Loading...
Patrick/TIF DiscussionCity of Kalispell Post Office Box 1997 - Kalispell, Montana 59903-1997 - Telephone (406) 758-7000 Fax - (406) 758-7758 REPORT TO: Honorable Mayor and City Council FROM: James H. Patrick, City Manager SUBJECT: TIF Discussion DATE: October 27, 2005 There has been a lot of discussion concerning Tax Incremental Financing Areas and Tuesday night's discussion is intended to revisit the two types of TIF districts that a City may create, the costs that may be paid by the TIF, TIF reimbursement, and potential projects. Tax Increment Financing is an economic development tool used in most states and is one of the top five questions developers ask about when looking at relocation or expansion. Property owners in and outside the district do not pay any more or less taxes with or without TIF. Industrial and businesses do not consume many city services nor do they send students to school and use those resources. Montana Code allows for Industrial, and aerospace and technology Districts. Kalispell has only used the Urban Renewal TIF in the past. Urban Renewal Districts specifically address blighted and/or underutilized areas of the City in an attempt to correct the blighted area. Industrial TIFs may be used for projects undertaken within or for an industrial district if the proposed industrial district consists of a continuous area with an accurately described boundary, is zoned for industrial use, does not include any property included within an existing urban renewal area district, is deficient in infrastructure improvement for industrial development, and has as its purpose the development of infrastructure to encourage the growth and retention of secondary, value added industries. The aerospace transportation and technology TIF is undertaken within or for an aerospace transportation and technology district if the proposed district consists of a continuous area with an accurately described boundary, properly zoned, does not include any property currently included within an existing urban renewal area district or industrial infrastructure development district, is found to be deficient in infrastructure improvements for industrial development, and has as its purpose the development of infrastructure improvements for industrial development, and aerospace transportation and technology infrastructure development project in the state. Tax increments may be used by the municipality to pay the following costs of or incurred in connection with an urban renewal project, industrial infrastructure development project, or aerospace transportation and technology infrastructure development project: land acquisition; demolition and removal of structures, relocation of occupants, the acquisition, construction, and improvement of infrastructure; or aerospace transportation and technology infrastructure that includes streets, roads, curbs, gutters, sidewalks, pedestrian malls, alleys, parking lots and off street parking facilities, sewers, sewer lines, sewage facilities, publicly owned buildings and any public improvements; costs incurred in connection with the allowable redevelopment activities; acquisition of infrastructure deficient areas or portions of areas; administrative costs associated with the management of the industrial district or the aerospace transportation and technology districts; assemblage of land for development or redevelopment by private enterprise or public agencies, including sale, initial leasing or retention by the City at its fair value; the compilation and analysis of pertinent information required to adequately determine the infrastructure needs of secondary, value -adding industries in the industrial district or the needs of an aerospace transportation and technology infrastructure development project in the aerospace transportation and technology district; the connection or the industrial district or the aerospace transportation and technology district; the provision of direct assistance, through industrial infrastructure development projects or aerospace transportation and technology infrastructure development projects, to secondary, value -adding industries to assist in meeting their infrastructure and land needs within the industrial district or the aerospace technology; and the acquisition, construction, or improvement of facilities or equipment for reducing, preventing, abating or eliminating pollution. Business, companies that do not qualify for a TIF would pay the taxes in the normal fashion. As you are aware, when a TIF District is established, the current tax base is frozen for continued distribution to the taxing agencies. The new tax base created then goes to fund the necessary improvements for a period of 15 years or for the length of the bonds. All taxing agencies ultimately derive benefit from the increased tax base as well as the wealth created in the community from increased wages, services, and jobs that are made. Respectfully submitted, James H. Patric City manager