| Title |
A Study on the Use of Tax Increment Financing for Activating Urban Renewal Projects |
| Keywords |
도심재개발 ; 도시정비사업 ; 재원조달 ; TIF(조세담보금융) ; 시행사례 ; 재활성화 Urban redevelopment ; Urban Renewal Project ; Financing ; Tax Inctement Financing ; Case Study ; Revitalization |
| Abstract |
This study is intended to prepare the theoretical base to introduce TIF(Tax Increment Financing), which is useful, effective tool for local governments to finance capital projects and justified as a local method of self-financing redevelopment of blighted urban areas, under the premise that public participation and public financing method is needed to activate redevelopment project. In this study, the following is discussed : firstly, fundamental concept on TIF, its process, the basic TIF financing structure, etc. are discussed in detail, and next, through the case study of Chicago Central Loop TIF, how TIF was used to redevelop the blighted urban areas is analysed. It is suggested that TIF can be effectively used to redevelop the urban areas which was deteriorating through lack of profit. Lastly, some preconditions such as reorganization of tax system, local bonds issuing system and adoption of TIF law, etc. are discussed in the view of introducing TIF method into Korea. As a result, we expect TIF could be an effective method for revitalizing urban areas if used actively. |