The funding mechanism exchanges public funding for a certain number of affordable units.
An article by David Erickson in The Missoulian explains a new form of development incentive called Tax Increment Financing (TIF), recently approved by the Missoula Redevelopment Agency board.
“The Missoula Redevelopment Agency is inviting housing developers to discuss options for receiving Tax Increment Financing for projects that include workforce housing units after a new set of guidelines for a pilot project was approved last month by the agency’s board,” Erickson adds.
The program would provide public assistance to eligible projects that include units that meet affordability requirements, including remaining affordable for 30 years for rentals and 75 years for sales projects. “The Montana Legislature in 2021 amended state law to allow workforce housing to be included in the list of infrastructure types that can be paid for by TIF.”
The TIF mechanism has funded other major projects around the country, including the Chicago Red Line extension and infrastructure repairs in Cincinnati, Ohio.
FULL STORY: Missoula aims to incentivize income-restricted workforce housing through TIF
This Colorado Ski Town Saves 75% of its Full-time Housing for Local Workers
Breckenridge has invested millions in creating deed-restricted workforce housing for local residents.
Missoula Opens New Affordable Housing Complexes
The city is adding hundreds of new housing units in an effort to ease the region’s housing crunch.
In Nantucket, where over half of homes are for seasonal use, workers struggle to find affordable housing
The island is short roughly 892 to 1,081 rental units.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
The state-sanctioned urbicide of Austin
People don’t kill cities. Freeways do.
US to reduce Colorado River water deliveries to Mexico
A new Colorado Treaty amendment reduces Mexico’s Colorado River water allocation by 250,000 acre feet.
LA Metro’s ultimatum: no extra buses for LA28 if federal funding isn’t imminently secured
If Metro does not provide additional buses, LA28 organizers will have to find a new way to manage Olympic traffic. LA28’s budget does not include a line item for transit.
Colorado’s Largest Data Center Could Rise Next to Homes — Without a Public Hearing
The proposed campus would consume 11 times the power of Denver International Airport; as it has across the country, opposition mounts.
5 New England states march closer to 800 megawatt wind energy project
Securing federal approval for the project may be complicated under the Trump administration, which has historically been hostile towards domestic wind power.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
Eagle County Government
Harvard University Graduate School of Design
Nashville Planning Department
The Architects Foundation
University of Cincinnati Online
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello
Journal of the American Planning Association