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Interfund Loans (IFL)• Loans from other City funds to a TIF district to pay expenses prior to TIF being generated• Required to cover any capital costs and/or administrative costs• City can charge maximum IFL rate allowable at the time of the loan• Has ranged from 4% to 8%• IFL rate is currently 5%• TIF 3-5 (Silver Lake Village) has three (3) outstanding IFLsObligationsAmount Paid to DateObligation Outstanding$400,500 IFL from Chandler305,968$                          646,850$            $630,000 IFL from Apache Cub352,692$                          630,000$            $1,000,000 IFL From  Water Filtration555,704$                          959,326$            16