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City of Bartlesville
Posted: Jun 28, 2023 4:49 PMUpdated: Jun 28, 2023 4:49 PM
BRTA Approves Budget, Discusses Plans
Nathan Thompson
The Bartlesville Redevelopment Authority met Wednesday afternoon to take care of some end-of-fiscal-year items as well as looking to the future.
The BRTA, which oversees two Tax Increment Finance Districts in the downtown area, set their budget with revenue receipts from ad valorum taxes to be just over $1 million for the next fiscal year. Executive Director Chris Wilson projects expenses of approximately $330,000; which would leave approximately $727,000 in potential revitalization incentives.
Wilson also explained the project plans and program plans for the two TIF districts might need some minor adjustments, based on feedback from their attorney.
No action was taken on adjusting the dates of the plans to match fiscal years, but Wilson also says the BRTA may need to extend at least one of the TIF Districts to prepare for some large projects that are in development. If that occurs, a public hearing will need to be held.
The BRTA meets once a month in the Council Chambers at Bartlesville City Hall.
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