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MN
Rochester Tax Increment Financing Development Assistance
Rochester may use TIF to reimburse eligible redevelopment, infrastructure, affordable housing, and business development costs.
About this program
The City of Rochester uses Tax Increment Financing as a development tool to support eligible projects that advance redevelopment, economic development, affordable housing, infrastructure, or other public purposes. TIF assistance may reimburse eligible project costs from captured tax increment when a project meets City policy, statutory requirements, and public benefit standards.
Eligibility
Developers, businesses, property owners, and public-private partners with eligible projects in Rochester may seek TIF consideration through the City.
Requirements
- Project must be located in Rochester and meet Minnesota TIF statutory requirements.
- Project must demonstrate need for public assistance and provide public benefit.
- Applicant must submit required TIF application materials to the City.