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