There are many economic development financing tools available to governmental entities to help provide the resources needed to fund capital improvements. While there are tools that focus on the creation of separate financing districts, in which the primary governmental entity may be involved (See Primer – Special Financing Districts). This primer offers a framework for a number of economic development financing tools which provide alternative funding mechanisms for projects. Many economic development tools provide resources through the abatement or redistribution of tax dollars, potentially impacting other taxing jurisdictions. These tools are generally governed by state statute or local law and as such, close coordination with legal counsel may be necessary.
- Publication date: April 2019