following:

  1. Acquire, hold, clear, grade or otherwise prepare land for community improvement;

  2. Construct, repair, rehabilitate or improve buildings on land acquired or held by it in conformity with the community improvement plan;

  3. Sell, lease, or otherwise dispose of any land and buildings acquired or held by it in conformity with the community improvement plan; and

  4. Make grants or loans in conformity with the CIP to the registered owners, assessed owners or assignees to pay for eligible costs.

A CIP may prove to be a useful tool for supporting the construction of new affordable housing units because it will allow the City to:

Tax Increment Financing Grants (TIF)

Although branded and structured a little differently in each CIP, one of the most useful and sought after grant programs that is included in all of the City’s current CIPs is the Tax Increment Financing Grants. Generally, this program provides an annual grant equal to 100% of the increase in municipal portion of property taxes for between five and ten years depending on the CIP, and criteria of the program. The amount of the