Tax Increment Financing (TIF) is an economic tool used by cities to stimulate development in a determined area. Developers who invest in a TIF District are incentivized by an opportunity for reimbursement for approved costs. The increase in property tax revenue generated from developers' improvements are allocated to help finance projects that align with the city's stated goals for the area and further encourage economic development.
​
In October 2020, The Edmond City Council created a Downtown Edmond TIF District (see map below). The TIF District is projected to create up to $530 million in new investment in Edmond's urban core.​

​Any increase in property tax revenue above the taxes collected prior to development is referred to as the “tax increment”. The tax increments received by the city are placed in a fund to be used for the reimbursement of approved project costs or improvements. Without the TIF, the city would not have the funding to make the necessary infrastructure improvements to support the new development. Examples of improvements include additional parking, streetscapes, landscaping, and necessary utility infrastructure that paves the way for more development and increases the value of the district overall - creating a place for the community to enjoy and for local businesses to thrive.
​
The TIF is funded exclusively from property taxes paid by the developer and future property owners within the approved project. It is not funded from existing property taxes, sales taxes, or from other City of Edmond departments.
​
After development has been completed, after increased property values have been assessed by the Oklahoma County Assessor, after higher taxes have been paid by the developer and received by the City of Edmond, developers will be reimbursed and only if they adhered to guidelines and timeline.​
TIF Projects Approved and/or In Progress
103 Broadway - residential, office and retail at Broadway and Hurd St.
Oxlley Apartments - 270 residential units, including a parking garage, on Main St.
The Lark - 41 luxury modern cottages at Fretz and 1st St.
The Ember - 23 home pocket neighborhood at Blvd and E. 9th St.
The Campbell - 75 apartment units and commercial space near UCO
The Townsend - 23 residential units, office and retail near Stephenson Park
Broadway Lofts - up to 200 residential units on Broadway and Campbell St.
— Representing almost $200 Million in new development for downtown Edmond with more development in sight.
​
The City of Edmond, Edmond Public Schools, Francis Tuttle Technology Center, Metropolitan Library System, Edmond residents, small businesses, real estate developers, and local contractors all benefit from TIF.
TIF
Tax Increment Financing