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TDA trustees flag dwindling funds, propose cross-entity task force to plan financial viability
Summary
Trustees heard a financial update showing declining TDA cash balances and discussed exploring recurring revenue sources — including HUD/CDBG, TIF, and possible rental/hold strategies — and agreed to form a focused task force with trustees and finance representatives.
Tulsa Development Authority trustees reviewed the monthly financial report and discussed options to shore up TDA’s long-term viability, including pursuing recurring revenue sources and creating a cross-entity task force to develop a financing strategy.
Finance director Lynn told trustees staff was still awaiting a signed document needed to start charging a quarterly management fee and that some line items appear high early in the fiscal year because invoices come at different times. Lynn warned the TDA’s cash balance in its TDF fund had declined to roughly $1.9 million and said…
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