What are the Different Types of TIF Districts?
Redevelopment Districts – The primary purpose of a redevelopment district is to eliminate blighting conditions. Qualifying tax increment expenditures include acquisition of sites containing substandard buildings or improvements, demolishing and removing substandard structures, eliminating hazardous substances, clearing the land, and installing utilities, sidewalks, and parking facilities. Often this is referred to as leveling the playing field, allowing developed cities to compete for development with outlying cities with bare land. Redevelopment districts are intended to conserve the use of existing utilities, roads, and other public infrastructure and to discourage urban sprawlAdditional information may be obtained by clicking here.Economic Development Districts – An economic development district is a short-term district (8 years) that does not meet the requirements of any other type of district, but is in the public interest because it will (i) discourage commerce, industry or manuf
Redevelopment Districts – The primary purpose of a redevelopment district is to eliminate blighting conditions. Qualifying tax increment expenditures include acquisition of sites containing substandard buildings or improvements, demolishing and removing substandard structures, eliminating hazardous substances, clearing the land, and installing utilities, sidewalks, and parking facilities. Often this is referred to as leveling the playing field, allowing developed cities to compete for development with outlying cities with bare land. Redevelopment districts are intended to conserve the use of existing utilities, roads, and other public infrastructure and to discourage urban sprawl Click here to go to the House of Representatives House Research website for additional information. Economic Development Districts – An economic development district is a short-term district (8 years) that does not meet the requirements of any other type of district, but is in the public interest because it wi
