How is CCDC funded?
CCDC’s activities are currently funded through a combination of tax increment financing (TIF), parking system revenue and outside grants. Tax increment financing (called “revenue allocation” in Idaho Code) is a tool used in 49 states that pays for public improvements by capturing the increase in property tax value resulting from those improvements. At the time an urban renewal district is formed, the county assessor establishes the current value for each property in that district. This value is the “base” value. Over time, as redevelopment plans are realized and public and private investments in new development occurs in the district the property values tend to rise. The increase in value over the base is called the “increment” value. The taxes generated by this incremental value are used by the agency to pay for public improvements and other revitalization activities in that district. When the district closes (after up to 24 years) the increment value is added back to the base value o
