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TIF Tools Chart

TAX INCREMENT FINANCING TOOLS COMPARISON CHART

This chart was created by CALED’s Tax Increment Financing Technical Committee to provide a summary of key similarities and differences between Enhanced Infrastructure Financing Districts (EIFDs), Community Revitalization Investment Authorities (CRIAs), and former Redevelopment Agencies (RDAs).  To obtain more information and technical assistance on tax increment financing tools available to California cities and counties, visit www.caled.org.

 

FORMATION

TOPIC RDA EIFD CRIA
Blight Finding Yes No 80% of revitalization area income must be less than 80% statewide median income

Must also meet 3 of 4 tests:

1.      unemployment rate 3% higher than state rate

2.      crime rate 5% higher than state rate

3.      deteriorated/inadequate infrastructure

4.     deteriorated commercial and residential buildings

Urbanization Finding Yes No No
Relationship with RDA ·    EIFD may include former redevelopment project area

·    Successor Agency must have Finding of Completion for RDA project, RDA litigation must be resolved, Controller review must be complete

·    CRIA may include former redevelopment project area

·    Successor Agency must have Finding of Completion for RDA project, RDA litigation must be resolved, Controller review must be complete

Citizen Committee Review Yes- if residential eminent domain allowed No Voter protest hearing
Governing Board Usually same as City Council/County Board that established RDA ·    Governing board is separate public financing authority

·    If one taxing entity: 3 members of entity’s legislative body + 2 public members

·    If multiple taxing entities: majority of members of each entity’s legislative body + 2 public members

·    If one taxing entity: 3 members of entity’s legislative body + 2 public members

·    If multiple taxing entities: majority of members of each entity’s legislative body + 2 public members

Noticed Public Hearing Yes Yes Yes – 3 hearings
Preparation of Plan Yes- Redevelopment Plan Yes- Infrastructure Financing Plan Yes- Community Revitalization and Investment Plan
Public Agency Vote Simple Majority Simple Majority Simple Majority
Voter Approval of Formation No No Yes, if 25 – 50% of voters protest at public hearing
CEQA Yes- EIR Yes (may be covered by CEQA documentation for project) Yes (may be covered

by CEQA documentation for project)

POWERS

TOPIC RDA EIFD CRIA
Infrastructure Financing Yes, if no other reasonable means of financing available Yes, for public capital facilities and projects of communitywide significance Yes
Land Acquisition Yes (may acquire itself or finance acquisition) Yes (finance acquisition only) Yes (may acquire itself or finance acquisition)
Eminent Domain Yes – 12 year limit No Yes – 12 year limit
Land Conveyance Yes No Yes
Environmental Remediation Yes Yes Yes
Affordable Housing Yes Yes Yes
Private Commercial Rehabilitation Yes, for commercial rehabilitation loans and industrial/manufacturing financing Yes, for acquisition, construction or repair of industrial structures Yes
Maintenance, Operations and Services No No No

FINANCING

TOPIC RDA EIFD CRIA
Property Tax Increment Yes- mandatory for all taxing agencies Yes- only for consenting taxing agencies; education districts may not consent Yes- only for consenting taxing agencies; education districts may not consent
Amount of Tax Increment to District All All or portions of consenting agencies’ share as designated in plan All or portions of consenting agencies’ share as designated in plan
Issuance of Tax Allocation Bonds Yes Yes Yes
Vote for Bond Issuance RDA Board- Simple majority IFD Board-simple majority + District Voters- 55% majority Yes – simple majority if between 20-50% protest.
Term Up to 45 years receipt of taxes to repay debt Up to 45 years from issuance of bonds Up to 45 years from district formation
Relationship to RDA Debt Subordinate to RDA enforceable obligations Subordinate to RDA enforceable obligations

SPECIAL REQUIREMENTS

TOPIC RDA EIFD CRIA
Mandatory Expenditure for Affordable Housing Yes-20% of funds No  

Yes-25% of funds

Inclusionary Housing Yes – 15% of privately developed housing, 30% of RDA developed housing Yes – 100% of EIFD financed housing Yes – 15% of privately developed housing, 30% of CRIA developed housing
Replacement Housing Yes Yes Yes
Relocation Yes Yes Yes
Owner Participation Rights Yes No No
Restriction on Assistance to Big Box Stores and Auto Dealers Yes No Yes
Prevailing Wages ·    Required for RDA’s own projects

·    For assistance to other projects, depends on form of assistance

Depends on form of assistance Depends on form of assistance
Tax Sharing Payments to Other Taxing Agencies Yes- Required for 1994-2011 plans, permitted for pre-1994 plans No  

No

Download the TIF Tools Chart.