What are the benefits of a TIF to the neighborhood?

The benefits of a residential TIF program can include:

  • Remove & prevent blighted homes
  • Increase the tax base
  • Stabilize development
  • Aid in the development of affordable housing
  • Assist in converting renter-occupied to owner-occupied homes
  • Add infrastructure enhancements
  • Conduct marketing activities

Show All Answers

1. What is a Tax Increment Financing (TIF) District?
2. How does the Tax Increment Finance (TIF) program work?
3. What are some of the approved costs for a private homeowner or developer?
4. Can the municipality also use the money generated in a TIF District?
5. What are the benefits of a TIF to the neighborhood?
6. Why did the City of Carbondale develop a residential TIF?
7. If my home or neighborhood becomes part of a TIF District, does this mean that businesses will be able to relocate there?
8. How can I find out if my property is within a TIF district?
9. What are the TIF Architectural Design Standards and how do they affect my project?