I anticipate discussing the role of tax increment financing (TIF) as a public-private partnership strategy. TIF is a municipal financing tool which has been used effectively to redevelop brownfields and other under-utilized urban real estate assets throughout the nation. My first exposure to TIF was in connection with a proposed public-private partnership for a mixed-use development project in downtown Hartford. In recent years, I was part of a team that ICSC assembled to lobby for the revision of New York State’s cumbersome tax increment financing statute to make it more development-friendly. As a result of a collective agreement by the Cuomo Administration and both houses of the State Legislature in 2012, the State enacted changes to its TIF provisions to facilitate its use by municipalities, counties and IDAs to issue bonds to support brownfields redevelopment and infrastructure projects. The provisions are still a work-in-progress, but the State’s municipalities and counties now have an additional tool to support redevelopment and finance infrastructure projects such as parking garages and environmental remediation.
I look forward to a productive discussion and sharing my insights regarding brownfields financing and TIF for shopping center projects completed in San Diego and Los Angeles, as well as more recent mixed-use and industrial project proposals I have worked on in Texas and Westchester and Orange Counties in New York State. The panel discussion will be held at 10:00 am on Monday, May 23rd. For registration information, visit www.icsc.org.