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Formation of the Mechanism for Risk Management of Construction Projects on the Basis of Compensatory Technology of «Tax Increment Financing»
Pokolenko V. О., Klymchuk M. M., Ilina T. A.

Pokolenko, Vadym О., Klymchuk, Maryna M., and Ilina, Tetiana A. (2019) “Formation of the Mechanism for Risk Management of Construction Projects on the Basis of Compensatory Technology of «Tax Increment Financing».” Business Inform 2:218–223.
https://doi.org/10.32983/2222-4459-2019-2-218-223

Section: Economics of Construction

Article is written in Ukrainian
Downloads/views: 5

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UDC 338.32

Abstract:
The article is aimed at forming a mechanism for risk management of construction projects, to provide researching within its terms of the possibility of attracting additional financial resources through compensatory financing on the basis of deferred tax payments (Tax Increment Financing – TIF). Studying the risk management practices in the field of construction has demonstrated the fragmentary nature of the existing system, but with the appropriate legal framework and in view of the experience of other countries, development of preventive measures can be a source of financial resources for the implementation of construction projects. According to the results of the carried out research on the financial compensatory technology of TIF, the authors present proposals as to the formation of a mechanism for risk management of construction projects, with allocation the following components in its structure: theoretical-methodological, organizational-economic, process-empirical.

Keywords: risk, financing, construction project, management mechanism.

Fig.: 1. Bibl.: 11.

Pokolenko Vadym О. – Doctor of Sciences (Engineering), Professor, Professor, Department of Management in Construction, Kyiv National University of Construction and Architecture (31 Povitrianykh Syl Ave., Kyiv, 03680, Ukraine)
Email: [email protected]
Klymchuk Maryna M. – Doctor of Sciences (Economics), Associate Professor, Professor, Department of Organization and Construction Management, Kyiv National University of Construction and Architecture (31 Povitrianykh Syl Ave., Kyiv, 03680, Ukraine)
Email: [email protected]
Ilina Tetiana A. – Candidate of Sciences (Economics), Head of the Department, Department of Strategic Management, Kyiv National University of Construction and Architecture (31 Povitrianykh Syl Ave., Kyiv, 03680, Ukraine)
Email: [email protected]

List of references in article

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Kulikov, P. M., and Klymchuk, M. M. Upravlinnia enerhozberezhenniam na budivelnykh pidpryiemstvakh: teoriia, metodolohiia, praktyka [Management of energy saving in construction enterprises: theory, methodology, practice]. Ivano-Frankivsk: Foliant, 2017.
Mekhanizm otlozhennykh nalogovykh platezhey kak sposob finansirovaniya infrastrukturnykh proektov: zarubezhnyy opyt [The mechanism of deferred tax payments as a way to finance infrastructure projects: foreign experience]. Moscow: Nauchno-issledovatelskiy finansovyy institut, 2016.
Bland, R. L. A revenue guide local government. Washington, DC: International City Management Association, 1989.
Community Redevelopment Tax Increment Financing Projects Tax Year 2013. Report to the Legislature Nebraska Department of Revenue Property Assessment Division / Ruth A. Sorensen, Property Tax Administrator. March 1, 2014.
Klymchuk, M., Tkachenko, V., and Ivakhnenko, I. “Compensatory financing of energy saving projects in construction: modification of «TIF»“. Research Papers in Economics and Finance, vol. 3, no. 1 (2018): 57-65.
Gilika, A. “Does Tax Increment Financing (TIF) Favor Properties Adjacent to the Development Site?“ Award Winning Economics Papers. 2009. https://core.ac.uk/download/pdf/46720902.pdf
Huddleston, J. R. “Distribution of Development Costs under Tax Increment Financing“. Journal of the American Planning Association, vol. 52, no. 2 (1986): 194-198.
Klemanski, J. S. “Using Tax Increment Financing for Urban Redevelopment Projects“. Economic Development Quarterly, vol. 4, no. 1 (1990): 23-28.
Man, J. Y., and Rosentraub, M. S. “Tax increment financing and its effects on property values“. Public Finance Review, vol. 26, no. 6 (1998): 523-547.
Stinson, Th. F. “Subsidizing local economic development through tax increment financing: costs in nonmetro communities in Southern Minnesota“. Policy Studies Journal, vol. 20, no. 2 (1992): 241-248.

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