Examples of Tax Increment Financing District in a sentence
The captured assessed value of the District will be sheltered from the otherwise negative impacts of new development that result in increased county taxes and loss of State aid to education and revenue sharing when new development occurs without the creation of an Affordable Housing Tax Increment Financing District.
The Property is situated within the City of Burlington’s Waterfront Tax Increment Financing District (the “Waterfront TIF District”), within which the City is authorized to invest public funds to construct or acquire infrastructure improvements that facilitate private investment, all in accordance with applicable laws and regulations and following approval by the Vermont Economic Progress Council, by the Burlington City Council and with the support of the voters via a public referendum.
The principal and interest on the bonds are payable primarily from revenues from operations and tax increments resulting from increases in valuation of real property in Tax Increment Financing District 1-3.
However, in all cases, the decisions to create a Tax Increment Financing District and to enter into a developer’s agreement with any applicant are wholly discretionary.
Some criteria are statutory and must be met in order for the City to establish a Tax Increment Financing District.