3/6/2018
Tax Increment Financing Presentation
Presented By:
Tim Cummins
Director of Economic Development
_ City of Nashua
Sarah Marchant
Director of Community Development
City of Nashua
What Is TIF...
+ Established In the 1970s in N.H.
* RSA 162-K Enabling Statute
+ Captures all property tax revenues generated by new development
within a TIF district to fund projects (capital/operating costs)
* Please Memo
Overview of the General Concept
How It works....
TIF Assessed Vaiue (AV) Over Project Life
Assessed Value (AV)
Hypothetical An Exaggerated Example
* “Original” or Base value = $3,000,000
* Post Project Value = $50,000,000
* Increment or “Captured Value” = $47,000,000
* Tax revenue on $3,000,000 “Original” value = $60,000 (s20 x Rate)
* Tax revenue on increment = $940,000
* $60,000 to General Fund
* $940,000 to Captured In the “TIF”
Nashua Riverfront
Tax Increment Finance District
Revoleprent Promcam & Financing Plan
esr 2018
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