City officials are on the lookout for a new location for the MAPS 3 convention center.
tif
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Oklahoma City’s school board wants to better understand the tax increment financing (TIF) process, especially as the city considers expanding it.
Oklahoma City’s school board wants to better understand the tax increment financing (TIF) process, especially as the city considers expanding it.
Posted inNews
Oklahoma City’s school board wants to better understand the tax increment financing (TIF) process, especially as the city considers expanding it.
Oklahoma City’s school board wants to better understand the tax increment financing (TIF) process, especially as the city considers expanding it.
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Council meeting: Urban renewal discussion continues, stadium updates
The Oklahoma City council returned to a weekly meeting scheduleTuesday and discussed the recent creation of a new urban renewal district in northeast Oklahoma City.
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TIF love
While the city’s use of sales tax revenue through MAPS has gained the most attention over the past decade, the city has also turned to tax increment financing (TIF) as another way to leverage tax dollars into economic development. By creating a TIF district, the city provides public incentives to developers with the increase in […]
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Council offers tax incentives for two facilities
The Oklahoma City Council voted Tuesday to offer tax incentives to General Electric and Baker Hughes for new facilities expected to create hundreds of high-paying jobs. Baker Hughes will receive $850,000 and General Electric will receive $1 million, assuming each company meets job creation expectations. The council voted unanimously to approve the incentives, but Ward […]
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Metro briefs
Sales tax collections dip Oklahoma City’s combined sales tax collections were 5 percent below target for the year in March. “The thing that has had the biggest impact [in declining sales tax] is income levels are down a bit in the metro area,” said Doug Dowler, the city’s budget director. A response with major spending […]
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Public help, private growth
Brent Bryant, OKC’s economic development program manager, said the public financing is being used as an incentive to bring more growth to the downtown area. “We’re turning the lights back on in three historic buildings,” he said. “The $12 million in TIF money is creating right at $88 million in additional investments. This will put […]
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All about TIF
Cathy O\’Connor Credit: Mark Hancock The Oklahoma City Council last week approved a $25 million budget increase for Tax Increment Finance (TIF) 2. Cathy O’Connor, president of the Alliance for Economic Development, told council members that TIF 2 has exceeded expectations, reflecting the quick pace and sizable impact of downtown development. Authorized in the state […]