Tax Increment Financing (TIF) districts can be created as a means to finance eligible public infrastructure and related improvements in connection with private development. The purpose of designating TIF districts is to provide another tool for local governments to finance eligible public infrastructure and related improvements benefiting certain commercial and retail projects and the general public so as to generate economic development investments which will promote the creation and maintenance of jobs for the citizens of the County, improve the quality of life in the County and enhance County revenues beyond the debt service requirements.
Under the TIF process, special obligation debt may be issued by the County to provide funding for the eligible public infrastructure and related improvements benefiting the TIF district.
In order to assure that TIF financing for a project will accomplish its stated benefits, the MCEDA will evaluate an application to establish a TIF district utilizing these guidelines prior to any required action of the County’s governing body pursuant to the Tax Increment Financing Act.
Please submit completed applications or questions to mceda@madisoncountyeda.com