PURA, School District 16 Set TIF Revenue Sharing Cap

Thirty Thousand Dollars ($30,000) cap on TIF revenues from District’s Current Mill Levy

FINANCIAL_SERVICES

Up to 25 years from the effective date of the Urban Renewal Plan, or until the $30,000 cap is reached, or earlier termination as provided

Agreement duration is tied to the life of the TIF (maximum 25 years) and ends earlier if the $30,000 cap is reached, the Urban Renewal Plan or its TIF provisions are terminated, or if the District ceases providing services in the TIF Area. The Parties may mutually amend or terminate the agreement in writing and must negotiate amendments in good faith if subsequent legislation materially affects provisions.

Agreement