AABP EP Awards 728x90

TIF under review

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Iowa Rep. Tom Sands, chairman of the House Ways and Means Committee, is taking a look at the definition of urban renewal areas and the use of tax increment financing, an economic development tool that is highly prized by municipalities. Among his targets are TIFs that don’t expire and the 35-year time frame for bonds issued to finance the projects in slum and blighted areas, not to mention the various definitions of blight. “Things are in there that have nothing to do with true blight,” he said. As things stand, the bill probably is a topic for conversation. A coalition of municipal officials is expected to find common ground on areas for reform. For now, the Iowa League of Cities is opposed to any changes.