Delaware Mulls TIFs, Special Development Districts for Localities

Newman, Emily
June 2003
Bond Buyer;6/18/2003, Vol. 344 Issue 31659, p32
Trade Publication
The Delaware General Assembly is considering a substitute bill that would allow local governments for the first time to finance infrastructure and development-related costs through the use of tax increment financing (TIF) and the establishment of special development districts (SDD). The funding for TIF and SDD projects would come from bonds issued by the local government on behalf of the builder, according to senator Robert Venables Sr., the bill's sponsor and chairman of the Senate Bond Bill Committee. The bill would authorize local governments to issue bonds for new infrastructure projects when those developments are subject to higher property taxes than those levied on surrounding developments, and use those higher taxes to repay bonds.


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