Other Eligibility Criteria:
To be eligible to receive a participate in a Pennsylvania TIF and the guarantee program, a project must meet at a minimum the following criteria:
-The project must be located within a TIF district and must meet all of the requirements imposed by the Tax Act. The project must be located in a blighted area.
-The project may include the cost of publicly-owned infrastructure located outside of the TIF district which directly benefits the project.
- The project must be located on previously utilized property or on undeveloped property that is planned and zoned for development.
-The project must be for the: redevelopment, reuse or revitalization of previously developed land, including previously mined areas; or development of undeveloped land which may be the subject of future development pursuant to any existing comprehensive municipal plan and is zoned for that development at the time of application.
-All applicants must demonstrate that the tax increment to be realized as a result of the TIF project will be sufficient to offset the amount of debt service to be incurred.
-Business or private developers must agree to create a certain number of permanent full-time jobs within the TIF district.