- TIFs and PILOTs
EDF administers the District’s Tax Increment Financing (TIF) and Payment in Lieu of Taxes (PILOT) financing projects. The TIF and PILOT programs allow the District of Columbia to issue debt to be repaid from future incremental property and sales taxes generated by a development project, with the debt proceeds helping to pay certain development costs.
TIFs are authorized under D.C. Official Code § 2-1217 (the TIF Act) or through new legislation sponsored by the mayor.
The PILOT Act (D.C. Official Code § 1-308.01) has been used in conjunction with development projects located on land owned or formerly owned by the U.S Government, the District of Columbia government, and the Washington-Metropolitan Area Transit Authority. The PILOT Act authorizes the mayor to enter into PILOT agreements for real property that was formerly tax exempt and authorizes the PILOT payments to be pledged toward the repayment of PILOT bonds.
- Guidance for Parties Seeking TIFs
- Active TIFs and PILOTs
- Tax Abatement Financial Analyses
EDF prepares a tax abatement financial analysis (TAFA) for legislation proposing a tax abatement or exemption that is not of general applicability. The Exemptions and Abatements Information Requirements Act of 2011 (D.C. Official Code §47-4701) requires the Office of the Chief Financial Officer (OCFO) to provide Council with an advisory opinion on whether or not the proposed tax abatement or exemption is financially necessary.
- Unified Economic Development Report
The Unified Economic Development Budget Report provides information on how economic development dollars were allocated in the District during the prior fiscal year, aggregated by type of incentive, granting body/agency, and ward. The report was mandated under the Unified Economic Development Budget Transparency and Accountability Act of 2010.