Does the LMI requirement stay the same as when the TIF area was first approved and stated in the original document, or does that fluctuate over the duration of the TIF project?
There are two likely possibilities. We suggest you contact your TIF counsel to determine which they recommend. The first is the LMI % or amount requirement is set when the urban renewal area is first approved. The second is the LMI % or amount requirement is set when the specific TIF project is first approved.
|Program Area|| |
Tax Increment Financing, TIF