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CHAPTER 13 - ECONOMIC DEVELOPMENT AND SPECIAL PROGRAMS <br />TABLE 13.01 — 2: TIF District Types: applicable limits and characteristics <br />Rules that apply to districts for which the request for certification was made after July 1, 2000. Note <br />that different duration limits may apply to districts created prior to 07/01/2000. <br />District Type <br />Economic <br />Development <br />Duration <br />limit <br />(after receipt <br />of first <br />increment) <br />8 years <br />Housing 25 years <br />Hazardous 25 years <br />Substance <br />Subdistricts <br />Redevelopment 25 years <br />Renewal and 15 years <br />Renovation <br />Soils Condition 20 years <br />Compact 25 years <br />Development <br />District <br />Geographic Areas that <br />Qualify <br />No restrictions <br />No restrictions <br />Parcels in a TIF district <br />containing polluted sites and <br />contiguous parcels <br />- 70% occupied by buildings, <br />50% of which are substandard <br />or <br />- certain railyards <br />- tank facilities <br />70% occupied by buildings, <br />20% of which are substandard <br />and another 30% require <br />renovation <br />Site contains pollution and <br />cost of cleanup exceeds <br />lesser of $2/sq. Ft. Or the fair <br />market value of the land <br />70% occupied by buildings <br />classified as 3a (C/I), <br />renovation <br />Permitted Uses of <br />Increments <br />- Manufacturing <br />- Warehousing <br />- R&D facilities <br />- Telemarketing <br />- Tourism in qualifying <br />counties <br />- Commercial <br />developments in small <br />cities <br />Housing for low- or <br />moderate -income <br />renters or <br />homeowners <br />Site acquisition and <br />cleanup <br />Correction of <br />conditions justifying <br />creating district <br />Correction of <br />conditions justifying <br />creating district <br />Site acquisition and <br />cleanup <br />Correction of <br />conditions justifying <br />creating district <br />Number of <br />districts and <br />% of total <br />(2008)* <br />454 <br />22.41% <br />545 <br />26.90% <br />26 <br />920 <br />45.41% <br />25 <br />1.23% <br />20 <br />.99% <br />N/A <br />TAX INCREMENT FINANCING 13.01 - 9 <br />REVISION DATE: NOVEMBER, 2010 <br />