Tax Increment Financing
TIF or Tax Increment Financing is a widely used economic development tool created to provide a financial incentive to developers and property owners committed to creating more housing and retail opportunities in eligible areas. In 2007, the DC Council enacted the Great Streets Neighborhood Retail Priority Area Resolution of 2007 that authorized Tax Increment Financing within the following Retail Priority Areas:
- Georgia Avenue/7th Street, NW [PDF]
- Martin Luther King Jr Avenue/South Capitol Street [PDF]
- Pennsylvania Avenue, SE [PDF]
- Minnesota Avenue/Bening Road [PDF]
- H Street, NE* [PDF]
Apply for Tax Increment Financing
A TIF district is a mechanism for capturing the future tax benefits of real estate improvements in order to pay for the present cost of those improvements. If you are interested in applying for Tax Increment Financing, then please see the “TIF Application” and contact the Director of the Great Streets Initiative, André Byers.
*Tax Increment Financing is no longer available on H Street. Please see “H Street Retail Priority Grant” on the Grant Opportunities page. Additional H Street Retail Grant rounds will be announced.