The City of Tulsa has approved three new Tax Increment Finance districts, which will add over 1,800 new housing units. The Tax Increment Finances, lasting 25 years, aim to support development, affordable housing, and improve quality of life in different areas. The Crutchfield Neighborhood Tax Increment Finance will create 625 new housing units east of US Highway 75 and north of Interstate 244. Mayor Nichols said, "These new TIF districts will have a direct role in helping us meet our affordable housing goals to bring 6,000 new units online by 2028," according to the City of Tulsa.
The City of Tulsa has formed a partnership with the Muskogee Creek Nation to develop the Southern Villa area into a mixed-use space with over 870 new housing units. The project, located east of Riverside Parkway, aims to improve housing and stimulate economic growth. Councilor Anthony Archie stated, "Southern Villa will not only provide a surge of economic development and quality housing but will signal that Tulsa is open for business and is an excellent place to raise a family."
The Pearl District Tax Increment Finance, located west of South Utica Avenue and south of Interstate 244, is proposing the addition of 320 new housing units to address the housing shortage and improve infrastructure. The district provides access to Bus Rapid Transit lines for easier transportation. Councilor Laura Bellis stated, "Applying a TIF to the Pearl District will provide this lively neighborhood with critical tools to help address our housing crisis and support the area with needed infrastructure to improve pedestrian access and safety." The Tax Increment Finance is part of a series of district initiatives, including Woodland Hills and Peoria-Mohawk Business Park, aimed at supporting neighborhood and infrastructure improvements, as reported by the City of Tulsa.
