A District Improvement Financing (DIF) Program enables a municipality to identify and capture an anticipated stream of local property tax revenues expected to be generated by new development in a designated district. New investment on a private property raises the assessed value, increasing the amount of tax revenue collected.
Through DIF, a percentage of the new tax revenues are captured and directed to pay the costs of public projects that attract and sustain the private investment, creating the virtuous cycle.
The Downtown Hyannis District Improvement Financing Program was approved by Town Council on October 24, 2024. This 25-year program will capture 50% of the new growth generated in the area in the first 10 years, followed by 25% of the new growth generated in the remaining 15 years.
This program will fund projects in the following categories:
- Public infrastructure improvements (sidewalks, water infrastructure, broadband, etc.)
- Placemaking/beautification projects (upgrades to public spaces, streetlights, etc.)
- Storefront improvement grants for existing small businesses
- Arts and culture projects
- Program administration
Downtown Hyannis District Improvement Financing Program Resources:
- Downtown Hyannis District Improvement Financing (DIF) Master Plan
- Hyannis DIF Map
- Town Council DIF Discussion and Vote Video (10/24/24)
- PowerPoint Presentation to Town Council (10/10/24)
- Consultant PowerPoint Presentation (6/11/24)
- Barnstable DIF Public Information Session Video – Part II (6/11/24)
- Barnstable DIF Public Information Session Video – Introduction (3/27/24)
