Tax Increment Financing is a state authorized incentive that cities may use to help pay for infrastructure in blighted and substandard areas. TIF is utilized as a tool to stimulate economic development in the designated blighted and substandard areas. When a property is improved, its assessed property value (APV) increases. This increase results in increased taxes on the property. The City’s Community Development Agency can allow a property owner to invest up to 15 years worth of the tax increase they pay back into improvements needed for their project, this is called Tax Increment Financing.