Community Reinvestment Area Tax Abatement

The Community Reinvestment Area (CRA) Commercial Abatement program offers a partial property tax abatement to companies and developers building or renovating a residential, commercial, industrial, or mixed-use facility in cases where the new or renovated facilities will result in job creation.

Commercial-CRA-Application

Applicant’s Guide to City Business

SBE Utilization Plan

Balanced Development Application

CRA Commercial Flyer 2022

VTICA Policy

Tax Increment Financing

Developers making a large-scale investment that requires substantial public improvements may be able to use tax increment financing (TIF) to offset a portion of those costs. The city has 35 tax increment districts and in some cases will create a TIF specific to a project.

Real Estate Financing Gap or Property Sale Assistance

Developers may request general real estate assistance that is outside of a CRA, JCTC, or TIF incentive structure. This assistance request may include the purchase of city property or a request for city gap financing.

Anthony CadleDivision Manager
Economic Development Division
Bob BertschDivision Manager
Neighborhood Division
Roy HackworthDivision Manager
Housing Division