Vermont § 1891 - Definitions As used in this subchapter:

§ 1891. Definitions As used in this subchapter:

• (1) “Municipality” means a city, town, or incorporated village. (2) “District” or “TIF” means a tax increment financing district. (3) “Legislative body” means the mayor and alderboard, the city council, the selectboard,
  and the president and trustees of an incorporated village, as appropriate. (4) “Improvements” means the installation, new construction, or reconstruction of infrastructure
  that will serve a public purpose and fulfill the purpose of tax increment financing
  districts as stated in section 1893 of this subchapter, including utilities, transportation,
  public facilities and amenities, land and property acquisition and demolition, and
  site preparation. “Improvements” also means the funding of debt service interest payments
  for a period of up to two years, beginning on the date on which the first debt is
  incurred. (5) “Original taxable value” means the total valuation as determined in accordance with
  32 V.S.A. chapter 129 of all taxable real property located within the tax increment
  financing district as of the creation date as set forth in section 1892 of this subchapter,
  provided that no parcel within the district shall be divided or bisected by the district
  boundary. (6) “Related costs” means expenses incurred and paid by the municipality, exclusive of
  the actual cost of constructing and financing improvements, that are directly related
  to the creation and implementation of the tax increment financing district, including
  reimbursement of sums previously advanced by the municipality for those purposes.
  Related costs may include direct municipal expenses such as departmental or personnel
  costs related to creating or administering the district to the extent they are paid
  from the tax increment realized from municipal and not education taxes and using only
  that portion of the municipal increment above the required percentage in servicing
  the debt as determined in accordance with subsection 1894