Tax incremental financing is a subsidy whereby a municipality directs property tax revenue towards development. In order to establish a TIF subsidy, an urban renewal district - I.e.: a TIF district - is established. A TIF subsidy typically has a lifespan of twenty to twenty-five years. The idea? Development leads to increased property values within a TIF district. As well as in surrounding neighborhoods. Increasing property values - which lead to an increase in property tax receipts collected by the municipality - offset TIF subsidies....