I’m a big fan of TIF, Tax-Increment Financing. I have been since brownfields redevelopment came to the forefront over 10 years ago. Most of the new TIF concepts came out of this browfield era.
Roger Valdez, writing for CrossCut.com, provides the most detailed explanation I've seen of why Washington State one of the last states to deploy this powerful economic development tool. See his April 9, 2012 story, “The ongoing tiff over TIFF.” It's a good read.