If you are like most citizens in Tulsa, you may not know much about economic development tools that are put to use every day in Tulsa for the purpose of generating revenue that can be recycled and re-used for the benefit of the City. The following is intended to get everyone on the same page when we talk about “TIF Activity” and the role that TDA plays in connection with various TIFs in our City. Also visit our Education page for additional resources about TIFs and other economic development tools currently available for use in Tulsa, Oklahoma. We hope this helps get us all talking the same language.
What is a "TIF"?
Upon request of the City of Tulsa, the Tulsa Development Authority serves as an administrator of Tax Increment Financing funds that are created and established by or through sales tax dollars collected within various tax districts in the City of Tulsa. These funds are put to use within those districts to support various revitalization, rehabilitation and new economic development projects.
Over the years, TDA has administered several different TIFs on behalf of the City of Tulsa – all of which are now expired and are no longer collecting increments, including:
- Brady Village TIF No. 1
- Central Park TIF No. 2
- Tulsa Technology TIF No. 3
- North Peoria TIF No. 4
- Blue Dome TIF No. 5
As a part of an internal effort to improve the TIF Administration process for all Authorities, TDA lead an internal review of the TIF Administration processes in 2020 and generated a final report (COMING SOON) on all of the above listed TIFs and identifying opportunities for improving the administration process and enhancing the accessibility of information about the TIFs to the general public. Reporting on the status of TIFs was improved during the 2nd Quarter of 2020 and as of the 2nd Quarter of 2020, the TIF Report from 6-30-2020 details each active project and completed project in each TIF, as well as the available cash balance in each TIF. This form of reporting was put into effect for TDA and is being adopted by the other TIFs that are administered by other Authority boards as well.
For the most current listing of the completed projects and active projects in each TIF district, as well as the most current financial reporting for each district, visit our TDA Board Packets – Financial Reports – TIF Financial Report which are reported to the Board on a monthly basis as of July 1, 2020.
What TIFs do TDA currently administer for the City of Tulsa?
The following displays the 5 TIFs currently being administered by TDA in Tulsa. Other authority boards administer other TIFs in other locations and the City is collaborating with TDA to help a few developers in North Tulsa establish TIFs that will cover their own developments.
Click the TIF areas for more information.
Coming Next: Display of Projects Completed using TIF Funds from each District