Infrastructure and Tax Increment Financing Incentive Program
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Infrastructure and Tax Increment Financing Incentive Program Inquiries
Program Description
The Infrastructure and Tax Increment Financing (TIF) Incentive Program is intended to support transformative redevelopment projects that advance the revitalization goals of the NW 79th Street CRA. The program assists eligible developments that generate significant public benefit, stimulate private investment, expand the tax base, and contribute to long-term economic sustainability within the corridor.
Funding Structure
- Infrastructure funding provided on a reimbursement basis for eligible public infrastructure improvements.
- TIF reimbursement of up to 50% of the actual tax increment generated by the project.
- Reimbursements are performance-based and subject to an executed development agreement.
- Annual reimbursement payments may be structured over an agreed-upon term following project completion.
Eligible Improvements Include
- Utility infrastructure upgrades, including water, sewer, drainage, and broadband improvements.
- Streetscape, lighting, landscaping, mobility, and public realm enhancements.
- Mixed-use, commercial, industrial, workforce housing, and corridor-activating developments.
- Adaptive reuse or redevelopment of underutilized or blighted properties.
- Transit-supportive and catalytic redevelopment projects that generate measurable community impact.
Eligibility and Conditions
- Projects must demonstrate a funding gap and show that CRA assistance is necessary for project feasibility.
- Projects must generate a minimum of $4 million in new taxable value upon completion.
- Applicants must demonstrate development experience and financial capacity to complete the project.
- Projects are subject to CRA Board approval and execution of a formal development agreement.
- Developers may be required to provide community benefits, local hiring efforts, and compliance reporting depending on funding levels.
PROPERTY ELIGIBILTY
See if your property is within the NW 79th Street CRA Boundary