Tax Increment Financing = Windfall for Wall Street. Again.

The legislation, pushed by the CLC, will permit the trading of development rights between rural areas and cities in King, Pierce. and Snohomish counties, something that is already allowed, albeit not frequently done. More significantly, the new law will also let the cities finance infrastructure for new residents in development-rights-receiving areas by issuing bonds against the anticipated rise in property taxes.

via crosscut.com