Thomas N. Jacob & Associates/EDG

TIF Services
You probably have a direction you would like to see your community grow. We’ll follow your lead. At our first meeting, we will sit down and discuss all that goes into setting up a Tax Increment Financing District. We will look ahead to financing options, then how to administer and enhance the TIF District once it is established.

1. \| Creating the TIF District
		The important work of redevelopment starts with creating the TIF District. Steps include establishing the area, negotiating agreements and preparing the TIF Plan. Determine the Development Area As we explore land-use revitalization strategies, we will build on your goals.We will guide the study that determines what properties will be included within the boundaries of the redevelopment area. Negotiate Agreements Whether you approach redevelopment from the perspective of local government or a developer, we are at your side negotiating the terms and conditions of the redevelopment agreement. Prepare the TIF Plan Once the TIF area is established, it is time to lay out the details of a TIF Plan.What projects will be included in the Plan? When will each step of the TIF be completed? How will any needed land be annexed? What are the best ways to involve your engineers, address legal issues, and meet qualification requirements? The details of the Plan are at the heart of the creation of a TIF District. Through our more than 20 years of TIF experience, we have developed a proven process.

2. \| Financing Projects
		We were the first economic development advisers to establish a “pay as you go” financing plan which reimburses developers after a project is completed. As an alternative, the town may issue revenue bonds to raise the initial capital needed to launch the project. These approaches eliminate any risk to the town. In addition, the town may use the TIF revenue to improve sewer and water lines, rebuild streets, and buy properties within the TIF District for any public purpose.

3. \| Administering the TIF District
		We direct over $15 million in annual payments for our towns. Keeping track of all expenses and payments within the District takes careful oversight. Complying with the TIF Act is essential and very time consuming. Thomas N. Jacob & Associates and The Economic Development Group, Ltd. can provide these management services so towns and developers can concentrate their efforts on their redevelopment projects.