Philcade building TIF split into Districts J and K
Summary
The second amended downtown TIF plan corrects a decades-old sales tax rate, adds funding to the Cathedral District, and pulls the FIN2 site out of the downtown TIF so more increment can flow north. Public hearings come Feb. 25 and March 11.
At a glance
- Total mentions
- 5
- Last 30 days
- 2
Discussed at 2 meetings in the last 60 days; most recently Oct 22, 2026.
Impact analysis
Redirects future tax increment; the Cathedral District alone has roughly $500 million in identified redevelopment needs.
Developers and residents in the Cathedral District and North Tulsa gain new financing tools for redevelopment.
Some taxing jurisdictions could forgo increment revenue within the districts; the review process will assess that.
Mentions & discussions (5)
Tulsa Authority for Economic Opportunity - Oct 22, 2026
The historic vacant Philcade building downtown is being turned into a hotel, residences, restaurants and bar — about $100 million of investment. The board approved a $35M conduit bond resolution; the bonds are backed by the project, not taxpayers.
Council Public Works Committee - Oct 21, 2026
The Philcade downtown TIF is being split into two districts so sales tax revenue can start flowing in early 2027 while property and hotel-motel tax starts in 2028. The city needs both ordinances approved before it can market bonds for the project. Councilors also pushed for easier-to-read public TIF data.
Tulsa Authority for Economic Opportunity - Aug 27, 2026
Staff estimate roughly 1,500 housing units are in the pipeline across active TIF districts including Crutchfield, Pearl, and South Tulsa, with new developers expressing interest in the Pearl district.
Council Urban & Economic Development Committee - Jul 15, 2026
The city would apply for state matching payments under the Leverage Act for the Philcade project, potentially capturing about $20 million in state matching funds over 25 years.
Council Public Works Committee - Feb 11, 2026
The second amended downtown TIF plan corrects a decades-old sales tax rate, adds funding to the Cathedral District, and pulls the FIN2 site out of the downtown TIF so more increment can flow north. Public hearings come Feb. 25 and March 11.
Related development
Philcade Building Redevelopment
A destination project meant to bring residents, workers and diners downtown — a major piece of downtown revitalization with local jobs and spending.
Second amended Downtown Area Economic Development Project Plan
Could unlock roughly $500 million in Cathedral District redevelopment and shift increment toward North Tulsa.
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