How Carmel has Used TIF to create a world class city and financial sustainability.

As a big fan of redevelopment and city growth its been a real treat to follow along as Mayor Brainard and Carmel do circles around everyone else through their aggressive growth strategy.  Below are 4 quick clips produced by the Carmel Redevelopment Commission to give everyone a quick learn on how they use the TIF program and how it affects the bottom line.  These are quick videos with a ton of simple information that each of us can use as we follow city financing in our own community as well as look for ways to relief some of the burden on homeowners. 

In video 1 they discuss the basics in general numbers and property examples.

 

In video 2 they discuss how they strategically planned to use this tool and how they implemented it in their comprehensive plan.  Not just hoping the right development comes along.

In video 3 they give examples of the success that comes with TIF projects, from multiplying the tax revenue from a single site to spawning a new development that would not have happened otherwise. 

We all want our schools to be funded well and using TIF to increase tax base is what the final video explains.  When you bring in large new assessed values the schools enjoy a windfall and hopefully pulls some of the pressure off the individual homeowners. 

While there are critics for everything its tough to give Carmel a hard time for creating a viable and exciting community that draws in thousands of new residents and businesses each year.  Hopefully this video sheds some light on a very complicated but valuable municipal tool