Tax Increment Grants
Tax Increment Grants (TIG) are reimbursed ad valorem property taxes awarded to projects that advance economic growth and the city’s land use goals.
Grant applicants must demonstrate a but-for need for the funding, and the project’s benefit to the general public. Generally, public benefits include, but are not limited to, upgrades to water and sewer lines, new roads streetscape infrastructure and public parking decks. Tax Increment Grants are provided on a reimbursement basis only and are only reimbursed once the entire project is complete.
A TIG may also provide gap funding for developments that achieve city goals and objectives, such as affordable and workforce housing, and job creation, but would not be financially feasible without assistance from the city.