Meals & Rental taxes go to the State.
A portion is redistributed locally, but I believe that is based on population of each municipality... not where the tax was collected.
The TIF only works if the property within the tax increment zone increases in value more than it naturally would without investment - which is always hard to place a hard number on.
I would use a Special Assessment District, and allow the property owners in that district to voice support or opposition.
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