Ancel Glink’s Quorum Forum Podcast has released a new episode, Episode 105: Anatomy of a Redevelopment Agreement (Part 2).
In this episode, we return to the Southland Development Authority’s “TIF
Talk” training series for a deep dive into the financial and practical
implementation of economic development deals. Hosted by the Village of Hazel
Crest, this session features Ancel Glink’s
David Silverman, Michio Murakishi (Meech Group),
and Terri Cox
(Matanky Realty Group).
Building on the structural overview provided in Quorum Forum
97: Anatomy of a Redevelopment Agreement, the panel explores
how municipalities can use RDAs to bridge financial gaps and ensure projects
are feasible for developers while protecting the public interest.
Highlights:
- The Math of
Incentives: Understanding Internal Rate of Return
(IRR), yield on cost, and how consultants use gap analysis to size incentives. - The “But
For” Test: A look at the legal and financial
necessity of incentives, and the idea that a project would not happen “but for”
the public assistance. - Net Public
Benefit: How to measure the “dividend” of a public investment
through tax base growth, job creation, and revitalized storefronts. - Case Studies
from the Trenches: Terri Cox shares lessons from the Bishop
Classic project in Chicago and a $5 million car wash development on Dixie
Highway in Harvey. - Performance-Based
Protections: The importance of clawback provisions,
reimbursement schedules, and why the public sector should generally avoid being
a landlord.
