Deep Dive on TIFs & PILOTs 

 

Tax Increment Financing (TIF) and Payment-in-Lieu-of-Tax (PILOT) are two of the most common economic development public financing tools used in Tennessee.  Tax Increment Financing is a public financing method used to promote redevelopment, infrastructure and other community improvement projects based on the property tax increment within a designated TIF District. Payment-in-Lieu-of-Tax (PILOT) is also a popular public financing method used to promote new development where a payment in lieu of tax is made ta a government entity to compensate for some or all of the property tax revenue lost.

The Deep Dive on TIFs & PILOTs TCED Program elective will enable participants to learn step-by-step processes for these two key economic development financing tools.  Cast studies and group projects will allow for a fun, interactive session that will promote a better overall understanding of the mechanics of TIFs and PILOTs.

This elective is one of a series of economic development courses provided by the University of Tennessee Center for Industrial Services designed to share best practices and trends with Tennessee’s economic development practitioners, private industry leaders and elected officials.

Date and Location:

Next course will be in 2020.

Course Agenda:

2019 Deep Dive on TIFs & PILOTs Agenda

Course Fee:

Early Registration: $195
Regular Registration: $245
The registration fee covers course materials, instruction, selected meals and refreshment breaks. It does not cover hotel and other travel expenses. Registration is limited to 35 participants and is filled on a first-come, first-served basis.

Course Times:

TBD

How to Register:

Register Now

If you need assistance accessing your account, please contact Carol Jones, 615-253-6371 Carol.Jones@tennessee.edu

You may also register by submitting a Course Registration Form by email. 

Cancellation and Refund Policy:

Payment must reach our office two weeks prior to the class. No refunds or credits will be issued for cancellations one week or less prior to the first date of class, but credit may be applied towards another UTCIS course.

Scholarships:

A limited number of scholarships are available to course participants from Tennessee. Applications for scholarships can be downloaded here Scholarship Application.

Scholarships cover $270 of the $345 course tuition cost, and do not include hotel, travel or meals. Scholarship recipients will be required to pay $75 of the tuition cost, which will not be refundable should the participant withdraw from the course. Applications must be received by August 1, 2018 to be considered for a scholarship.

Dress Code:

The attire for the course is business casual.

Other TCED Economic Development Courses:

VIEW OTHER TCED ECONOMIC DEVELOPMENT COURSES

 

Instructor

Mark Mamantov has developed one of the leading financing and real estate practices in Tennessee, with a special emphasis in public finance. Having practiced in the public finance area for nearly 30 years, Mark has served as bond counsel for more than $3 billion of debt issues and has built a reputation nationally for his experience in tax-exempt finance and economic incentives. His public finance experience encompasses a broad spectrum of financings, including traditional government financing and conduit financing for charitable institutions, low-income housing and manufacturing facilities. As a result, Mark has had the opportunity to work on many of Tennessee's largest bond financings, including public projects such as convention centers, stadiums and arenas; hospital system financings; and public utility system financings.

Having worked on public finance transactions in more than 70% of the counties in Tennessee, Mark's public finance practice specifically involves:

  • General Obligation Debt – Represents counties, cities and special school districts across the state in connection with the issuance of general obligation debt for governmental projects.
  • Governmental Revenue Debt – Represents municipal utilities and utility districts in Tennessee in connection with the issuance of revenue bonds, including financings for electric, gas, water, wastewater, cable and fiber optic systems, gas prepayment financings and airport financings.
  • Health Care – Serves as bond counsel, underwriter's counsel and lender's counsel for a number of non-profit health care providers in Tennessee, including hospitals, continuing care facilities and other health care related activities.
  • Education – Serves as bond counsel and/or lender's counsel for many non-profit colleges and secondary educational institutions.
  • Low-Income Housing – Serves as bond counsel in the financing of low-income housing, having worked on at least such 30 financings.
  • Manufacturing – Serves as bond counsel for the issuance of small-issue industrial development bonds for manufacturing projects.

 

As an adjunct to his public finance practice, Mark has also developed a robust economic incentives practice. In that area, Mark has closed numerous property tax abatement transactions throughout Tennessee, representing both local governments and private parties. Mark has also assisted a number of local governments in developing tax abatement policies and procedures. Additionally, Mark has closed a large number of tax increment financing transactions to support redevelopment, retail and other projects and has worked with many housing and redevelopment authorities and industrial development boards across the State on such financings. Mark frequently represents the governmental issuers of the tax increment financing in these transactions, but also has represented developers and other private parties.

In connection with his economic incentive practice, Mark has had the opportunity to draft or assist in drafting much of the key state legislation in this area. Specifically, Mark drafted the legislation that first authorized the use of tax increment financing through the industrial development board, and much of the legislation that modernized Tennessee's statutes relating to tax increment financing by housing and redevelopment authorities and the use of special assessment districts. Mark has also drafted economic incentive legislation relating to allocation of state and local sales tax revenues.

Mark is a frequent speaker on the topics of public finance and economic incentives and is an active participant at seminars sponsored by the National Association of Bond Lawyers ("NABL"). He has served as chair for all three of NABL's annual seminars, including the Bond Attorneys' Workshop.

In addition to his public finance practice, Mark maintains an active practice representing financial institutions in all types of commercial loans, including large syndicated credit facilities. He is particularly active in East Tennessee, having represented a majority of the national and regional banks with a presence in the area.

Mark frequently represents buyers, sellers, landlords and tenants in real estate matters, assisting with large real estate developments as developer's counsel and representing franchisees and financial institutions in connection with the acquisition and development of locations across East Tennessee. He also serves as local counsel on real estate and financing transactions involving out-of-state entities.