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Building Blocks of TIF <br />TIF District "captures" increased value from new development <br />Development occurs = New Tax Capacity <br />Original Tax Capacity <br />TIF = <br />Captured Tax <br />Capacity x Local <br />Tax Rate <br />EHLERS <br />How TIF is Calculated <br />• Calculated as a whole for a district, NOT parcel <br />by parcel <br />• If current value is less than base value, then NO <br />TIF is generated <br />• If current value is more than base value, then TIF <br />IS generated <br />■ But only if there is enough overall positive value <br />increase in the district as a whole <br />• COR TIF district has not generated TIF to date <br />and will not generate any in 2014 <br />✓ So 26 -year clock has not started on the district <br />EHLERS <br />1/16/2014 <br />3 <br />