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Basics of URL – TIF Financing <br />If a TIF provision is included in the plan, then <br />the year of plan approval is the “base year” <br />Each year thereafter: <br />Revenues that result from current mill levy base <br />x <br />valuation go to various taxing entities <br />Revenues that result from current mill levy new <br />x <br />valuation (from taxable new construction)—i.e., <br />the increment—goes to a special fund of authority <br />and may be used to finance urban renewal <br />projects <br />18 <br />