COLUMBIA — The following is a list of developments in the life cycle of tax-increment financing, also known as TIF, a public financing method in use nationwide that was first dreamt up by the California state legislature in the early 1950s.
1950s and '60s: California and Minnesota begin to employ TIF programs to encourage development in areas that otherwise would not be economically feasible in the market.
1982: Missouri adopts TIF legislation, Section 99-845 of the Missouri Revised Statutes.
Feb. 1, 2000: North Kansas City adopts Northgate Village TIF project. The plan was adopted to renew pre-existing housing built during the post-World War II boom that comprised roughly one-quarter of the city's residential property, by Assistant City Administrator Michael B. Smith.
November-December 2002: As part of Northgate Village TIF project, North Kansas City demolishes 666 residences and begins construction of mixed-use commercial and retail development. Occupants are granted compensation by the city to relocate.
March 17, 2008: Columbia establishes a volunteer TIF Commission with 11 members: six appointed by the mayor with City Council consent, two by the Columbia School Board, two by the Boone County Commission and one from each of the other taxing entities in the affected district.
July 4, 2009: The Missouri General Assembly passes a law requiring municipalities to report the current status of TIF projects, including the amount of debt and increment collected, in annual reports to the state auditor's office and the Missouri Department of Economic Development. Those not in compliance are not allowed to establish a new district for at least five years.
July 20, 2009: Columbia approves two TIF projects, one for The Tiger Hotel and another for a mixed-use high-rise structure at Tenth and Locust streets.
November 2009: The Tenth and Locust TIF project is called off by the developers, who cited lack of demand for commercial real estate as a consequence of the economic climate.
January 2010: Trittenbach Development, the firm in charge of projects at Tenth and Locust, files another request to the city for the construction of a four-story apartment complex that would not use TIF.
Feb. 21, 2011: Columbia approves its third TIF project for the redevelopment of The Regency hotel at Broadway and Short Street, to coincide with the city's construction of a new parking garage on Short Street.
Aug. 24, 2011: Members of the Columbia Downtown Leadership Council propose a downtown TIF district to specifically target city beautification efforts at the corner of Providence Road and Broadway and the North Village Arts District.
Dec. 29, 2011: California, the first state to institute TIF, ends the practice as a result of funding concerns for public projects with the state Supreme Court's ruling in California Redevelopment Association v. Matosantos.
Feb. 20: At the City Council's pre-meeting, City Manager Mike Matthes presents a general overview of TIF to the council. First Ward Councilman Fred Schmidt discusses placing the entire First Ward into a TIF district to fund infrastructure improvements and to provide infill housing.
Feb. 28 and March 9: Deputy City Manager Tony St. Romaine meets with the Downtown Columbia Leadership Council and the Downtown Community Improvement District to discuss options for further TIF projects and districts to be established in Columbia.
April 2: Matthes makes a TIF presentation to members of the Boone County Commission. Matthes repeats his interest in establishing TIF districts in Columbia and mentions that plans are not final. Southern District Commissioner Karen Miller said she would like to see the program used to build a grocery store downtown.
April 18: Matthes meets with members of the Columbia School Board to pitch increased use of TIF and the potential impact on property tax revenue.