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Why would a local government consider designating a Tax Increment Financing (TIF) district? Discuss in 3-5...

Why would a local government consider designating a Tax Increment Financing (TIF) district? Discuss in 3-5 sentences.

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Answer #1

A local government would consider designating a tax increment financing district because of the following reasons :

  • They help in finance development in an area or on a project site
  • They help to pay for infrastructure improvements inbred area such as streets, sewers, parking lots etc
  • With TIF local governments can help to encourage more developmentb,create jobs or increase the tax
  • TIF helps to acquire land, pay for planning expenses, demolishing and building new buildings in a district
  • They also directly subsidize private development expenses.
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