Tax Increment Finance (TIF)

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 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.

For better  understanding, read Why Downtown Development is Crucial for American Cities from National League of Cities.

Stillwater's TIF Districts

• TIF District #1: Stillwater North Perkins Project Plan
• TIF District #2:  Stillwater West 51 Development District Project Plan
• TIF District #3:  Stillwater (Re)Investment Plan (A Stillwater Downtown/Campus Link Project Plan)
• TIF District #4 & #5:  Boomer Lake Station Project Plan

TIF 1: Stillwater North Perkins Project Plan

The heart of this project is the development of an attractive, viable commercial retail center at the northeast corner of North Perkins Road and East Lakeview Road. The project plan for this district was adopted August 25, 2014 (Ordinance Number 3277 (PDF)).

• Beginning October 1, 2014, and authorized not to exceed 15 years.
• Map of TIF District 1 (PDF)

TIF 2: Stillwater West 51 Development District Project Plan

The purpose of this project is to develop an attractive, viable commercial retail development area along State Highway 51 extending from Range Road east to Sangre Road. The project plan (See Ordinance Number 3339) for this district was adopted May 16, 2016 (Ordinance Number 3339 (PDF)).

• Beginning July 1, 2016, and authorized not to exceed 20 years
• Map of TIF District 2 (PDF)

TIF 3: Stillwater (Re)Investment Plan (A Stillwater Downtown/Campus Link Project Plan)

The purpose of this project is to help the City achieve its development objectives by authorizing the appropriate and necessary public support and assistance for the development and enhancement of downtown Stillwater and the Corridor Redevelopment Area, as a special and unique place within Stillwater to live, work, shop, and play.

Throughout the years, the City has adopted a number of plans including the Stillwater Corridor Redevelopment Plan (2012) (PDF), the C3 Plan: Comprehensive Plan: 2030 (PDF) and with input from Stillwater residents, the Core Commercial Districts Master Plan or P.U.M.A. Plan (PDF). Though numerous pieces from the plans have been put in place, the Stillwater (Re)investment Plan is the funding mechanism to move these plans from the planning phase and into the implementation phase.

The project plan for this district was adopted June 18, 2018 (Ordinance Number 3407 (PDF)). Learn more about the Stillwater (Re)Investment Plan.

• New ad valorem revenue increases will be deferred and reinvested in the project area for 25 years (from adopted date: June 18, 2018) or until $32.5 million is reached, whichever comes first.
• Map of TIF District 3 (PDF)
• View TIF 3 Projects

Boomer Lake Station Project Plan

• Boomer Lake Station Plan (PDF)
• Notice of Public Hearing (PDF)

Coverage Maps

Oklahoma Natural Gas (ONE Gas):

• TIF Number 1 ONE Gas Map (PDF)
• TIF Number 2 ONE Gas Map (PDF)
• TIF Number 3 ONE Gas Map (PDF)

Note: All prospects must contact ONE Gas to verify capacity before any guarantee is made regarding gas in the area. To contact, call ONE Gas New Construction Services group at (866) 206-9587.

Questions and Input

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