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Tax Increment Financing (TIF) Policy and Master Plans in Groton, CT

August 3, 2020

Groton ConnecticutThe Challenge

The Town of Groton sought to develop a Tax Increment Financing (TIF) policy and two separate TIF master plans with implementation tools, including one joint master plan for the Town and City of Groton (the City of Groton is a dependent political subdivision of the Town).

The Solution

Camoin Associates had previously worked with the Town of Groton on various economic development initiatives and was hired to develop the TIF policy, a TIF master plan for its downtown area, and a separate joint TIF master plan for both the Town and City of Groton for the waterfront and Five Corners areas.

The Impact

The Town Council approved the TIF policy in 2018 and adopted the two master plans in 2019. The policy is now being used to guide the implementation and development of the projects included in the master plans. View the approved TIF policy and master plans.