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
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Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Placer County
Mayors' Institute on City Design
City of Sunnyvale
HUDs Office of Policy Development and Research
Mpact (formerly Rail~Volution)
Cornell University's College of Architecture, Art, and Planning (AAP), the Department of City and Regional Planning (CRP)
Lehigh Valley Planning Commission
City of Portland, ME
Baton Rouge Area Foundation