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Tax Increment Financing

An economically feasible, sustainable funding mechanism For developers and communities alike, one of the biggest barriers to overcome when redeveloping brownfield property is the cost of environmental activities. The question often asked is “How do we fund these costs?” We have come a long way, where the particular project cost pro forma can support the environmental costs in obtaining willingness from the existing capital market to finance the environmental activities (with assurances from the developer). However, another question more often asked, is “How do we fund these costs and not have the environmental activities affect my project cost pro forma?” When this is the case a number of creative methods have been used to fund these activities. Federal or state funded grants or loans are routinely used to fill critical funding gaps to cover specific, planned and eligible environmental activities. Both state and federal grants and loans have played significant…Log In to Read Full Article

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