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How tax-increment financing and project-area rules fund redevelopment — and how HTRZs differ
Summary
Webinar presenter Danny Waltz explained tax-increment financing basics, project-area setup under Title 17C, and the special rules for housing transit reinvestment zones, including density and affordable-housing thresholds.
Danny Waltz, director of the Redevelopment Agency of Salt Lake City, explained tax-increment financing (TIF) and the project-area process under Utah’s Community Reinvestment Agency Act (Title 17C). "At the base year...the taxing entities continue to receive" the pre-project amount, Waltz said, describing how only growth above the base year is captured by an agency as tax increment.
Nut graf: Tax increment captures increased property-tax revenue above a project-area base year to finance redevelopment projects; project-area creation requires plans, public hearings, and interlocal…
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