Some Tax Increment Financing (TIF) plans include housing rehabilitation components designed to sustain home ownership, which is instrumental in stabilizing neighborhoods and preserving existing housing stock. TIF housing programs provide financial assistance through self-amortizing loans/grants to qualified single-family homeowners for exterior improvements to residential property. The homeowner is required to maintain residency for a five-year period. Loan/grant funds are written off at a rate of 20 percent per year for the five-year period. Repayment is required for the prorated period if residency requirement is not achieved. Loans/grants may require matching funds, dependent on the applicant’s income.
To date, the following programs have generated a total of $9,031,853 in public and private investment and $3,381,699 in Owners Funds for 1224 units.
- WHIP (Winchester Housing Improvement Program)
- 43rd and Main TIF Plan / S.M.A.R.T Program
- Midtown TIF Plan / R.A.M.P Program
- Southtown /31st and Baltimore TIF Plan B.R.I.T.E
- Kansas City South Core Program / Southtown
- Union Hill TIF Plan / N.I.F. Program
- Chouteau and I-35 TIF Plan / C.H.A.M.P Program
- North Oak TIF Plan / E.N.C.O.R.E Program