Real Estate Financial Assistancebrowersm2022-09-09T11:34:42-04:00
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.
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.