FAQs: Frequently Asked Questions
Does the agreement extend the TIF from 20 to 25 years? Was this allowed under the original agreement?
No. TIF, by statute can only be for 20-years for each Project Area.
The TIF on the North Phase began in 2013 and will end in 2033.
The Developer is asking for a new TIF Plan on the South Phase and so the "TIF Clock" on the South Phase would start over in 2016 and then expire in 2036. But regardless of the Council's final decision on the South Phase, this will have no effect on expiration of the clock for the North Phase TIF which will end in 2033.