How is TIF assistance calculated and disbursed?
Except in special circumstances, the maximum amount of City assistance that any one project can be awarded under the Streamlined Application, including TIF, is limited to $1.0 million or 25% of the total project cost, whichever is less. TIF assistance awarded to the project under the Streamlined Program will be disbursed on a “pay-as-you-go” basis (annually, with no front funding, TIF note, or TIF bonds issued). TIF funds will be disbursed to the applicant after the project is completed and a Certificate of Completion has been issued by DPD. The specific payout term will be determined and discussed with the applicant on a project-by-project basis.
