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Housing and Economic Development <br />developed cities in the Metropolitan Area. Thus, the only source of revenue available to <br />accomplish the scope of redevelopment necessary is the value created by the <br />redevelopment itself, or the "increment." Without the use of the increment, development <br />will either not occur or is unlikely to be optimal. <br />Metro Cities urges the Legislature to: <br />• Not adopt any statutory language that would further constrain or directly or <br />indirectly reduce the effectiveness of TIF; <br />• Not adopt any statutory language that would allow a county, school district or <br />special taxing district to opt out of a TIF district; <br />• Incorporate the Soils Correction District criteria into the Redevelopment <br />District criteria so that a Redevelopment District can be comprised of blighted <br />and contaminated parcels in addition to railroad property; <br />• Expand the flexibility of TIF to support a broader range of redevelopment <br />projects; <br />• Increase the ability to pool increments from other districts to support projects; <br />• Continue to monitor the impacts of tax reform on TIF districts and if warranted <br />provide cities with additional authority to pay for possible TIF shortfalls; <br />• Allow for the creation of transit zones and transit related TIF districts in order <br />to shape development and related improvements around transit stations but not <br />require the use of TIF districts to fund the construction or maintenance of the <br />public transit line itself unless a local community chooses to do so; <br />• Allow TIF eligibility expansion to innovative technological products, recognizing <br />that not only physical items create economic value; <br />• Support changes to TIF law that will facilitate the development of "regional <br />projects"; <br />• Shift TIF redevelopment policy away from a focus on "blight" and <br />"substandard" to "functionally obsolete" or a focus on long range planning for a <br />particular community, reduction in green house gases or other criteria more <br />relevant to current needs; <br />• Encourage DEED to do an extensive cost -benefit analysis related to <br />redevelopment, including an analysis of the various funding mechanisms, and an <br />analysis of where the cost burden falls with each of the options compared to the <br />distribution of the benefits of the redevelopment project; <br />2016 Legislative Policies 31 <br />