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<br />What is Tax Increment? TI F is a financing tool used by local government that provides <br />a portion of the taxes generated from the "new" development to pay for the <br />extraordinary costs of that "new" development. The original objective outlined in the <br />Minnesota TIF law is to provide employment opportunities, to improve the tax base and <br />to improve the general economy of the State. In a TIF financing project, the property <br />taxes (existing and new) are paid by the developer. For the new taxes (increment) the <br />City controls where the dollars are spent and determines which public costs are eligible <br />for reimbursement. <br /> <br />TIFAssessed Value (AV) Over Project <br /> <br />$ <br /> <br /> <br />!\. <br />~0~ <br />0\O~ <br />'00-4 <br />\"(o~ <br />~'" <br />.::,00- <br />~0"a' <br />\ '(\ c; <br /> <br />:;- <br />~ <br />CI> <br />= <br />ro <br />> <br />"'0 <br />CI> <br />V> <br />V> <br />CI> <br />V> <br />V> <br /><( <br /> <br />25 year TIF <br /> <br />Terminated <br /> <br />2 <br />