Economic Development Infrastructure Fund

Statement of Purpose

To assist with valid public infrastructure needs related to the retention, expansion, and attraction of quality employment opportunities within the corporate limits of the City of Tulsa.

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Sources of Funding

The Fund utilizes two separate sources of funding to support the expansion, retention, and attraction of quality employment opportunities within the corporate limits of the City of Tulsa.

Improve Our Tulsa I - 2013

Improve Our Tulsa II - 2019

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Criteria for Award and Use of Funds

The criteria and objectives which guide consideration and awards from this fund include, but are not limited to, the following key issues and items:

• A. It is the objective of this fund to provide assistance with public infrastructure needs in those unique instances when this is the most appropriate program or resource. For the purpose of this policy, public infrastructure shall include improvements or enhancements to water, sewer, stormwater, road/street, traffic control, or transit infrastructure, or other improvements located within the public Right of Way or on publicly owned property;
• B. This fund is designed to assist with the retention, expansion, and attraction of quality jobs which support the City's goals of raising per capita income and increasing economic mobility for its residents;
• C. It is not the intent of the policy to fund land acquisition,
• D. All projects will be subject to the negotiation of a formal agreement governing the use of funds, to include cost-sharing and claw-back provisions; and
• E. All awards are made based upon fund availability and analysis of the impact of the project under consideration.

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Job Quality Measures

A. Wage Requirement:

It is the objective of this program and policy to support efforts to increase per capita income and improve economic mobility among Tulsa citizens. As such, applicants must meet the following wage requirements in order to be considered for an award of funds.

• 1 . Average wage of all jobs retained or created must be equal to or greater than the average county wage, defined as the prevailing average wage in the prior calendar year as reported by the Bureau of Economic Analysis, and
• 2. The calculation of average wage may include overtime and bonuses but shall not include the value of health or other employee benefits.

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B. Benefits Requirement:

It is further the objective of this program and policy to support efforts to improve health outcomes for Tulsa citizens. As such, applicants must provide health benefits which meet the following criteria:

• 1. All businesses must offer basic health insurance coverage to all employees working 30 hours or more 10per week, whose pay is included in the payroll for qualification;
• 2. Employees must pay no more than 50% of the premium cost and Employees must be allowed access to the coverage within 180 days of employment; and
• 3. Employees must have the ability to accrue Paid Time Off within 180 days of employment.

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C. Job Opportunity Measures:

It is further the objective of this program and policy to support efforts to increase job opportunities for Tulsans who experience barriers to employment and to provide access to jobs which provide the opportunity for career advancement from entry-level positions.

• 1. Second-chance hiring: Employers providing job opportunities, training, and support for justice-involved Tulsans may request an exception to the policy's average wage requirements. In no circumstance shall funds be awarded to employers whose average wage is less than 80% of the average county wage. Employers must show evidence of institutionalized training opportunities to allow for career advancement to qualify for an exception to wage requirements.
• 2. Training and career pathways: Employers who provide institutionalized training opportunities to allow for career advancement from entry-level positions to higher-level positions may request an exception to the policy's average wage requirements. ln no circumstance shall funds be awarded to employers whose average wage is less than 80% of the average county wage
• 3. International and foreign credentials: Employers that recognize credentials from countries outside the U.S., or recruit individuals with foreign credentials, may qualify for enhanced support per the provisions outlined in Section D below.

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D. Ensuring Economic Mobility:

Employers who meet or exceed the minimum wage criteria outlined in Section A (or an exemption thereto under Sections C 1 or 2), the minimum benefits criteria outlined in Section B, while also meeting Job Opportunity measures in Section C, shall qualify for consideration for an increased award from the fund.

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Consideration for Catalytic Economic Development Projects

The Full Review Committee may consider variances to the Wage Requirement, Benefit Requirement, or Job Opportunity Measures for catalytic projects requesting use of the Fund. For the purpose of the Economic Development Infrastructure Fund, catalytic projects are defined as:

• A. A capital investment of $100,000,000 or more; and
• B. The creation of 1,000 or more FTE jobs.

In order for the FRC to consider a variance, the project must meet at least two (2) of the three (3) measures outlined in Section C of Job Quality Measures. In no circumstance shall funds be awarded to employers whose average wage is less than 70% of the average county wage. For variances to the Benefits Requirement, the Full Review Committee shall only consider requests related to the minimum employment timeframe for receipt of benefits; in no circumstance shall funds be awarded to employers who do not offer health benefits or paid time off.

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Project Implementation

Depending on the terms of the contract with the developer, the City's Public Works Department may implement the project and manage construction of the improvements, or when appropriate, the developer may construct the improvements through the appropriate processes (IDP typically) and be reimbursed to an amount approved by the City upon submission and approval of qualifying costs of construction.

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Detailed Approval and Implementation Process

Applications for Economic Development Infrastructure Funds shall follow the following approval and implementation process.

1. Project Application submitted to TAEO
2. TAEO Staff Reviews and Evaluates Application
3. Project Details and Initial Recommendation Presented to Mayor for Review
4. Technical Review Committee Evaluates Application for Eligibility and Completeness
5. Full Review Committee Approves Application
6. City Council Notified of Project
7. City Council Approves Resolution Authorizing the Use of Funds
8. Mayor Signs Contract with Project or Developer
9. Incentive Implementation

View policy document (September 2024)