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Council created Hackberry Market tax-increment financing district to spur South Broken Arrow development
Summary
Officials said the council created a Tax Increment Finance (TIF) district (the city's sixth) for the Hackberry Market area, using a sales-tax-only structure that will divert a portion of city sales tax to repay development-related costs; officials said schools are not included in this TIF.
Mayor Deborah Wimping and Aaron McCulloch summarized the creation of a Tax Increment Finance (TIF) district for the Hackberry Market area, described by city officials as the city's sixth TIF.
McCulloch asked for clarification and Wimping said the city created the TIF during the May 6 meeting. The mayor…
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