In TIF districts, an alternative to up front financial awards traditionally associated with TIF, the City can provide a rebate of property taxes. The developer will pay the taxes and receive an immediate rebate from the City. Developers find this tool especially beneficial over the traditional upfront award because the entire amount of the property taxes are rebated. In upfront situations where the City must finance the cost, the cost of financing (usually 30%) is subtracted from the amount of the award.