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- Tax Increment Finance District
Tax Increment Finance District
In October 2020 The Edmond City Council approved Tax Increment Finance (TIF) District to provide the economic and funding structure to construct public improvements needed to stimulate private investment in downtown Edmond and its surrounding environs (see map). Roughly located between Fretz/railroad on the west, University/Boulevard on the east, Thatcher on the north and 9th Street on the south, the TIF District is projected to create up to $530 million in new investment in downtown bringing new commercial, residential, and mixed-use development to the core of the city – hopefully spurring additional redevelopment and rehabilitation with the surrounding neighborhoods and expanding the vitality of existing businesses.
TIF Policy Guide
TIF Assistance Application
TIF Area Map
PRIORITIES FOR ALLOCATION OF TIF RESOURCES
Listed below are the activities that the City believes will help serve as catalyst activities to drive growth and development downtown. As the City moves forward to determine what development projects it considers funding with TIF resources, the list below will help determine what some of the priorities will be in those considerations. This list has been derived from the Downtown Master Plan document and from successful practices of other cities. The City’s overall goal is to create a vibrant, enjoyable environment that becomes a significant economic center to our community.
NEW RESIDENTIAL LIVING UNITS
- Expand the number of available units and create different types of products available for consideration.
- Higher density development will be the only development projects considered.
- Special consideration will be made for affordable/workforce housing units.
Grow retail sales of merchandise or restaurants to build a strong sales tax base in the core of the City. New to market retail activity is preferred. This should strengthen the evening activity downtown.
Increase the square footage of office space available for employment opportunities downtown and for the community. Interested in commitments from businesses without an existing presence in the City. This will strengthen the daytime activity downtown.
CONNECTIVITY WITH UCO CAMPUS
Seeking development opportunities that create a bridge of activity between the campus and downtown.
PROMOTE NEW AND IMPROVE EXISTING PUBLIC SPACES
- Promote walkability by making public right-of-way attractive, safe, and connective for pedestrians to access all development activities the City promotes downtown.
- Improve existing community gathering spaces such as parks, Festival Market, and public parking lots.
- Seek opportunities to add additional gathering spaces connected with new development.
- Prepare for a new future of public transit.
MAKERS OR PRODUCERSWork to attract people to the district whose livelihood is derived from their creation of a product within the district. (This could include a broad range of artisan type activities from painting works of art, making jewelry, crafting furniture or baking bread.)