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a. We should not be bankers, nor take <br />investment risks the developers should. So limit <br />financing to "pay as you go" districts. That is, the <br />developer puts up the money up front, and gets repaid <br />only from proceeds of a successful project. If it fails, <br />it's the developer's problem. <br />b. Maximum of 12 years of TIF. After 25 <br />years, it's time to start redevelopment again, and the <br />public never gets any tax benefit from the project. <br />c. Make each project financially feasible, <br />and able to stand on it's own funding plan. <br />d. Treat TIF like a business, and not a slush <br />fund for unkown future uses. <br />3. THE SINGLE BIGGEST EVENT <br />SURROUNDING TIF occurred when Ed Burrell <br />retired as City Finance Director. Based on his <br />conclusion that TIF was to be used only on a pay-as- <br />you-go basis, there was no reason to keep all these <br />old TIF districts open. He closed 11 out of 16 out <br />between 2002 and 2003. He did leave TIF 1 and TIF <br />1 1, still operating, still open. <br />s <br />