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<br />22 <br />4859-6924-4449\6 <br />There are a variety of TIF districts allowed by statute. The following is a brief description and <br />comparison of each: <br />District Type Duration Limit <br />(after receipt of <br />first increment) <br />Geographic Areas <br />That Qualify <br />Permitted Uses of Increments <br />Economic <br />Development <br />8 years No restrictions Manufacturing; Warehousing; <br />R&D facilities; Telemarketing; <br />Tourism in qualifying counties; <br />Commercial developments in <br />small cities; Workforce housing <br />outside seven-county metro area <br />Housing 25 years No restrictions Housing for low- or moderate- <br />income renters or homeowners <br />Hazardous <br />Substance <br />Subdistricts <br />25 years Parcels in a TIF <br />district containing <br />polluted sites and <br />contiguous parcels <br />Site acquisition and cleanup <br />Redevelopment 25 years 70% occupied by <br />buildings, 50% of <br />which are <br />substandard or <br />certain railyards <br />tank facilities <br />Correction of conditions <br />justifying creating district <br />Renewal and <br />Renovation <br />15 years 70% occupied by <br />buildings, 20% of <br />which are <br />substandard and <br />another 30% require <br />renovation <br />Correction of conditions <br />justifying creating district <br />Soils Condition 20 years Site contains <br />pollution and cost of <br />cleanup exceeds <br />lesser of $2/sq. ft. or <br />the fair market value <br />of the land <br />Site acquisition and cleanup <br /> <br />