Tax Increment Financing (TIF) can be an important tool in helping to finance public infrastructure for new real estate redevelopment projects. Qualifying projects can utilize the difference in the increased amount of property taxes that a new project will generate, to finance bonds, the proceeds of which can be utilized to pay for roads, infrastructure and other qualified expenses. The Kansas procedures can be complicated and require a significant amount of lead time before implementation.
Many of these projects get started, but do not get to the finish line because of political considerations. Our law firm was lead counsel for the developer which completed the TIF project for the redevelopment in the College Hill neighborhood, a large apartment complex and retail district adjacent to the Washburn University campus in Topeka.
We would be pleased to discuss our knowledge and experience with prospective Kansas developers who desire to learn more about utilizing this important tool.