TIF Act definition
Examples of TIF Act in a sentence
The Parties agree that, in accordance with the TIF Act, fifty-percent (50%) of the District Sales Tax Revenues will be captured and paid to the City as Economic Activity Taxes (as defined in the TIF Act) and applied to pay the costs of the Redevelopment Project (as defined in the TIF Act).
To the extent allowable under the TIF Act, the costs of the Offsite Sewer Improvements will be Redevelopment Project Costs to be reimbursed from the Tax Increment Fund.
To the extent allowable under the TIF Act, the costs of the KDOT Project paid by the Developer will be Redevelopment Project Costs to be reimbursed from the Tax Increment Fund.
If the use of tax increment financing is considered, a determination by the City and the Authority, in their sole discretion, that the Development meets the requirements of a “redevelopment district” under Minnesota Statutes, Sections 469.174 through 469.1794, as amended (the “TIF Act”), and specifically, that the Development qualifies as a “redevelopment district” under Section 469.174, subdivision 10 of the TIF Act.
The Board acknowledges that this Compensation Agreement comprises the entirety of compensation for foregone property tax revenue to which the Board may be entitled in connection with the TIF granted pursuant to the TIF Act and the CRA.