The Tulsa City Council is considering a proposal to pump almost $8-million into North Tulsa.
The plan is called a tax increment financing district or TIF. The money will revitalize a stretch of Peoria Avenue from Pine to Apache. The proposal would allow the city to freeze tax money that pays for city services at current levels for the next 15 years.
They'll use extra tax dollars above that level from new businesses to spur growth in the community. Tulsa resident, Anthony Crawford, Jr, "The monies that are going to be generated and captured by the TIF is gonna do nothing but revitalize the community, spur development, help businesses."
Monies raised from the TIF will go towards cityscaping Peoria Avenue, renovating Lacy Park, and improving the roads near Booker T Washington High School.