Actually, I think we are talking about two separate things:
- The TIF (Tax Increment Financing) is the property (in this case being develped by Devon) that will generate the taxes.
- The TIRZ (Tax Increment Reinvestment Zone) is the area where those dollars will be spent.
I believe the area shown by Del is the TIRZ. Small distinction but I wanted to get this in the discussion so I (and others) can keep it straight in the future.
But as stated, there are lots of other funds available through the general oblgvation bond and the opportunity fund, and I believe Nichols insisted this all be invested for the Myriad Gardens and overall streetscape projects, including Bricktown, Auto Alley, Midtown, The Film Exchange, Deep Duece and the Arts District.
It also seems like the most work is needed with the TIRZ (effectively the CBD) as several streets need to be converted to two-way, on-street parking is to be added and the higher density requires more of just about everything. It's also the most visible and trafficed part of downtown thus deserves and needs the most attention.
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