New Haven uses tax increment financing as a public finance tool to initiate community improvements. Large-scale mixed-use and commercial projects throughout New Haven would not have been possible without the use of TIF.
TIF is used in New Haven to:
Provide funding for public improvements without increasing the tax levy
Deliver affordably priced housing not provided by the private market
Redevelop sites in a way that increases the tax base and delivers public improvements and benefits that would not otherwise be provided by the private market
Rules for TIF
TIF Districts and use of TIF is governed by Indiana State Law.
The City's use is further restricted by policies established by the City Council and Redevelopment Commission.
Information for Developers
TIFs are monitored closely due to their need to satisfy community development goals and to comply with applicable City policies. If you are a developer and have questions about receiving a TIF, please contact the Community and Economic Development Director, Pone Vongphachanh.