Tax Increment Financing District

The City of McAlester is experienced in utilizing Tax Increment Financing (TIF) Districts for the purposes of business development and economic revitalization. Industrial, commercial, or residential projects that require a public-private partnership to be viable may be considered on a case-by-case basis for the creation of a new TIF District.

TIF Districts allow an authorized Public Authority to retain and redirect incremental sales and/or property taxes that occur within the district back into the district to help pay for site and infrastructure development costs.

Local Success Story
Shops at McAlester
The City of McAlester created a 'McAlester Southside TIF District' for the purpose of developing an economically stagnant site into a new shopping center. The TIF District will capture the incremental City and County sales taxes generated on the site to reimburse for public sector infrastructure improvements on and to the site.