Page 259 - GFOA Draft 2

CITY OF SAGINAW
TIRZ FUND
OVERVIEW OF REVENUES AND EXPENDITURES
2022-2023

The TIRZ Fund was created in FY 2022-2023 to better track funds that are received and are to be used for a speci c
purpose. These receipts will remain in the TIRZ Fund until an appropriate expense is approved by the TIRZ Board of
Directors.

The tax increment reinvestment zones are special zones created by City Council to attract new investment in an area.
Certain criteria has to be met for an area to be designated as a reinvestment zone as well. These zones help nance costs
of redevelopment and promote growth in an are that would otherwise not attract development in a timely manner.

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