TIF Development in CT
ULI Boston/New England’s Connecticut Steering Committee presents a discussion on the newest tax increment finance (TIF) law in Connecticut.
TIF legislation has been a useful tool to promote redevelopment in many states. This hasn’t been the case in Connecticut where a patchwork of provisions has made TIF difficult to implement. However, the General Assembly passed a tax increment finance law in 2015 which overhauled Connecticut’s development statutes. This opens new opportunities for developers and towns to collaborate on projects that meet both public and private objectives.
This program will focus on how developers and communities might use TIF as part of the capital requirements for development projects. Our panel will provide an overview of the new law, examine how TIF was successfully used in the First Town Square project, and show how public and private developers can use TIF to fund new projects.
- Michael Andreana – Attorney, Pullman and Comley
- Jim Burke – Economic Development Director, Town of Windsor
- Kent Schwendy – President and CEO, Corporation for Independent Living (CIL)
More about the panel:
Michael J. Andreana practices in the areas of tax-exempt financing, public-private development projects and tax credit transactions. Mike has counseled government entities with respect to the creation and use of Special Tax and Special Assessment Districts to issue debt for public infrastructure improvements and was the principal drafter of Public Act No. 15-57, Connecticut’s new TIF financing statute. Mike also represents developers, governmental agencies and other participants in various tax credit transactions, including Historic Tax Credits, New Market Tax Credits and Low Income Housing Tax Credits. Mike’s services include helping his clients navigate the numerous Tax Code intricacies that typically arise in a tax credit transaction. In addition, Mike serves as bond counsel to the Connecticut Health and Educational Facilities Authority, the Material Innovations and Recycling Authority and several Connecticut municipalities. He also provides tax advice and guidance to the firm’s clients that issue tax-exempt debt. In addition, he has represented underwriters, borrowers and letter of credit providers in connection with the issuance of general obligation and revenue bonds. Mike also has experience negotiating contracts between governmental agencies and private operators and developers.
Jim Burke is Economic Development Director for the Town of Windsor, Connecticut. He leads Windsor’s economic and community development activities including business retention and recruitment, small business assistance, redevelopment, housing rehab and neighborhood development. He is the primary liaison between the town and its business and development partners. Jim has spent over 25 years in the field of community and economic development. Prior to joining Windsor in 2000, he was Director of Community and Economic Development for Dubuque, Iowa. In that capacity, he managed city planning, code enforcement, housing, historic preservation, neighborhood development and public health activities as well as economic development. Prior to Dubuque, he served as planner for Deerfield, Illinois, a Chicago suburb. Jim received his bachelor’s and master’s degrees in political science and urban studies, respectively, from Loyola University of Chicago. He is a member of the American Institute of Certified Planners (AICP). He is also on the Connecticut Steering Committee for ULI Boston/New England.
Kent Schwendy is the President and Chief Executive Officer of the Corporation for Independent Living (CIL). CIL is a nonprofit real estate development parent company with more than twenty specialized nonprofit and for profit subsidiary corporations. Throughout his career he has focused on the creation of walkable, livable, and sustainable communities in a balanced and holistic fashion with design that accommodates functional requirements without impacting the aesthetic vision. His expertise includes real estate development, site design, mobility planning, and green infrastructure. CIL strives to create and sustain communities where everyone is not only allowed, but welcomed. Kent is a graduate of Rensselaer Polytechnic Institute with a B.S. in Civil Engineering and is a licensed Professional Engineer in several states. He is an Accredited Member of the Congress for the New Urbanism, a LEED Accredited Professional, and a Certified Construction Specifier. Prior to joining CIL, he was a partner at Fuss & O’Neill, Inc. Consulting Engineers, a combat engineering officer in the U.S. Air Force, and a utility engineer for the State of New York.
11:30 AM – 12:00 PM Registration
12:00 PM – 1:30 PM Program and Networking
This event is eligible for 1.5 AICP CM credits.
Register online by February 9, 2016. All registration fees increase by $15 after February 9.
|Registration Fees||Members||Non Members|
|Private Sector||$ 45||$ 60|
|Public Sector||$ 35||$ 50|
|Young Leader (under 35)||$ 30||$ 40|
|Student (full-time)||$ 20||$ 30|
Thank you to our Program Sponsor: