Summary
The TIF bill will create special zones or parcels of land in the city, where developers could receive upfront financial help with the added costs of building or renovating in neglected neighbourhoods. A TIF zone diverts increased property and education taxes from reassessments on any new additions or redevelopments into a separate account. That money is used to pay for grants to developers for further improvements in the zone.
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Extract
Tories Want Changes in Plan for Renewal Tax
Tory Opposition Leader Hugh McFadyen demanded Wednesday the Doer government put the brakes ...
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