What are the benefits of being in a TIF district?
There are several specific benefits of residing in, or owning a business or property in, a TIF district. Redevelopment is one of the most effective ways to encourage private investment in areas that have deteriorated socially, physically, environmentally or economically. Through the focused attention and financial investment that redeveloping a TIF district receives, many positive things happen that would otherwise not occur—negative conditions are reversed, jobs are created, the business climate is revitalized, and the housing stock is increased. As redevelopment projects are completed, neighboring property owners and merchants often improve their buildings and businesses to keep pace with the enhanced quality of the area. As the district recuperates, the area gains a better reputation resulting in increased foot traffic, consumers, and/or residents.

As part of the redevelopment process, developers, property owners, business owners, and residents may be eligible for an improvement incentive or grant program available through the redevelopment agency.

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1. What are the functions of a redevelopment agency?
2. What is a TIF?
3. How does a TIF work?
4. Are property taxes raised to pay for TIF district?
5. What are the benefits of being in a TIF district?
6. What is a redevelopment plan?