Tax Increment Financing (TIF)

Download Council Policy No. 104 regarding Tax Increment Financing.

The City recognizes that the proper use of Tax Increment Financing can promote, stimulate and develop the general and economic welfare of and quality of life in the City. The City is committed to the high quality and balanced growth and development of the community; to preserving the City’s unique character and distinctive atmosphere; and to revitalizing and redeveloping areas of the City.

Although the City does not encourage the practice of subsidizing private businesses with public funds, insofar as the City’s objectives are substantially advanced by the expansion of the tax base and enhancement of the local economy, the City will consider, on a case-by-case basis, the approval of TIF projects where, but for the availability of TIF, such projects would not be economically viable. It is the policy of the City that any decision regarding the approval of TIF projects will be made in accordance with the guidelines, criteria, and procedures outlined in this Policy.

Nothing herein shall imply or suggest that the City be under any obligation to approve a TIF project for any applicant.

For more information on Tax Increment Financing, please contact:
 

Bret Glendening
City Manager
[email protected]
(913) 755-2146 x 101