What is the TIFA?

The TIFA is a municipal corporation created by the City of Romulus under Public Act 430 of 1980, as amended, to encourage economic development, neighborhood revitalization and historic preservation in certain development areas in the City. The TIFA is governed by a Board of 13 people appointed by the Mayor and approved by the City Council. The Board members serve 4 year staggered terms.

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1. What is the TIFA?
2. What does the TIFA Do?
3. How does the TIFA pay for its activities?
4. What is tax increment financing?
5. Can the TIFA levy taxes on property?
6. Do property owners in the TIFA pay more in taxes than property owners outside the TIFA?
7. Is the TIFA totally independent from the City?
8. Do other communities use TIFAs? What types of projects have been paid for by TIFAs?