Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee advances draft ordinance setting criteria for TIF districts, including $50,000 threshold for studies
Summary
Attorney Catherine Walker presented a draft ordinance to add TIF district criteria to Chapter 12, proposing a $50,000 threshold above which applicants must supply market feasibility and cost-benefit analyses, and recommending requirements for outreach, stakeholder committees, and incentives for mixed housing and active transportation.
Attorney Catherine Walker presented a draft ordinance to the City of Norman Council Oversight Committee that would add criteria for establishing Tax Increment Financing (TIF) districts to Chapter 12 of the city code.
Walker said the draft creates a new section (12-703) outlining the criteria for TIF districts and distinguishes between rural and urban applications. She explained the draft would require an economic and risk analysis and allow the city manager and staff to share the analysis with council before placing a resolution to appoint an ad hoc stakeholder committee on the council agenda.
On a…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
