The Downtown Development and Redevelopment Fund, which was part of the 2013 Improve Our Tulsa funding package, is intended to promote high-quality development in downtown Tulsa, including mixed-use and/or preservation-based projects. The projects will be evaluated for the potential they have to retain and promote new businesses Downtown, and support infrastructure for private development.
Applicants must demonstrate financial health and capacity, and show that the funding would be used to develop or redevelop physical property located within the Inner Dispersal Loop (IDL) in Downtown Tulsa. The loans are not intended to be used for land acquisition, only for new construction on existing land or redevelopment of an existing structure.
The design criteria also places emphasis on capitalizing on the community's assets and creating a sense of place and belonging and character; street and neighborhood connections; fountains, green space, pathways and streetscaping; public art; lighting; creation of gateways into Downtown and outdoor dining.