Can TIF always be used to finance a project?
No, TIF is used only when a “blighted” area or property cannot be redeveloped without public investment and when it meets a public objective, and then only to fill the “gap” between the total project cost and the level of private financing the project can support. In the case of developer reimbursement, the amount of money reimbursed depends on the success of the project, with the developer being reimbursed only if the project creates additional tax revenue for the community.

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1. What is an Urban Renewal Authority?
2. What is the purpose of an Urban Renewal Authority for Avon?
3. What is an Urban Renewal Plan?
4. What is the Main Street Redevelopment Project?
5. What is a Conditions Survey (Blight Study) and why do one?
6. What is Tax Increment Financing (TIF)?
7. Can TIF always be used to finance a project?
8. If an area is described as “blighted” what does that mean?
9. What is the legal definition of a blighted area?
10. Why would I, a property/business owner, want to be included in an urban renewal area?
11. Does being in an urban renewal area affect my property values?
12. Does being in an urban renewal area mean my property will be condemned?
13. Who decides what the final urban renewal plan will look like?
14. If my property is in an urban renewal area, what flexibility do I have to improve it?
15. What is the process for establishing an urban renewal area and advancing and urban renewal plan?