Municipal Law: Tax Increment Financing And More
Municipal and local government law covers issues involving towns, cities and villages and their local governments. Our attorneys have extensive knowledge and experience with municipal and local government law, having represented several municipal bodies.
Tax increment financing (TIF) agreements are an area of municipal law that Bruckert, Gruenke & Long is known for. We have assisted various cities, towns and villages with a number of standout
Tax Increment Financing
Tax increment financing (TIF) helps local governments attract private development and new businesses in blighted, decaying and underperforming areas in need of development or redevelopment. TIF makes it possible for local governments to make the improvements they need, like new roads or sewers, and provide incentives to attract new businesses or help existing businesses stay and expand without tapping into general municipal revenues or raising taxes.
TIF calls for local taxing bodies to make a joint investment in the development or redevelopment of an area, with the intent that any short-term gains be reinvested and leveraged so that all the taxing bodies will receive larger financial gains in the future. The funds for this investment do not come from current revenues but from future tax revenues not otherwise expected to occur.
TIF projects may include the redevelopment of substandard, obsolete or vacant buildings; financing general public infrastructure improvements, including streets, sewer and water in declining areas; development of residential housing in areas of need; cleaning up polluted areas; improving the viability of downtown business districts; and rehabilitating historic properties.
How Can We Help?
We are available to advise government representatives as well as private individuals and businesses interacting with local governments bodies. We can help cities and towns establish TIF agreements; likewise, we can help businesses propose or finalize TIF-fueled development plans. Whatever municipal law matter is on your mind, contact a lawyer at Bruckert, Gruenke & Long to learn how we can facilitate your objectives.
With law offices in O’Fallon and New Baden, Illinois, we serve the entire St. Louis Metro East area and beyond. Call 618-589-1152 or 866-901-6137 toll free or email us through this website.