What is Tax Increment Financing (TIF) and how does it support the vision of the Station Area?
TIF is a way for local governments to invest in specific areas by using future increases in property taxes to fund improvements in those areas. As improvements are made in a defined Tax Increment Area (TIA) and property values increase, the incremental increase in property values is used to finance infrastructure projects or any associated debt. Using this financial instrument will encourage redevelopment and to help the City realize the vision for the Station Area.
For more information, please see the Kirkland NE 85th Street Station Area Tax Increment Project Analysis Report(PDF, 8MB).