Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.
| State or Territory: | Oklahoma |
| Effected Jurisdiction: | Oklahoma City |
Jurisdiction type: | Municipality |
| Fiscal year ending In: | 2018 |
| Program name: | TIF - Economic Development Project Plan |
| Program purpose: | General Economic Development (TIF) |
| Statutory authority: | Local Development Act Section 850 |
| Abating jurisdiction(s): | City of Oklahoma City |
| Applicable taxes: | Property Tax |
| Method of abatement: | Payment In Lieu of Taxes (PILOT) |
| Provisions for recapture: | Developers are required to pay back the total incentive received if they sell, transfer or otherwise dispose of the property usually within three to five years after the date of completion of the project. |
| Gross revenue loss: | $3,280,000 |
| Reimbursement / offset: | $0 |
| Net revenue loss: | $3,280,000 |
| Type of loss: | Active |
| Additional notes on dislosure: | (none) |
| Document source: | https://www.okc.gov/departments/finance/financial-and-budget-reports/ann... |
