What are the project area's designations?

The established project area for the TIF is recognized and designated as an area of economic distress.

Designations label the area as an enterprise zone, state opportunity zone and federal opportunity zone.

Limited areas in 24 states have been designated as Federal Opportunity Zones due to the level of economic distress measured by incomes and poverty. Generally, it is a measure of economic health (or lack of) related to jobs, employment, and pay scales in an area.

Opportunity zones were created by The Tax Cuts and Jobs Act in December 2017, and are intended to spur investment in impoverished and economically distressed areas.

This designation represents a current documentation of general economic distress warranting community efforts to nourish economic health, attract new businesses and employers and to create new community economic opportunity that will attract businesses, create jobs and augment the attractions of the community.

To view the zones, go to: http://odoc.maps.arcgis.com/apps/webappviewer/index.html?id=6c9ab2ff71c041b4ad4aa1ed90f1cbb5

  • Next, click the "Layers" tool.

  • Zoom into Stillwater using the + button in the upper left corner. Then, scroll down the list of Incentive Map Layers, and click the box with the zone label you're wanting to view.

The TIF established project area also falls within a qualified New Markets Tax Credit Program area.

The NMTC Program incentivizes community development and economic growth through the use of tax credits that attract private investment to distressed communities.

This program is administered through the U.S. Department of the Treasury.

To learn more about the NMTC Program, go to: www.cdfifund.gov/nmtc

Show All Answers

1. What does this Plan do?
2. Where are the boundaries of the Plan?
3. Who is affected?
4. Is this a new tax?
5. How does it work?
6. Has there been support from local business owners?
7. Are there any other cities using TIF?
8. Are projects completed without a TIF?
9. How is the community as a whole impacted?
10. Is growth limited to the TIF boundary?
11. What are the project area's designations?