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194 <br />Super RFP (see Consolidated Request for Proposals) <br />Tax Abatement <br />Reduction of or exemption from tax that is granted by government for a specified period, <br />usually 10encourage investment activities. <br />Tax Base Revitalization Account (see Livable Communities Act) <br />Tax Credit <br />A tax credit reduces an actual tax as opposed to a tax deduction that reduces only taxable <br />income and is therefore subject to the variation in the tax rate. <br />Tax Deduction <br />Any item or expenditure subtracted from gross income to reduce the amount of income <br />subject to tax. A property tax deduction is a common form of this type of tax relief. <br />Tax Exemption <br />Adeduction allowed bylaw toreduce the amount ofincome that would otherwise betaxed. <br />Tax Increment Financing (T|F) <br />Afin8ncing t00| available to |0c8| governments for redevelopment and improvement projects. <br />T|F uses the projected increase in property taxes that a redevelopment will generate to <br />finance the costs ofthe development. <br />Tenant Protection Voucher <br />Congress authorizes tenant protection vouchers to subsidize rents for tenants facing <br />certain kinds of housing conversions not covered by enhanced vouchers (see above). <br />Eligible conversions include the demolition or sale of public housing, foreclosures of HUD - <br />subsidized rnortgageo, agency -initiated terminations ofproject-based Section 8contracto. <br />or, more recently, certain other prepayments. <br />Transit Oriented Development ([OD) <br />TOO is walkable, moderate- to high -density development served by frequent transit that can <br />include a mix of housing, retail, and employment choices designed to allow people to live <br />and work with less 0rn0dependence 0n8personal car. <br />Universal Design <br />Universal design is design practices intended to produce bui|dingo, producto, and <br />environments that are accessible and usable tothe greatest extent feasible regardless <br />of age, ability, or status in life. Often used to refer to building accommodations made for <br />older and disabled peop|e, universal design features might include curb cuts or sidewalk <br />rarnpa, cabinets with pull-out shelves, or placement of countertops at several heights to <br />accommodate different tasks or postures. <br />Appendices <br />