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The TIF Agreement provides a property tax exemption for each land owner of between 0 and 100% of the taxes attributable to the increment in new value resulting from the proposed new development. The TIF zone proposed in the TIF plan shall also meet the criteria set forth for the designation of an EOA. The TIF project shall be designated for a specified number of years, which shall be not less than 5 years and not more than 20 years or the number of years remaining on the project EOA, whichever is less.
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