Tax increment financing (TIF) is a redevelopment tool used by local governments to underwrite redevelopment project costs that would otherwise make a redevelopment project economically unfeasible. TIF is premised on the theory that by agreeing to underwrite certain redevelopment project costs, local government can attract new private development in a redevelopment area, which will in turn generate the new tax revenues used to retire notes or bonds issued to pay for the redevelopment project costs.
Duties: The Commission is charged with the review and recommendation of Tax Increment Financing proposals and plans.
Meeting Schedule: The TIF Commission meets only when an application has been submitted to the City and public notification requirements have been met in accordance with State Statute.
Term Length: The six members appointed by the Mayor and Board of Aldermen shall serve four (4) year terms with no term limit.
Members: The Tax Increment Financing (TIF) Commission is comprised of eleven (11) members. Six (6) of these eleven (11) members are citizens of Riverside and are appointed by the Mayor after approval from the Board of Aldermen. The remaining five (5) members are representatives of the other "taxing jurisdictions". The current membership roster can be found in this page's supporting documents section.Staff Liaison: Director of Community Development, (816) 741-3993