Business & Community Affairs Committee, 2/1/24

okay all right good afternoon everyone welcome to the Thursday February 1st meeting of the business and Community Affairs committee uh today we have two items on our agenda the first being disc discussion regarding the development of a tax increment Finance District Master Plan I believe that M Walker has a presentation for us I'll go ahead and open up for to you okay thank you very high level presentation but uh just to start this came up you know at Council Retreat I think we've talked about it in several meetings about the benefit of creating such a plan and so I wanted to just talk briefly about um what allows Tiff districts because that will dictate where we can put them in a master plan um so article 10 section 6 of the Oklahoma Constitution authorizes the legislature to adopt laws that allow us to provide for incentives exemptions and other relief for certain areas and that includes a historic preservation area Enterprise areas and investment areas uh the local development Act is that legislation pursuant to that section of the Constitution that was adopted and we've been working with it since about 1992 um Tiff districts of course um are to be used in areas where investment development and economic uh growth are difficult difficult but made possible with Tiff assistance you typically use them to generate new employment um opportunities new economic activity and investment attract investment to areas of need throughout the city and those are those areas that are identified in the Constitutional provision

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