Shoreview Tax Increment Financing
Shoreview is allowed to create Tax Increment Financing Districts for the purpose of redevelopment, economic development, and public infrastructure related to a project. Generally, the costs for development or redevelopment are fronted utilizing pay-as-you- go financing; once complete, the development is then reimbursed from the difference in property tax values between the original value of the property and the value after the project is completed. Projects must meet the “but for” test and align with the city’s Business Subsidy Policy, including specific hiring and wage goals.
Contact Tom Simonson
Tom Simonson Assistant City Manager/ Community Development Director City of Shoreview P: 651-490-4612 E: tsimonson@shoreviewmn.gov
Locations
Shoreview
Category
Grants and Financing
Redevelopment
Coverage Map
