Section 870-RICR-30-00-6.8 - Designation of a Qualifying TIF AreaA. The Corporation may designate areas within one or more contiguous municipalities that meet the necessary criteria to become a Qualifying TIF Area.B. The Qualifying TIF Area for a Qualified Development Project shall be no greater than the Project Area for said project, unless:1. the Qualified Development Project includes the development of infrastructure or utilities to serve areas beyond the boundaries of the Project Area, in which case the Applicant may request that the proposed Qualifying TIF Area include, in addition to the Project Area, such additional real estate contiguous to the Project Area as will be directly or indirectly benefitted by the development of such infrastructure or utilities; or2. the Applicant can demonstrate, to the satisfaction of the Corporation in its discretion, that the Qualified Development project will directly result in the generation of Incremental Revenue beyond the boundaries of the Project Area and can propose, provide justification for, and identify an administrable method, as determined in the sole discretion of the Corporation, for determining the portion or percentage (not greater than 75%) of the Incremental Revenue generated beyond the boundaries of the Project Area as a result of the project, in which case the Applicant may request that the proposed Qualifying TIF Area include additional real estate contiguous to the Project Area.870 R.I. Code R. 870-RICR-30-00-6.8
Amended effective 12/19/2018