Tulsa Development Authority

Brady Village Tax Increment District #1 – Established 1993 (expires 2008)
The plan created an Arts & Entertainment District. Now in its 12th year an increment of approximately $1,025,000 has been appropriated to the Brady Village District consisting of both sales tax and ad valorem
increments. Property and sales tax within the District declined until 1998 and are now moving upward. Since then, construction of the new Williams Communications building and renovations of the Tribune Building and Cain’s Ballroom (both of which are listed on the National Register of Historic Places) represent private investment of more than $10 million. In 2005, Wallace Engineering purchased and rehabilitated a turn-of-the-century warehouse investing more than $2.5 million as headquarters for their office. A North Main streetscaping total of over 60,000 total square feet has been added; over 35 residential units and more than 200 new jobs have been added within this district.

Public projects completed to date include on-street parking improvements as well as Identity Lighting and streetscaping. A TIF-funded Fire Suppression Vault Installation assistance program for adaptive reuse projects is also available in the form of a grant for private development. These features will enhance the entertainment venues. Future planned improvements include signage, security and additional on and off-street parking. The district is schedule to expire in 2008.

Central Park Tax Increment District #2 – Established 1994 (expires 2009)
Created in conjunction with the downtown Home Depot, funds from the District constructed streetscaping adjacent to the Home Depot site. Incremental sales and property tax revenues to date total approximately $7.2 million. Property values (excluding the Home Depot) declined until 2002 with the development of the Village at Central Park. Increment funds have been used for acquisition and relocation costs, and site preparation for this Village at Central Park
new urban style residential project that is privately producing 100 new townhouses at 6th and Peoria.

Private reinvestment in the area totals more than $40 million with new professional services, a European-style boutique hotel, and the expansion of service agencies. Family and Children’s Services recently completed construction of a new 35,000 square foot building and the Fire Alarm Building (listed on the National Register of Historic Places) project is implementing a privately funded $6 million renovation project that now houses the American Lung Association. To date, approximately 150 new jobs have been created within this district.

Of the total revenues received, funds totaling $2.4 million were used to reconstruct the community center in Centennial Park in conjunction with a $3 million city-funded, award-winning storm water detention project. This is the first Public Works project designed to address recurrent flooding within the area and is expected to improve prospects for further private development ventures. This district will expire in 2009.

Technology Tax Increment District #3 – Established 1999 (expires 2014)
The Technology District plan was created to provide public infrastructure for high-tech corporate headquarters in downtown Tulsa in order to support business expansions. Due to the economy, tax increments are nearly 40% behind projections. However, private investment in the district exceeds $90 million. The Jazz Hall of Fame recently
purchased the former Union Depot, located in the district, at a cost of $2.2 million using Vision 2025 funds. It will be refurbished to include offices, a performance hall and classrooms.

A $10 million public project conducted by Tulsa Parking Authority is completed with the construction of a new parking structure to accommodate approximately 1000 vehicles. Streetscaping is set to begin as a connecting route for pedestrians between the technology complex and the downtown bus station combining TIF funds with federal transportation money. In addition, increment funds have been used for the repair and construction of parking garages and other public amenities totaling $4 million. No net new jobs have been created at this time. The district is scheduled to expire in 2014.

North Peoria Avenue Increment District #4 – Established 2002 (expires 2017)
Created effective July 2002 this district, Tulsa’s largest and the first completely outside the CBD, will help to fulfill a decades-long planning effort to promote commercial, residential and industrial redevelopment. Private development is slightly behind schedule due to the economy; however, Albertson’s invested $8 million and now operates their new 58,000 square foot grocery store, which opened in April of 2003 with 55 employees. Five other retailers now occupy the outparcels. Brainerd Chemical, located on a redeveloped Brownfield site within the District, completed a $1 million renovation of an existing structure and now employs 22 people in that 33,000 square foot facility.

The reconstruction of Tulsa’s premier high school, Booker T. Washington, was completed in the Fall 2003. Approximately $600,000 in TIF-funded improvements to enhance the campus are completed. Improvements to Lacy Park, a city owned recreational facility are being made including a new playground and improvements to the tennis courts. A citizen-user driven master plan for Lacy Park is also being funded through these revenues. This district will expire in 2017.

Blue Dome Tax Increment District #5 – Est. July 2003
This district encompasses nine square blocks within the northeast quadrant of the CBD. The area features eight buildings with a high level of both architectural and/or historical significance, including the "Blue Dome" building, a 1920s era Gulf Oil station and the old Santa Fe Historic Blue Dome. Numerous early 20th century buildings, many vacant or underutilized, contribute to the character of the district now experiencing renewed interest and additional plans for redevelopment. Increased property and sales tax revenues, currently totaling $163,000, are being used to enhance the safety and security of the area in the form of Fire Suppression Vault Installation assistance program and streetscaping that includes sidewalks, alleyways, lighting, benches, landscaping and parking improvements. Streetscaping installation used an advance from the 1985 Sales Tax Economic Development Funds to be repaid from the District. The district is scheduled to expire in 2018.