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No.
TIF project costs are paid solely from the incremental tax revenues
resulting from the redevelopment, not from the municipality's general
fund. The revenue stream may be used to reimburse the developer on
a "pay-as-you-go" basis or to repay bonds issued by the TIF Commission.
The risk lies with the developer who has invested in the project and
relies upon the repayment through the TIF. |
