Tax Increment Financing for Neighbourhood Redevelopment
A case study of Tax Increment Financing for Neighbourhood Redevelopment Planning in Winnipeg
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In an effort to revitalize inner city neighbourhoods and create demand for housing, the City and the Province are investing in the rehabilitation of inner city neighbourhoods. The West Broadway is one of such neighbourhoods with privileged location in a strategic area which can assimilate higher demand for new smaller household in future. (TIF) for community development financing, which can be made available for financially unfeasible renovation, alteration, maintenance and reconstruction for the purpose of revitalization of the area. The book investigates the financial feasibility of return i...
In an effort to revitalize inner city neighbourhoods and create demand for housing, the City and the Province are investing in the rehabilitation of inner city neighbourhoods. The West Broadway is one of such neighbourhoods with privileged location in a strategic area which can assimilate higher demand for new smaller household in future. (TIF) for community development financing, which can be made available for financially unfeasible renovation, alteration, maintenance and reconstruction for the purpose of revitalization of the area. The book investigates the financial feasibility of return in the form of property taxes to the City and to the Province using TIF. The study reveals that the returns in the form of incremental education and municipal taxes from and after the investment are not sufficient for economic feasibility, however, a project life of at least ten years is feasible. The financial feasibility, albeit depends on certain conditions. Based on the study, some vital conclusions were drawn and recommendations for the adoption of TIF for the West Broadway are made for instituting a self financed TIF district for the neighbourhood.
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