'Tax Increment Financing' May Be Key to Bricktown's Future

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A revenue-generating mechanism called "tax increment financing" could be a key to the continued development of Oklahoma City's Bricktown area, a group of urban planners learned Monday.

State Sen. David Herbert, D-Midwest City, told the Oklahoma chapter of the American Planning Association that increment tax financing is "painless financing," using revenues generated by increased property values in developing areas such as Bricktown.

The planners met for lunch at Bricktown's Spaghetti Warehouse restaurant, 101 E. Sheridan Ave.

"Oklahoma needs, especially with our lack of capital, programs that generate construction, redevelopment, Downtown and …