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2 TCRP LRD 55 CONTENTS Summary, 3 I. Introduction, 4 A. Background, 4 B. Digest Purpose and Methodology, 5 C. Digest Organization, 5 II. Using Tax Increment Financing for Transit Operations, 5 A. What Is Tax Increment Financing?, 5 B. The Costs of Operating and Maintaining Transit Systems and Service, 6 C. Transitâs Contributions to Land Value, 7 D. How Do Different Transit Technologies Impact Land Value?, 8 E. Isolating the Value of Operational and Capital Investments, 9 III. The Legal Framework Underpinning TIFs, 10 A. State Enabling Legislation: Key TIF Features Across the States, 12 B. Analysis of TIF Case Law, 28 IV. Challenges for Using TIFs to Support Transit, 35 A. Restrictions on Expenditures, 35 B. Revenue Sharing, 37 C. Concerns About Transit-Induced Gentrification and TIFs, 39 Appendix A: Case Studies of TIFs Involving Transit, 40
