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<br />Highlights
<br />•Development has increased
<br />market values nearly 220%
<br />TIF 6-1 more than 800%
<br />TIF 7-3 is brand new. No new
<br />development yet.
<br />•Recently decertified Districts
<br />show market values nearly
<br />300% since District creation.
<br />TIF As A Development Tool
<br />Existing Districts Base
<br />Year
<br />Original Market
<br />Value
<br />Inflated Original
<br />Market Value
<br />Payable 2021
<br />Market Value
<br />Percent Increase
<br />in Value
<br />TIF 3-3 Lodge/Garden Terrace 2003 2,224,000 3,315,573 25,541,800 670.36%
<br />TIF 5-1 St. Jude Medical 2008 4,383,300 5,584,609 22,236,800 298.18%
<br />TIF 6-1 Masterpiece Homes 2010 758,900 954,681 8,871,500 829.26%
<br />TIF 7-1 Suite Living 2018 4,672,100 5,103,815 10,935,900 114.27%
<br />TIF 7-1 Suite Living 2019 9,426,500 10,114,267 13,432,800 32.81%
<br />TIF 7-3 Owasso Warehouse 2023 469,200 469,200 469,200 0.00%
<br />TOTAL 21,934,000 25,542,145 81,488,000 219.03%
<br />Recently Decertified Districts Base
<br />Year
<br />Original Market
<br />Value
<br />Inflated Original
<br />Market Value
<br />Payable 2021
<br />Market Value
<br />Percent Increase
<br />in Value
<br />TIF 2-1 Kandace Heights 1990 791,900 1,689,237 8,064,000 377.38%
<br />TIF 3-2 Rice Street Redevelopment 1996 6,060,800 12,928,563 49,919,100 286.12%
<br />TOTAL 6,852,700 14,617,800 57,983,100 296.66%
<br />Inflation calculator used: http://www.usinflationcalculator.com/
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