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Frequently Asked Questions

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What is Tax Increment Financing?
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What is a "Tax Increment"?
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How do TIFs improve communities?
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Are TIFs widely used?
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What communities in Illinois us TIF?
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How Long has TIF been around?
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Why is there a need for Tax Incrment Financing?
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Does TIF divert money from schools?
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How does Tax Increment Financing work?
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What kinds of TIFs are there?
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How is a TIF created?
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What kind of planning goes into the development of a TIF project area?
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What major redevelopment costs are eligible for TIF funding?
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What is the "but for" test?
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What conditions must exist for an area to be designated for TIF?
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What are the opportunities for public input?
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Who controls TIF funds?
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Can TIFs be changed?
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Who monitors the TIF process?
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How much incremental tax revenue has been generated by Tax Increment Financing in Illinois?
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How much private investment has been generated by TIF in Illinois?
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When does a TIF terminate?

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