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
;

While the sales tax...

Oklahoman subscribers have access to this article. Unlock it below.

What is this? Learn more.

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.

Trending Now


AROUND THE WEB

  1. 1
    Prisoners earn degrees through Tulsa Community College while behind bars
  2. 2
    OKC Thunder: Josh Huestis' agent proposed delaying rookie contract
  3. 3
    UK Supermarket To Power Itself With Food Waste
  4. 4
    The Most Water-Consuming States Are The Ones In Drought
  5. 5
    This company wants to replace your car with a fleet of Teslas and electric bikes
+ show more