What costs are eligible for TIF funding?

Some TIF eligible expenses include costs associated with acquisition of property; rehabilitation or renovation of buildings; financing costs, including interest assistance; demolition and site preparation; construction of public works or infrastructure improvements; professional services including architectural, engineering, legal, etc.; TIF administration.

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1. What is a Tax Increment Financing District?
2. What is a "tax increment"?
3. Does TIF result in increased tax rates?
4. What is the “but for” test?
5. How is a TIF district created?
6. What costs are eligible for TIF funding?
7. Who monitors the TIF process?
8. How long is the area designated as a TIF district?
9. Does TIF divert money from schools?
10. What happened during Geneva’s previous TIF district?