Commuter waits for train on Sound Transit Light Rail platform.

INCENTIVES FOR TOD: TIF and Other Financing Tools

On April 29, 2022, PSRC and ULI Northwest hosted the Incentives for TOD: TIF and Other Financing Tools event. Transit-oriented development (TOD) offers many benefits, yet conventional real estate financial tools and development appraisal methods may not be favorable to TOD due to its mix of uses and lower parking ratios.

John Hempelmann, Cairncross & Hempelmann; Stacey Lewis, Pacifica Law Group; and Nick Bratton, Forterra shared information about financing tools for equitable TOD, including tax increment financing (TIF) a financing tool that local governments use to fund public infrastructure in targeted areas to encourage private development and investment.