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Nov. 13, 2008

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Tax-incremented financing (TIF) is a method to use future gains in taxes to subsidize current improvements, which are projected to create the conditions for said gains.

The completion of a public project often results in an increase in the value of surrounding real estate, which generates additional tax revenue. Sales-tax revenue may also increase, and jobs may be added, although these factors and their multipliers usually do not influence the structure of TIF.

When an increase in site value and private investment generates an increase in tax revenues, it is the "tax increment." Tax Increment Financing dedicates tax increments within a certain defined district to finance the debt that is issued to pay for the project. TIF is often designed to channel funding toward improvements in distressed, underdeveloped, or underutilized parts of a jurisdiction where development might otherwise not occur. TIF creates funding for public or private projects by borrowing against the future increase in these property-tax revenues.

In other words, the businesses and homeowners that benefit from the project pay a higher tax after the project after it's finished.

(Suggest removal) 11/20/12 at 12:42 p.m.

Excellent article, Mr. Brewer. However, one thing you didn't mention is that the franchise owners want to own the new arenas, and to keep 100% of the revenue their events generate, without paying. I know this sounds ridiculous, but anyone following the efforts to build a new arena in Sacramento will tell you that it's true. That's why there isn't an NBA team in Kansas City.

I love the NBA and I would whole-heartedly support any team that moved here, but as long as this is the posture of the NBA and it's billionaire lodge, the City would be best served by staying out of it.

(Suggest removal) 7/15/12 at 9:33 a.m.

What are your biggest recruiting challenges? Are there certain obstacles that are difficult to overcome, such as the conference, budget, or the school itself?

(Suggest removal) 11/13/08 at 11:27 a.m.

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