Norman Tax Increment Financing Project Assistance
Norman can use tax increment financing districts to support qualifying redevelopment and economic development projects.
About this program
Tax increment financing is one of the local incentive tools identified by the Norman Economic Development Coalition for economic development and redevelopment. A TIF district allocates future increases in sales tax or other incremental revenues in a designated area to encourage public and private investment. In Norman, this tool may be considered for projects that require public infrastructure, redevelopment support, or economic development assistance in a defined district and that can demonstrate public benefit.
Eligibility
Developers, businesses, property owners, and public-private partners with qualifying redevelopment or economic development projects in eligible Norman TIF districts may seek project assistance.
Requirements
- Project must be located in an eligible Norman TIF district or proposed project area.
- Project must support redevelopment, public infrastructure, job creation, private investment, or another public economic development objective.
- Applicant must document project scope, location, financing, eligible costs, tax increment projections, timeline, and public benefit.