Utilizing tax increment financing (TIF), tax abatement and other economic development tools can be complex and controversial. However, they are integral components of financing local public improvements and attracting and encouraging private investment. Local policymakers must weigh the costs and benefits of each potential project. This information, together with the timing and the way it is conveyed, can be critical to public acceptance and support. Assessing the impact of those incentives on other taxing units is essential.
TIF alone may not provide sufficient revenue to support the bonds needed to accomplish all the desired public improvements. TIF can be combined with income taxes and other funding and revenue sources, such as grants, to make the financing feasible. The combined perspectives of local policymakers, legal counsel and the financial advisor contribute to creative, secure financings and successful economic development efforts.
Available services include:
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Creation of TIF Areas |
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Tax Increment (TIF) Feasibility Studies |
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Economic Impact Analysis |
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Development of Incentive Packages |
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Tax Impact Analysis |
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Presentations at Public Meetings |
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Tax Abatement Alternatives |
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Monitoring of Tax Increment Revenues |
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Development of Funding Alternatives |
Representative Economic Development Projects:
Umbaugh has been instrumental in structuring and negotiating incentive packages to attract large industrial and commercial prospects to Indiana communities. Many of these packages were a combination of state and local incentives, including TIF bonds, tax abatement, EDIT bonds (income-tax supported), and utility revenue bonds.
(For additional areas of service to Economic Development, please see Cities, Towns and Counties and Utilities.)
