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Owasso council adopts amendment extending 10% development assistance throughout life of Redbud District TIF
Summary
The council approved Resolution 2025‑03 to amend the development assistance policy for the Redbud District tax increment financing (TIF) district, extending a 10% assistance level in hard construction costs through the remaining life of the TIF to encourage downtown development, staff said the TIF fund can support the change.
The Owasso City Council approved Resolution 2025‑03 to amend the policy guide for implementation of the Redbud District project plan (Tax Increment Financing District No. 1), extending a 10% development assistance level in hard construction costs through the remainder of the TIF's term.
Chris Garrett, speaking for staff, said the TIF was approved in December 2016 to help revitalize downtown. He told…
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