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Law firm briefs Baltimore Village on TIFs and NCAs as tools for development
Summary
A representative from Bricker Gray & Wyatt explained how tax-increment financing and new community authorities work, including public-hearing requirements, school/county consent thresholds and opt-in provisions for property owners.
The Baltimore Village council heard a detailed presentation on tax-increment financing (TIF) and new community authorities (NCA) from Andrew of the law firm Bricker Gray & Wyatt, who explained how the two tools can be used to attract development and finance public infrastructure.
Andrew told council that a parcel or incentive-district TIF redirects the property-tax increment above a base year value into a TIF fund that can reimburse public infrastructure costs or secure bonds. He…
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