Financing for Real Estate Projects
Tax increment financing (TIF) is a real estate redevelopment tool applicable to industrial, commercial, and residential projects. TIF uses the anticipated increases in real estate tax revenues to reimburse the developer for qualified costs or retire bonds sold to finance qualified redevelopment costs. Qualified costs may include: public improvements, site preparation, parking facilities, landscaping and decorative amenities, and land acquisition costs. Buildings or other structures owned or leased by a developer do not qualify.