A plan to give developers $20 million in incentives to build an outlet mall in east Tulsa is moving ahead.
The local planning commission said the plan for a tax increment financing district, or TIF, goes along with the city’s policies for planning and land use. Depending on when the city council votes on the matter, it could be on the mayor’s desk before the end of the year.
The TIF plan says it could last up to 25 years. It’s a way to subsidize the cost of making public improvements around the proposed outlet mall for Horizon Group Properties.
Planning Commissioner John Dix wasn’t completely sold on the idea.
"We run off an outlet mall on the west side to Jenks, and then we give 25 years of sales tax to one on the east side?" Dix said. "I don't understand the mindset."
This TIF is moving along quickly because of its revenue source.
"Because they didn't have to coordinate with all those taxing entities that they typically would, like the school district and the county and the libraries and all that," said Susan Miller with INCOG. "It's just sales tax only."
Using sales tax is somewhat unusual, as TIF districts generally use property and other taxes.
