To be eligible for TIF, the development sponsor will apply to the VIEDA for certification that the project complies with the requirements for TIF. The application will consist of a preliminary development plan for the project which must meet certain criteria. If the VIEDA certifies the project for final approval by the Legislature following a public hearing, the VIEDA will enter into negotiations with the development sponsor. When a project is certified by the VIEDA, the VIEDA will determine the date to be set for the initial assessed valuation.
