Quote Originally Posted by onthestrip View Post
Yes. Everything within the large TIF area will have all new property taxes and sales taxes go towards the arena costs for 25 years. The current UNP is getting close to filling in and development will naturally come north to this TIF area, with or without an arena. If this passes all the property taxes and sales taxes from this natural development will be paying for the arena rather than going to the local school district, city of Norman, public safety. etc.
And even though there is some cop, fire fighter, and other city services the increased density will require the hiring of more cops and firefighters. But this area won't be paying for this for 25 years. Also being mentioned is more residences. This means more schools, but no property tax collections means a raise in taxes for those not exempt.