Examples of TIF District in a sentence
The described PROPERTY is located in City of Xxxxxx T.I.F. District No. 9 and is intended to be used by the DEVELOPER as part of an overall development project in the City of Xxxxxx.
Pursuant to the provisions of the Project Plan and the TIF Act, including, but not limited to, Section 12-1775(a) of the TIF Act, all real property located within the TIF District is subject to assessment for annual Real Property Taxes.
For a period of twenty (20) years from the approval of the Project Plan, the UG shall collect Incremental Real Property Taxes as set forth below, unless the TIF District shall be earlier terminated pursuant to the express terms of this Agreement.
The TIF District is an “economic development district” within the meaning of Minnesota Statutes Section 469.174, Subdivision 12, and was created, adopted and approved in accordance with the terms of the Tax Increment Act, Minnesota Statutes Sections 469.174 through 469.1794.
The City anticipates that the TIF District will remain in existence for eight years, which is the maximum duration allowed by law pursuant to Minnesota Statutes Section 469.176, Subdivision 1b.