Committee discusses tax-increment financing master plan to capture South Norman development

The City Council Business and Community Affairs Committee on Feb. 6 continued a discussion about creating a tax-increment financing master plan that would include a TIF district for South Norman, with a presentation from consultant/staff member Catherine Walker.

Walker said city staff revised the project area to extend farther south to capture recently approved planned-unit developments, including the Armstrong Bank PUD and the Farzoni/ Sooner Village area, and to include potential redevelopment at the 29-acre "perfect swing" site off Jenkins. “we really focused on enterprise zones because that's a pretty easy, box to check under the Local Development Act,” Walker said as she explained using enterprise-zone maps to identify eligible areas.

The nut of the proposal is to establish a broad project area while targeting smaller increment districts so the city captures new development…