Michael Overall: Nearly 30 years ago, Tulsa planted a small seed called a 'TIF.' See how it has grown
16 Nov 2020
Tulsa wanted an emergency clause that would have let the bill take effect immediately, but state lawmakers didn’t see any need to rush. It had taken several years already to convince the Legislature to allow “tax increment financing,” so what difference would a few more months make?
The law passed in 1992, the same year Spaghetti Warehouse opened in what was then known as the Brady Village. But it was 1993 before Tulsa was finally able to create Oklahoma’s first TIF district.
The north side of downtown was a mostly deserted backwater of abandoned buildings and vacant lots. But Spaghetti Warehouse, which had helped spark revitalization in downtown Dallas and Oklahoma City, was supposed to begin attracting new investment, which in turn would slowly raise property values.