After 2015 law revision, more CT municipalities use tax increment financing to spur new development
A new version of an old economic development tool — tax increment financing — is gaining traction among municipal leaders and developers who say it carries little risk and great reward, with several Greater Hartford projects serving as proof of its potential. Tax increment financing, commonly referred to as TIF, is a development finance tool that uses new or incremental tax revenue generated by a completed project to repay the costs incurred to fund it.
Source: hartfordbusiness.com
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