iii. how victoria has used tifbettervictoria.com/.../01/tifc_how-victoriahasusedtif-1.pdf4 iii. how...
Post on 20-Apr-2018
222 Views
Preview:
TRANSCRIPT
4
III. How Victoria has used TIF
Before a TIF plan is implemented, the City is required to enact a Development Plan. Victoria
enacted its development plan that includes the downtown area in 19901. This plan also
included TIF District No. 1. Since that time, five more TIF Districts have been created by
the City. A map showing the TIF districts is provided as Figure 2 and tabulation of included
properties is provided in Table 1 (TIF Plan, 2016).
5
In each case development of the property within the TIF district was heavily subsidized by an
initial infusion of public capital, in most, but not all, cases obtained by issuing municipal
bonds that would be retired over the certified life of the TIF district. Each TIF district is
examined in more detail in the following sections of this report.
top related