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DS-1. Tax Increment Financing (A) <br />The <br />cities. <br />that <br />Tax increment finance has permitted many cities in various parts of the <br />state to define and carry out rehabilitation, redevelopment, housing, and <br />economic development projects on their own initiative. It represents the most <br />feasible and effective legal strategy which is currently available to cities to <br />preserve and improve their physical and economic environment. <br />In view of the dramatic reductions in federal sssistanc^ for development <br />and housing, tax increment finance remains one of the few options available for <br />cities to promote growth and developmen� in their cities. <br />The League oppoaes volume limits or penalities for municipal use of tax <br />increment finance. Should the Legislature decided that particular tax increment <br />financa practices should he modified, those practices should be dealt with <br />through specific proposals rather than the establishment of a volume limitation. <br />-3- <br />