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Okaloosa County BOCC — January 8, 2013 — Chesser TIF Presentation — reading text
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TAX INCREMENT FINANCING
TIF IS THE DESIGNATION OF AN AREA IN
WHICH PRIVATE DEVELOPMENT CANNOT
MOVE FORWARD BECAUSE OF INADEQUATE
INFRASTRUCTURE
Tax Increment Financing 2
THE TIF AREA MUST BE ONE IN WHICH
PRIVATE INVESTMENT WILL BE MADE, IF
THERE IS ADEQUATE PUBLIC INVESTMENT TO
SUPPORT IT.
Tax Increment Financing 3
THE PUBLIC INVESTMENT MUST BE MADE
FIRST
Tax Increment Financing 4
IF THE PUBLIC INVESTMENT IS NOT MADE,
PRIVATE INVESTMENT WILL NOT BE MADE, OR
IF IT IS, THE QUALITY AND SPEED WITH
WHICH PRIVATE INVESTMENT OCCURS WILL
BE VASTLY DIFFERENT
Tax Increment Financing 5
WITHOUT UP-FRONT COMMITMENT TO PUBLIC
INVESTMENT, PRIVATE INVESTMENT WILL BE
SLOW, OF LESSER QUALITY, AND WILL MAKE
WHATEVER PUBLIC INVESTMENT IS
EVENTUALLY MADE, FAR MORE EXPENSIVE.
Tax Increment Financing 6
TAX INCREMENT FINANCING WILL NOT COST
THE COUNTY AND CITY TAX REVENUE IF DONE
PROPERLY
Tax Increment Financing 7
TIF WILL ONLY WORK IN NORTH OKALOOSA
COUNTY IF THE COUNTY AND CITY
COORDINATE THEIR EFFORTS.
Tax Increment Financing 8
IF TIF IS A GOOD IDEA STANDING ALONE, IT IS
AN EVEN BETTER IDEA IF OTHER SOURCES OF
REVENUE ARE ADDED.
THE TEAM
MIKE CHESSER
ELLIOT KAMPERT
ERIC DAVIS
DR. ROD LEWIS