The purpose of tax increment financing districts is to provide revenues for improvements that serve the district and related costs, which will stimulate development or redevelopment within the district, provide for employment opportunities, improve and broaden the tax base, or enhance the general economic vitality of the municipality, the region, or the State. (Added 1985, No. 87; amended 2005, No. 184 (Adj. Sess.), § 2b; 2007, No. 190 (Adj. Sess.), § 55, eff. June 6, 2008.)