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Independence Tax Increment Financing
Independence may use TIF to reimburse eligible redevelopment and public improvement costs for qualifying projects.
About this program
The City of Independence Economic Development Policy identifies Tax Increment Financing as a redevelopment tool for projects that require public participation to proceed and deliver community benefits. Approved TIF plans may reimburse eligible project costs from captured incremental tax revenues for redevelopment, infrastructure, public improvements, site preparation, and related eligible costs.
Eligibility
Businesses, developers, property owners, and public-private partners with qualifying redevelopment projects in Independence may seek TIF assistance through the City's economic development process.
Requirements
- Project must be located in Independence and meet legal requirements for a TIF redevelopment plan or project.
- Applicant must demonstrate the need for public participation and the public benefit of the project.
- Applicant must submit the City's financial incentives application and project worksheet.