Tirz Agreement

Yes. Money in the fund can be placed temporarily if an agreement is reached with the holders of bonds or tax increase bonds. The 380 agreements must be approved by the city council. It is the administration`s policy to use these agreements to reimburse the private sector for infrastructure investments approved by the city council. In some cases, the city council used TIRZs to conclude 380 agreements. No no. A tax entity that has not established the TIRZ but participates in the zone is not required to pay to the Tax Increase Fund an increase in its taxes after the end date of the settlement, unless the management body of the participating tax unit enters into an agreement with the management body of the city that created the zone. Yes, with the permission of the city.