Frequently Asked Questions on Redevelopment Areas (TIF)

  1. What is Tax Increment Financing?
  2. What is a "Tax Increment"?
  3. How do TIFs improve communities?
  4. Are TIFs widely used?
  5. What communities in Illinois us TIF?
  6. How long has TIF been around?
  7. Why is there a need for Tax Increment Financing?
  8. Does TIF divert money from schools?
  9. What kinds of TIFs are there?
  1. How is a TIF created?
  2. What kind of planning goes into the development of a TIF project area?
  3. What conditions must exist for an area to be designated for TIF?
  4. What are the opportunities for public input?
  5. Who controls TIF funds?
  6. Can TIFs be changed?
  7. Who monitors the TIF process?
  8. When does a TIF terminate?
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