Tax Increment Financing
Jump to navigation
Jump to search
Tax Increment Financing ("TIF") is a financing method by a local government to subsidize small businesses for redevelopment and improvement projects in community.
An article on Wikipedia has information about Tax Increment Financing in areas beyond Albemarle County's borders. |
Local use
This section is a stub. You can help cvillepedia by expanding it. |
In 2010, Charlottesville City Council used the TIF to draw a county business into the city. Since the end of 2010, Architect Bill Atwood has been developing the multiple-use Waterhouse project (ongoing as of May 2011). Atwood collaborated with the City officials to attract businesses into the new building by providing tax incentives and financial supports. One business is Worldstrides, which has maintained its base in Albemarle County, considers relocating itself to Waterhouse with the financial incentives by the City.
References
- Web. City panned for using funds to lure firm from Albemarle, Rachana Dixit, Daily Progress, Lee Enterprises, July 31 2010, retrieved May 9 2011.
- Web. Using tax incentive, WorldStrides moving from county to city, Rachana Dixit, Daily Progress, Lee Enterprises, August 31 2010, retrieved May 9 2011.
- Web. TIFS: a Template for Development in the 2010s, Kenneth E. Powell, Washington Times, Media General, April 22, 2011, retrieved May 9, 2011.