Tag: Tax increment financing
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Tax increment financing (TIF) resources
Resources on tax increment financing (TIF) districts.
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Wichita TIF projects: some background
Tax increment financing disrupts the usual flow of tax dollars, routing funds away from cash-strapped cities, counties, and schools back to the TIF-financed development. TIF creates distortions in the way cities develop, and researchers find that the use of TIF means lower economic growth.
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Clawbacks illustrate difficulty of economic development
Politicians and government officials like clawbacks in economic development incentive agreements. But do these provisions have any negative aspects?
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Economic development in Wichita: Looking beyond the immediate
Decisions on economic development initiatives in Wichita are made based on “stage one” thinking, failing to look beyond what is immediate and obvious.
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Wichita economic development items
The Wichita city council has been busy with economic development items, and more are upcoming.
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City of Wichita State Legislative Agenda: Economic Development
The City of Wichita wishes to preserve the many economic development incentives it has at its disposal.
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Kansas cities should not unilaterally grant tax breaks
When Kansas cities grant economic development incentives, they may also unilaterally take action that affects overlapping jurisdictions such as counties, school districts, and the state itself. The legislature should end this.
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Tax not me, but food for the poor
This is Union Station in downtown Wichita. Its owner has secured a deal whereby future property taxes will be diverted to him rather than funding the costs of government like fixing streets, running the buses, and paying schoolteachers. This project may also receive a sales tax exemption. But as you can see, the owner wants…
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Old Town Cinema TIF update
The City of Wichita Department of Fiance has prepared an update on the financial performance of the Old Town Cinema Tax Increment Financing (TIF) District. There’s not much good news in this document.