tax-increment financing
Coverage of tax-increment financing in the Nexus archive.
- As Kansas City Council rushes towards a Royals stadium vote, key questions go unanswered
Kansas City officials are pushing for a vote on a deal to help finance the Royals' proposed $1.9 billion ballpark at Crown Center. Kansas City intends to fund $600 million of the cost, which would require drawing tax revenue through a tax-increment financing deal over 30 years. Concerns remain among some council members and the public regarding limited disclosure on funding sources, community benefits, and public oversight.
- Here’s how the Broncos stadium (and beyond) in Burnham Yard could look
The Denver Broncos have purchased a 58-acre Burnham Yard property for $46 million and released early renderings of a new stadium and five development districts, including green spaces, repurposed rail tracks, and public transit integration. The project requires Denver City Council approval and faces administrative hurdles, including a potential blight designation for tax benefits.
- City panel backs $201.6 million TIF subsidy for Foundry Park
A city agency approved a $201.6 million tax-increment financing (TIF) subsidy for Foundry Park, a $3 billion development on 31 vacant acres along Chicago's North Side. The project, led by JDL Development and Kayne Anderson Real Estate, aims to create over 3,000 homes, 20% of which will be affordable, and 6 acres of open space, including a riverwalk. The subsidy contrasts with the failed Lincoln Yards project, which collapsed due to financial pressures.