Share “Project 180 restructuring moves forward...”

Project 180 restructuring moves forward with restored projects, new budget

2013 is a crossroads for Project 180, which is reconstructing downtown streets, sidewalks and parks.

BY STEVE LACKMEYER Published: January 6, 2013
Advertisement

As one of the owners of three of the largest office buildings along Park Place, Mark Beffort is hoping that lessons learned over the past three years of Project 180 construction might spare his tenants at least some of the pain experienced elsewhere during the downtown makeover.

The start of the new...
Read the rest of the story on Oklahoman.com
NewsOK.com has disabled the comments for this article.

What is a TIF?

A tax increment finance district, also known as a TIF, allows a city, town or county to use tax money generated by a new development to pay for public improvements in the development area. Improvements associated with redevelopment projects can be supported by bonds, with the debt to be repaid by money generated within the TIF district. The TIF for the new Devon Tower will last for 25 years and projects were started three years ago through a $95 million loan from the company to the city that will be paid back from assessments and longer-term revenue bond financing.

AROUND THE WEB

  1. 1
    PHOTOS: Charlotte-area couple's proposal goes awry
  2. 2
    Suspected car thief ends high-speed car chase with a quick dance party [VIDEO]
  3. 3
    Two sisters to be raped after their brother ran off with a married woman
  4. 4
    2 Dead, 5 Injured in Hazmat Situation in Suburban Home
  5. 5
    Radioactive Waste Found in St. Louis Suburbs
+ show more

FEATURED JOBS



× Trending news Article