Surveying Tulsa | AAB Engineering Clients

Episode 4 – TIF Projects 101 | How Do You Get a City to Pay for Your Commercial Project?

Learn more at: www.AABEng.com 

Definition – Tax Increment Finance District – Tax increment financing (TIF) is a public financing method that is used as a subsidy for redevelopment, infrastructure, and other community-improvement projects in many countries, including the United States. The original intent of a TIF program is to stimulate private investment with a blighted area that has been designated to be in need of economic revitalization. Similar or related value capture strategies are used around the world.

AMPLE EXAMPLE – The Broken Arrow Arrow Rose District 

AMPLE EXAMPLE – The Brookover Corner project – https://www.brookovercorner.com/ 

AMPLE EXAMPLE – The Tulsa Hills shopping development

 

  1. Step 1 – A client asks how to configure a piece of property
  2. Step 2 – Alan suggested to go after TIF money
  3. Step 3 – AAB must go to the city to start negotiating and educating the city about the process.
  4. Step 4 – When I’m done with the project the developer can earn up to half of the ad valorem.