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Summer 2017
 

Top 10 TIF Misconceptions – Creating Additional Project Value and Avoiding Costly Mistakes (Part 2)

By: Scott Ziance

This is final installment of a two-part series covering the top 10 misconceptions associated with Ohio Tax Increment Financing (TIF). TIF is a funding vehicle for public infrastructure and, sometimes, site improvements. Learn more about these misconceptions.


Municipalities Experiencing Growing Pains with GASB 77

By: Christopher Knezevic

The Governmental Accounting Standards Board (GASB) made waves in the economic development community in 2015 when it issued Statement No. 77 (GASB 77). GASB 77 requires governments, for the first time, to disclose in the notes of their financial statements the amount of tax revenues the government has promised to forego through tax abatements. Learn more about the new requirements.


Property Owners in Several Large Ohio Counties Should Prepare for Property Tax Valuation Increases

By: Nicholas Ray

Over the next several months, many Ohio county auditors will complete the required six-year tax appraisal of all properties located in their counties. Learn more about what you can do as a property owner.


Vorys Expands National Economic Development Incentives Practice

Recently, Jonathan Stock and Christopher Knezevic, attorneys with more than 30 years of combined experience, joined the Vorys economic development incentives practice. These additions strengthen an already burgeoning practice. The team has now consulted on economic development incentives issues in more than 30 states across the country.

“Our clients are now calling upon our services throughout the United States. Welcoming Jon and Chris will help us better serve our clients’ needs in closing economic development incentives deals that help them meet their business objectives,” said Scott Ziance, leader of the firm’s tax incentives and economic development practice.

Learn more about Jon and Chris, here.


Around the Web

Messer Co-Authors Bill to Reduce Infrastructure Costs for Local Governments – WRBI40

Foxconn Says it Plans to Build Factory in Wisconsin, Adding 3,000 Jobs – New York Times

New Markets Tax Credit is a Big Deal for Strained Rural American Communities – New Markets Tax Credit Coalition

Success Story: Economic Development Districts: Marking a Half-Century of Paving Paths to Stronger Communities – U.S. Economic Development Administration

Congress Will Rethink Investing in Cities – Next City

PNC Bank Provides $35,000 Grant to Support Development Fund of the Western Reserve’s Akron Community Revitalization Fund - DevelopmentFinanceAuthority.org


 

Contacts

William D.G. Baldwin
513.723.4030
wdbaldwin@vorys.com

Aaron S. Berke
330.208.1017
asberke@vorys.com

Kelly B. Bissinger
202.467.8856
kbbissinger@vorys.com

Christopher J. Clements
614.464.5427
cjclements@vorys.com

Bryan H. Falk
216.479.6124
bhfalk@vorys.com

Nicholas R. House
216.479.6122
nrhouse@vorys.com

Christopher J. Knezevic
614.464.5627
cjknezevic@vorys.com

Joseph B. Mann
614.464.6313
jbmann@vorys.com

Jacinto A. Núñez
330.208.1046
janunez@vorys.com

J. Theodore Smith
614.464.6232
jtsmith@vorys.com

Jonathan K. Stock
614.464.5647
jkstock@vorys.com

Kristin L. Woeste
513.723.4684
klwoeste@vorys.com

Scott J. Ziance
614.464.8287
sjziance@vorys.com


 

 

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This newsletter is for general information purposes and should not be regarded as legal advice. As always, please let us know if you want more information or have questions about how these developments apply to your situation.