Published: November 2, 2020
This material contains general information; it should not be used as a substitute for legal advice. Any attorney general opinions cited in this material are available on request from the League’s Research and Information Service staff.
Learn about the requirements for a city to establish criteria for awarding business subsidies and various development agencies cities may create such as economic development authorities (EDA), housing redevelopment authorities (HRA) and port authorities. Find an overview of state and federally sponsored programs for encouraging economic development and redevelopment, including subsidies and grants, tax increment financing (TIF), bonds, industrial parks, Most economic development tools can be applied to any size city. These tools are interrelated, and a city may use several for one project.