Minnesota statutes provide for Tax Increment Financing as a basis for local units of government to divert a portion of a development project's tax base to help finance the feasibility of new economic development.  TIF may utilize either the use of bonds or "pay as you go" financing.  The City of Marshall has been an active participant in TIF.

Tax Increment Financing can be used for the following purposes:

1. Land and building acquisition
2. Demolition and clearance
3. Relocation costs
4. Public improvements such as sewer, water, and utilities
5. Soil corrections
6. Site preparation
7. Legal / engineering / administrative costs
8. Bonding and capitalized interest
9. Project contingencies.

For complete information concerning TIF guidelines, contact the City Assessor at 537-6770.

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