The tiff over TIF

Proponents of tax increment financing say the tool has contributed to Sidney’s nearly tripled valuation over the past 20 years. Others are skeptical about its benefits.

TIF is designed to finance the public costs associated with private development projects. It uses the expected future increase in property taxes that result from higher valuations after a project is finished to repay public costs associated with the project. Under the current law, TIF can only be used on land with a blighted or substandard designation and can only be utilized if the project would not be feasible without it.

“It...