Its Thursday - Time For Another TIF Study Commission Meeting

The third TIF Study Commission meeting will be held tonight, but beginning at 6 pm.  This one will be held at the Library Services Center, 2450 North Meridian Street.  That is just south of Fall Creek and the location of the Friends of the Library book sales that you might be familiar with.

TIF Study Commission webpage

Tonight's Agenda:

The Development Toolbox and Selected Projects from the Downtown TIF

I.              Welcome and Introduction of Commission Members (5 minutes)     Steve Talley, Commission Chair

II.            Alternative Perspectives of TIFs and Complementary Economic Development Tools

A.            TIFs in Other States (10 minutes)                                              Brooke Thomas, DMD, Planning

B.            Alternative and Complementary Development Tools (20 minutes)

                                                                                               Bruce Donaldson, Barnes & Thornburg

1.            Economic Development Bonds

2.            Real Property Tax Abatement

3.            Personal Property Tax Abatement

4.            Certified Technology Parks (CTP)

5.            Economic Improvement Districts (EIDs)

C.        Comparing the Costs and Benefits of TIFs to Other Development Tools (20 minutes)

                                                                          Loren Mathes, Principal, H.J. Umbaugh and Associates

D.            Tax Increment Financing as a Factor of Project Financing (10 minutes)                           

                                                                     Deron Kintner, Executive Director, Indianapolis Bond Bank

III.          Selected Projects and Expenses in Marion County TIF Districts – Part 1 (50 minutes)

A.            Consolidated Downtown TIF - General Overview (5 minutes)                                 Deron Kintner

1.            Review the Concept of Consolidation (debt, revenue, project location)

2.            TIF Districts

3.            Outstanding Debt

4.            Real Property Tax Revenue (Historical and Projected through Bond Retirement)

5.            Personal Property Tax Revenue (Historical and Projected through Bond Retirement)

Note for each selected project, discussion to include Circle center Mall and City Way, the following:

                  ·    How was the project selected?

                  ·    Who was the developer?

                  ·    How was the Developer chosen?

                  ·    How did the plan and financing methods align with overall economic development plans?

                  ·    What other development tools were used for the project?

                  ·    Outcomes, Comparing Realized to Projected or Goal

                  ·    Successes

                  ·    Lessons Learned

                  ·    Measurement of the Return on the Public Investment