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How does the VIEDA determine TIF project eligibility (certification)?

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.