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Whatis Taxlncrement?TI F is a financing tool used by local governmentthat 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 improvethe 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 />� <br />� <br />� <br />� <br />4 <br />� <br />W <br />� <br />� <br />TI� �►�se����l ��I�� ���� �v�r ���iect <br />ti 1 � <br />�F�at�-d Temil na't�d <br />2 <br />