What is a TIF?

TIF is an abbreviation for “Tax Increment Financing” which is authorized under the South Carolina State Statutes. It captures the increase in property values as a result of redevelopment and new development of an area to fund specific projects within that area.  County and Municipal Governments throughout the State have used TIFs with great success.   Dorchester County’s Oakbrook TIF is one recent example of this financing instrument being used to make significant improvements to our community.   

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1. What is a TIF?
2. Why was the Midtown TIF created?
3. Did the Town hold any public meetings to discuss the Midtown TIF and were there any public presentations or hearings on the matter?
4. How does the Town's Redevelopment plan define a 'blighted area' within the context of the Midtown TIF Redevelopment Project?
5. Has the Town's credit rating been impacted by the TIF?
6. Can I review the Midtown TIF map that is currently available?
7. Can you provide a Midtown TIF map that indicates the *PROPOSED* exclusion of 500 N. Main Street?
8. Can I review the ordinance that authorizes the issuance of Midtown TIF bonds?
9. Can I review the ordinance adopting the Midtown TIF and Redevelopment Plan Agreements?