An Alphabet of Tools for Projects: TIF

In TIF by EDCKC Staff

EDC administers a variety of tools and programs to help drive economic development across KCMO. This month, we’re looking at one of the many acronyms that represent our programs: Tax Increment Financing (TIF).

Like the LCRA, the TIF Commission accepts project proposals that fit into one of three types of areas as defined by the Missouri TIF Act: blighted, needs conservation, and/or in an economically distressed area. Each project then goes through analyses by a team of reviewers for the best viable outcome. Though the TIF tool is not an abatement, it redirects a portion of new tax dollars created.

One of the most recently approved TIF projects is the Pioneer Plaza. At the Pioneer Plaza site, a former K-mart will be converted to a 48,500 square-foot full-service grocery store at I-435 and Bannister road.

Click here to learn more about TIF and how our team can assist you.