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NC Cites Using TIF

 

We will list cities that utilize TIF bonds and track their outcomes. Click Here for list of NC Cities and their contact information.

  • Cary (Click Here to contact Cary elected officials)

  1. Cary has been contemplating revitalizing its downtown for years.  With all the hype about using tax increment financing and it being promoted to the         voters as economic development to brings jobs to an area, we are seeing more possible use to revitalize downtowns rather than to stimulate the job base in NC. As an elected official in Cary, it is nice to be pursuing ways to achieve our goals without considering using TIF bonds. Here is a Town of Cary Staff Report that is being considered by the Cary Town Council that will motivate homeowners to renovate, focus on the overall goals, use code enforcement, and not use eminent domain as the shortcut to achieving its goals. Leading by example is how Cary's approach can be viewed. Free market economy is still alive in NC.

  • Chapel Hill (Click Here to contact Chapel Hill elected officials)

  1. Cost of Chapel Hill downtown project grows, by the Chapel Hill News; Matt Dees: "I have no hesitation using it, and I have used it many times over the last 20 years. To me, it's free money. We're just leveraging that free money."
    http://www.chapelhillnews.com/front/story/1815165p-8121743c.html

  2. Downtown plan now includes bonds, by the Daily Tar Heel; Jake Potter: "I think it's a real creative thing the town should look into"
     http://www.dailytarheel.com/vnews/display.v/ART/2004/11/30/41ac725952179

  3. The Chapel Hill Project Scope (this is a pdf): From the developers, SPPE website or click here for a link to their website

  1. Charlotte includes TIF use as part of financing public art Click Here for story by Carolina Journal, Paul Chesser. "Despite their skepticism, city leaders of all political stripes are expected to support funding all of the projects through likely increases in car rental taxes, parking fees uptown, additional fees on tickets to the new facilities, and tax increment financing".

  2. Charlotte could assume role of developer. Click Here for article by Creative Loafing, Tara Servatius. "Using land condemnation authority and millions of dollars in public money from a variety of existing and proposed programs,....." . This article was written before the passage of Amendment One, so the mention of proposed programs is uncertain. There is no specific mention of using TIF for this rail and development project in this article, but what about eminent domain abuse? We will keep track of this process.

  • Clayton (Click Here to contact Clayton elected officials)

    1. Clayton considers revival. Click Here for article, by the N & O, Peggy Lim. "The town may need to create a special tax district ..... Briggs said".

  • Four Oaks (Call (919)-963-3112 to contact Four Oaks Town Hall)

  1. Little town nurtures big dreams: by The News and Observer; Ellen Sung: "Another option may be self-financing construction bonds, which North Carolina voters authorized this month by passing Amendment 1." Click Here for full story.

  • Garner (Call (919)772-4688 to contact Garner Town Hall)

  1. This is not connected to using a TIF, but Garner has announced its intent to revitalize its downtown. Maybe they can lead by example and not use TIF bonds. Click Here for article by the N & O, David Braken: "The recommendation follows the advice of two consultants from the N.C. Downtown Development Association who visited the town in December. The consultants suggested that Garner set up a nonprofit committee to oversee revitalization and hire an employee to seek out grant money and be a liaison to the business community".

  • Gaston (Call (252)537-1047 to contact Gaston Town Hall)

  1. Gaston considers self-financing bonds by News 14 Carolina. "It would not cause a general tax increase to the overall citizens of Gaston County ....." said attorney Jeff Brown. "But opponents say such financing will result in future taxes when the bonds come due, and that means the public doesn't have any say over which projects local governments fund."

  • Greensboro (Click Here to contact Greensboro elected officials)

  1. Governments wait for rules on new bonds, by Mark Binker, News and Record. "The government can then borrow the money to pay for the public improvements without asking voters".

  • Raleigh: (Click Here to contact Raleigh City Council)

  1. Remember when the proponents used the reasoning for why we need Tax Increment Financing? They promoted "Jobs and Progress". Now the Wake County Commissioners and Raleigh City Council are proposing the use of TIF for a project known as "Green Square Project - Natural Research Center.  Click Here to review the proposed funding for various projects in Wake County. It states: "This will specifically include exploring the option of Amendment One self-financing bonds within six months".

 

  • W will list your city here if/when relevant

 

 

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