A new paper, published recently by the Institute for Municipal Finance and Governance, explores whether tax increment financing (TIF) should be used to help fund large infrastructure projects. Drawing on the Sheppard East subway extension in Toronto, the paper finds that TIF would have only covered a small faction of the construction costs. Ultimately it argues that TIF is more appropriate for projects that are under a few hundred million dollars, and that it should always be complemented with other revenue sources. Read the full paper here.