A Study on Tax Increment Financing Based on the Analysis of PILOT Financing in the United States -Focusing on Hudson Yards Development in NYC-

미국 PILOT 재원조달방식의 분석을 통한 세입담보금융의 연구 -뉴욕시 허드슨 야드 개발의 적용사례를 중심으로-

  • 이우형 (남서울대학교 건축학과)
  • Received : 2013.08.22
  • Accepted : 2013.09.06
  • Published : 2013.09.30


Recently, there are increased importance on introducing Tax Incremental Financing as a means of project financing for urban regeneration. Values of implementing this financing method based on future revenue has to be considered not just as self-financing methods but as possibilities building virtuous circular structure in urban developments. In respond to domestic problems in developments led by private sector, it reinforces public sector's roles by providing finance from the beginning of development. This provides concomitant structural & institutional supports for increasing not only social values for the public but also revenues for private developers. Therefore, this study starts with theoretical background study on TIF as well-known example, then analyzes PILOT used on Hudson Yard Development in NYC as an unique example sharing identical structural & conceptual characteristics. With these process, the study deducts suggestive implications on Tax Incremental Financing possibly reflected on domestic situation.


PILOT;TIF;Urban Regeneration


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