuse * Economic and real estate development Planning and Urban Design Standards, Student Edition provides essential specification and detailing information for various types of plans, environmental factors and hazards, building types, transportation planning, and mapping and GIS. In addition, expert advice guides readers on practical and graphical skills, such as mapping, plan types, and transportation planning.
Local budgeting serves important functions that include setting priorities, planning, financial control over inputs, management of operations and accountability to citizens. These objectives give rise to technical and policy issues that require open discussion and debate. The format of the budget document can facilitate this debate. This book provides a comprehensive treatment of all aspects of local budgeting needed to develop sound fiscal administration at the local level. Topics covered include fiscal administration, forecasting, fiscal discipline, fiscal transparency, integrity of revenue administration, budget formats, and processes including performance budgeting, and capital budgeting.
Impact fees are one-time charges that are applied to new residential developments by local governments that are seeking funds to pay for the construction or expansion of public facilities, such as water and sewer systems, schools, libraries, and parks and recreation facilities. In the face of taxpayer revolts against increases in property taxes, impact fees are used increasingly by local governments throughout the U.S. to finance construction or improvement of their infrastructure. Recent estimates suggest that 60 percent of all American cities with over 25,000 residents use some form of impact fees. In California, it is estimated that 90 percent of such cities impose impact fees. For more than thirty years, impact fees have been calculated based on proportionate share of the cost of the infrastructure improvements that are to be funded by the fees. However, neither laws nor courts have ensured that fees charged to new homes are themselves proportionate. For example, the impact fee may be the same for every home in a new development, even when homes vary widely in size and selling price. Data show, however, that smaller and less costly homes have fewer people living in them and thus less impact on facilities than larger homes. This use of a flat impact fee for all residential units disproportionately affects lower-income residents. The purpose of this guidebook is to help practitioners design impact fees that are equitable. It demonstrates exactly how a fair impact fee program can be designed and implemented. In addition, it includes information on the history of impact fees, discusses alternatives to impact fees, and summarizes state legislation that can infl uence the design of local fee programs. Case studies provide useful illustrations of successful programs. This book should be the first place that planning professionals, public officials, land use lawyers, developers, homebuilders, and citizen activists turn for help in crafting (or recrafting) proportionate-share impact fee programs.
View the author's companion website for more information and extra materials Whether they have full governance powers or are just there in an advisory capacity, trustees on library boards need to understand the complex issues that affect a library's ability to provide its community with materials and services that support lifelong learning, jobs, and quality of life. Authors Ellen G. Miller and Patricia H. Fisher have created a strategic guide that will help library board leaders handle important issues such as managing risk; local values and first amendment rights; leadership capable of achieving the library's ideal vision; getting and growing diverse funding sources; and becoming part of the community's leadership team. These issues are discussed in laymen's terms designed for busy trustees and directors who have only a few hours per month together to consider options and make decisions. Library Board Strategic Guide: Going to the Next Level seeks to help trustees and their directors in three broad areas: understanding complex issues and their local impact, assessing the trustee's role in addressing those issues, and reviewing experiences and best practices from other libraries. With many other uses, including use as a tool for board meeting discussions, for self-study, or as a benchmark for assessing your board's performance, this guide will help your library leaders reach that next level of community support.