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C <br /> <br /> How is TIF collected? <br /> <br /> · An "allocation area" is created by the <br /> Redevelopment Commission establishing a <br /> base assessment date as of the prior March 1 <br /> · Existing assessed value cannot be captured <br /> · Increases in assessed value over the base <br /> value become incremental assessed value <br /> · All property taxes applicable to new real <br /> property and, if qualified, depreciable personal <br /> property assessed value can be captured <br /> <br /> What can TIF be used for? <br /> <br /> · Any capital project that is in, serving or <br /> benefitting an economic development <br /> or redevelopment area <br /> · Utility improvements <br /> · Roads, R.O.W., Drainage, Rail <br /> · Land acquisition / development <br /> · Buildings / equipment <br /> <br /> C <br /> <br /> 3 <br /> <br /> <br />