You are a senior financial analyst in a community. The community is considering adopting/effecting the following four strategies: (1) Impact fee requirement for new development, (2) Tax Increment Financing (TIF) for redevelopment, (3) Payment in Lieu of Taxes (PILOT) for non-profit or other entities that do not remit conventional property taxes, and (4) property tax incentives and business income tax credits for businesses moving to/and or expanding in the community.
Write a memo (of about 3-4 pages) to the CFO of this community summarizing best practices for effecting the above four strategies. Be specific and cite the readings in the applied finance class where appropriate. (Single spaced memo.)