| |
A
pay-as-you-go project is one where the developer assumes all of the
risk by self-financing of the improvements. In these types of projects,
the developer is repaid on a periodic basis when the project generates
increment. A project financed with TIF bonds is generally one where
the costs of public improvements and/or developer reimbursable costs
are financed by the issuance of revenue bonds. The debt is then retired
solely from the tax increment derived from the project. These are
not obligations of the City or County. |
