“TIF” stands for Tax Increment Financing. Tax Increment Financing is a tool used by municipalities to reduce or eliminate blighting conditions, foster improvement, and enhance the tax base of every taxing district which extends into the area. Tax Increment Financing provides for redevelopment that would not occur without the support of public investments. This tool allows the City to capture the increase in state and local property and sales taxes that result from a redevelopment which also contributes to the TIF fund. The City is required to prepare a redevelopment plan for each district which identifies uses for the TIF fund.