Common use of Excess TIF Clause in Contracts

Excess TIF. Any excess TIF Tax Revenues resulting from the Tax Increment Provision on the Redeveloper Property not needed or required to pay the TIF Bond Purchaser for the TIF Indebtedness shall be expended by the City on city public improvements in the Project Area or returned to the applicable taxing authorities as provided in the Community Development Law.

Excess TIF. Any excess TIF Tax Revenues resulting from the Tax Increment Provision on the Redeveloper Property not needed or required to pay the TIF Bond Purchaser for the TIF Indebtedness shall be expended by the City on city public improvements in the Project Area or returned to the applicable taxing authorities as provided in the Community Development Law.