Title 45
Towns and Cities

Chapter 33.2
Municipal Tax Increment Financing Act

§ 45-33.2-28. Project costs.

Costs authorized for payment from a tax increment district master plan fund established pursuant to § 45-33.2-27 are limited to:

(1) Costs of improvements made within the tax increment district, including, but not limited to:

(i) Capital costs, including, but not limited to:

(A) The acquisition or construction of land, improvements, infrastructure, public ways, parks, buildings, structures, railings, street furniture, signs, landscaping, plantings, benches, trash receptacles, curbs, sidewalks, turnouts, recreational facilities, structured parking, transportation improvements, pedestrian improvements, and other related improvements, fixtures, and equipment for public use;

(B) The acquisition or construction of land, improvements, infrastructure, buildings, structures, including facades and signage, fixtures, and equipment for industrial, commercial, residential, mixed-use or retail use, or transit-oriented development;

(C) The demolition, alteration, remodeling, repair, or reconstruction of existing buildings, structures, and fixtures;

(D) Environmental remediation;

(E) Site preparation and finishing work; and

(F) All fees and expenses associated with the capital cost of such improvements, including, but not limited to, licensing and permitting expenses and planning, engineering, architectural, testing, legal, and accounting expenses;

(ii) Financing costs, including, but not limited to, closing costs, issuance costs, reserve funds, and capitalized interest;

(iii) Real property assembly costs;

(iv) Costs of technical and marketing assistance programs;

(v) Professional service costs, including for municipal staff, which may include but not be limited to, licensing, architectural, planning, engineering, development, and legal expenses;

(vi) Organizational costs relating to the planning and the establishment of the tax increment district, including, but not limited to, the costs of conducting environmental impact and other studies and the costs of informing the public about the creation of tax increment districts and the implementation of the tax increment district master plan; and

(2) Costs of improvements that are made outside the tax increment district but are directly related to or are made necessary by the establishment or operation of the tax increment district, including, but not limited to that portion of the costs reasonably related to the construction, alteration or expansion of any facilities not located within the tax increment district that are required due to improvements or activities within the tax increment district, including, but not limited to, roadways, traffic signalization, easements, sewage treatment plants, water treatment plants or other environmental protection devices, storm or sanitary sewer lines, water lines, electrical lines, improvements to fire stations, and street signs.