Illinois Tax Increment Association

#9184847

Wednesday, September 18, 2019, 10 a.m.
Thursday, September 19, 2019, 11 a.m. CDT

Chicago, IL, United States

Overview

Session 1 • The Ethics of TIF – Part VI

 

The panel will focus on the practical, professional and legal ethical issues involved in the tax increment finance process.  We will discuss the frameworks of ethical behavior and techniques for promoting ethical cultures in our organizations and our participation in the decision-making process.  Real world economic development scenarios to be discussed by the panelists will illustrate legal, accounting and planning issues involving the Illinois Rules of Professional Conduct, the AICP Code of Ethics and Professional Conduct, the AICPA Code of Professional Conduct, the Tax Increment Allocation Redevelopment Act, the Illinois Municipal Code, and related statutes concerning property development, as well as exploring State and federal laws as they relate to attorneys, accountants,  municipal planners and municipal officials.  There will be a special emphasis by the attorney presenter to discuss the relevant provisions of the Illinois Rules of Professional Conduct and the accounting and planning presenters to discuss the relevant Codes of Ethics as they may pertain to the decision-making and situations presented and to be discussed with the attendees.

 

 

Session 2 • TIF 201 – A preamble to TIF 301.

 

This session is part 2 in a 3 part series regarding Tax Increment Financing. While TIF 101 covered the fundamentals of creating a TIF district and describing how TIF can be used, TIF 201 will provide a deeper dive into what communities should do once a TIF District is in place. The panel will engage in an interactive discussion of best practices and common pitfalls in TIF deals. Topics include the TIF application process, underwriting, structuring a deal with a developer, developing a term sheet for a redevelopment agreement, and legal terminology for said RDA. Examples from around the state will be discussed, with a local perspective on approaches to these issues from the City of Chicago.

 

Session 3 • Establishing and Enforcing Incentive Policies.

 

Creating a TIF or Business District or other incentive that commits tax revenues to a single development project or development area should be based on community economic development goals and objectives. This session will explore policies that can apply to both providing the incentives and using the financial proceeds.

 

Session 4 • Tax Implications of TIF projects.

 

This session will cover an overview and tax implications of the various bond types, pay-as-you-go monetization option with the benefits of each method to municipalities and developers.

 

Session 5 • TIF Termination and deadlines

 

“Why does the process required to terminate a TIF continue to be a hot topic?  Are the procedures cumbersome?  Apparently, it must be a problem because legislation that has been proposed requiring a designated date be set to terminate a TIF in the original ordinances establishing a TIF.  Could this work?  Let’s discuss!

 

Session 6 • Financing activities in TIF & ILO Opportunity Zones.

 

1.     Discussion of Opportunity Zone investment benefits and requirements

2.     Discussion of current types of Opportunity Zone investments that we’re seeing; locations of those investments generally

3.     Highlighting how state and local governments and community stakeholders have responded to this initiative

4.     Discussion of current best practices for local governments and community stakeholders

 

Resource URL

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Contact Info

Thomas Henderson, thenderson@illinois-tif.com

Activities

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