TAX INCREMENT FINANCING (TIF) INVESTMENT PROGRAM
The Tax Increment Financing (TIF) Investment Program helps facilitate larger scale catalyst redevelopment projects in the downtown area through the use of tax increment investments. Applications are evaluated by the LDDA Board using an evaluation scoring system. Funding of eligible improvements will be based on a project’s score and available funds. Funding is available to property and business owners through this program for eligible building façade and public improvements. Interested applicants should email the LDDA Executive Director, Kimberlee McKee, for more information.
What is the Tax Increment (TIF) Financing Investment Program?
- The LDDA Board of Directors considers investments in development projects within the LDDA boundary which fulfill its Downtown Master Plan of Development. Proposals are considered on a case-by-case basis and evaluated based on the ability of the project to further the goals of the LDDA.
- Funding is at the discretion of the LDDA Board: satisfaction of the criteria does not guarantee funding will be approved and, if approved, funds must be used on aspects of the project which have a direct community benefit and meets the goals/strategies of the Downtown Longmont Master Plan of Development.
- For its investment, the LDDA is able to secure an interest therein. Funding is typically used to create façade features, public amenities, life and safety issues and/or improvements in the public right-of-way (ROW) that would be infeasible without LDDA funding. See eligible expenses.
TIF Program Overview TIF Application Form