(Re)Investment Plan

Tax Increment Finance | TIF

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About

Oklahoma residents approved the process for creating tax increment (TIF) districts in 1998. This law granted city councils the authority to create TIFs in areas that are unproductive, undeveloped, underdeveloped or blighted.

Local governments can use tax increment financing to publicly finance needed structural improvements and enhanced infrastructure within a defined area to promote the viability of existing businesses and to attract new commercial enterprises to the area. Any funds the TIF generates would only be allocated for investment in the identified project district. These funds would not go into the City’s general fund.

In addition to generating much-needed funds, reinvestment in our community’s infrastructure will create jobs, hence the need for more workforce development and attendant earning potential.

The idea of growth encouraged by tax increment financing is not a new concept. In the Stillwater's 2005 P.U.M.A. Plan, it states: "Incentives and development policies are proposed ... Potential incentives include enhanced streetscape and signage ... and financial incentives including revolving loan funds and tax increment financing."

TIF districts serve as a catalyst in their region to achieving the City's goals of promoting economic development, stimulating private investment, and enhancing the tax base, with the goal of making possible investment that would be difficult or impossible without the project and the apportionment of incremental ad valorem and sales tax revenues from within the increment district.

All project plans support the City’s efforts to achieve its development objectives and improve the quality of life for its residents.

If a project plan does not generate new development projects, the City Council can modify or cancel it at any time—without any impact.


Questions & Input

If you have specific questions or would like to submit input regarding any of Stillwater's TIF districts, fill out the online form linked below. Your submissions will be directed to a city staff member or city councilor.


Stillwater's TIF Districts


Stillwater North Perkins Project Plan


Stillwater West 51 Development District Project Plan


Stillwater (Re)Investment Plan (A Stillwater Downtown/Campus Link Project Plan)