What it is: An incentive to bring business to a community that might move elsewhere.
What it pays for: Public infrastructure needed for a development - sewer, water, utilities and streets.
How it works
1. City urban renewal agency declares an area eligible for tax-increment assistance.
2. Developer submits project proposal. Urban renewal agancy authorizes sale of bonds.
3. Developer or city builds streets, sidewalks and other infrastructure. Bonds sold to private investors. xxxx “Tax-increment financing put to Post Falls voters.”