The City of New Britain is working to revitalize its downtown as a place for people to live and work. The city has been working to implement its downtown redevelopment plan and the downtown area and continues to implement projects from its streetscape plan. To help its downtown revitalization efforts, the city decided to establish a tax increment financing district under the state’s new TIF legislation and turned to the team of Camoin Associates and Pullman & Comley to prepare the Master Plan.
The Camoin team guided the establishment of TIF district boundary, preparing financing projections of various district boundaries and TIF scenarios, identifying city projects to fund with TIF revenues, and setting guidelines for when and how the City will enter into Credit Enhancement Agreements (CEAs) with private property owners and developers to incentivize private investment.
- TIF District Boundary Analysis
- TIF Scenario Modeling
- Revenue Projections
- Credit Enhancement Agreement Policy
In May 2017, the Common Council of New Britain approved the creation of the New Britain Downtown Tax Increment Financing District based on the TIF policy developed by Camoin Associates. The TIF District will encompass about 278 acres in downtown New Britain.