Tag: Downtown East Washington TIF

Written by Diane Benjamin - editor

Bloomington’s 3 TIFs

By: Diane Benjamin In case you forgot what a TIF is or never knew: Tax Increment Financing is meant to provide money for developers or reimburse government for investments in a blighted area. Money is generated by the increase in property values after the redevelopment. Government gets to keep the increase for 23 years – […]

Written by Diane Benjamin - editor

Bloomington’s other two TIF’s

By:  Diane Benjamin Downtown Southwest 19TIF06402530Downtown_outhwest_1 This TIF was started in 2016. It shows it’s first income of $1,552.  Expenses to date charged to the TIF have produced a negative fund balance of 119,273. Since only $21,713 has been spent according to the report – sidewalks – the negative balance is likely caused by something […]