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City of Centerville 12/5/2018 <br /> EDA Meeting <br /> I ,��i���� <br /> • Acquire land/property <br /> • Enter into contracts and loans (revolving loan and grant <br /> programs) <br /> • Enter into limited partnerships <br /> • Finance, construct, and operate public facilities (parking <br /> facilities, community centers, city halls) <br /> • Establish TIF districts <br /> • Issue debt to finance projects or activities <br /> • Collect tax levies (EDA levy 0.01813%ofTMV, and HRA Levy <br /> ofTMV) <br /> • TIF law is complex and has changed over the years <br /> and continues to change <br /> • Tax increment is generated by the increased property <br /> value that is created when a property is developed <br /> • Taxes attributed to the increased value are used to <br /> facilitate development, redevelopment, or qualified <br /> housing over the life of a TIF district <br /> • Different types of TIF districts authorized by statute <br /> Aill, <br /> a� <br /> 41 2 <br />