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Norman council seeks formal TIF application framework, more citizen input and stronger economic review
Summary
Staff presented a proposed framework to standardize TIF district applications, including a uniform application, possible citizen TIF committee, a third-party economic and risk analysis, and options for application fees and supermajority voting rules. Staff will draft ordinance language and return for review.
City staff outlined steps to create a more uniform process for establishing tax increment financing (TIF) districts and asked council for guidance on citizen input, required analyses and voting rules.
"Just because something legally qualifies for a TIF doesn't mean it's necessarily right for the community," said a staff member (Speaker 5) while presenting policy examples from Fort Worth and Olathe that add public-purpose criteria and…
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