What does a TIF district do?

A TIF district acts as an economic development tool to encourage revitalization and redevelopment within an area lagging in economic vitality. In a TIF district, the incremental growth in tax revenues based on improvements that grow a TIF District's EAV is directed solely to the TIF District. TIFs require a formal budget and annual audits to track expenditures and activity, which helps ensure that received funds are utilized to improve the district.

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1. What is a TIF District?
2. Why do we need a TIF?
3. What does a TIF district do?
4. What doesn't a TIF district do?
5. How big is the TIF district?