What doesn't a TIF district do?

The creation of the TIF district doesn't limit the budgets or taxing authority of other taxing bodies, grant the Village new authority to issue bonds, decrease tax revenues from current levels in the TIF District for other taxing bodies, or change the Village's obligation for public meetings, budgeting, and auditing of financial records.

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1. What is a TIF District?
2. Why do we need a TIF?
3. What does a TIF district do?
4. What doesn't a TIF district do?
5. How big is the TIF district?