Critical Public Finance
Insights blog
Fearing A Commercial Real Estate 'Apocalypse'
With more people working remotely, commercial real estate is facing an increasingly dire situation and some real estate professionals say the market is being sharply divided "into haves and have-nots."
Penn Station Redevelopment: Projected Tax Breaks & PILOT Revenues
A report by SCEPA researcher Bridget Fisher and co-author Flávia Leite analyzes New York State’s proposal to redevelop Penn Station using a version of value capture financing.
New in Cities Journal: "Selling TIF"
Tax increment financing (TIF) is a long-standing and popular public financing tool in the U.S., but it’s starting to jump its borders. And while domestic TIF use has had its pitfalls, the U.S. experience can offer lessons learned to municipalities worldwide looking at how best to finance their economic development goals.
Resource Library
The Political Economy of Cities
In a forthcoming book about cities and inequality, SCEPA Senior Fellow Rick McGahey examines how economists think about cities, what they typically leave out, and what this tells us about the future for urban hubs such as New York City.
How Risk Undermines TIF's Self-Financing Premise
Working Paper - TIF’s self-financing rhetoric can be used to shift risk onto taxpayers.
The Cost of NYC's Hudson Yards Redevelopment Project
Rather than being "self-financing," New York's Hudson Yards project cost the city $2.2 billion in costs, largely due to tax breaks provided by the city to incentivize development and standard development risks and costs.
