Complex sentence: One of the ways to take up the slack by lack of federal and state funding is Tax Increment Financing (TIF), which is a public financing method used for redevelopment and community improvement projects for more than 50 years.
Split into simpler sentences: One of the ways to take up the slack by lack of federal and state funding is Tax Increment Financing (TIF). TIF, is a public financing method which has been used for redevelopment and community improvement projects for more than 50 years.