Tax increment financing is often referred to as "capture".

Example:

If the "initial" year (same as "base" year) value for the plan = $1,000,000

And the second year, the value = $1,250,000

Then the authority gets to "capture" the property taxes on the increase in value, i.e., the "tax increment", of $250,000. This means the authority gets to keep the property taxes on the $250,000 to pay for the plan projects. The taxing units receive the taxes on the $1,000,000.