City Begins Process for Proposed Funding Amendments for Economic Development Priorities

City Begins Process for Proposed Funding Amendments for Economic Development Priorities

4/23/2026

Today, the City of Tulsa started the formal process to begin making recommended amendments to Title 43-K as it seeks to implement a multi-year budget strategy that will address critical community and economic development needs.

As background, in 2016, three propositions were taken to Tulsa voters. One component of that package was Proposition 3, which created a funding stream for economic and community development projects across the city. When the package passed a decade ago, projects ranging from the Gilcrease Museum expansion to safety improvements across Tulsa's school districts were identified, and all voter-approved projects promised to Tulsans in that package are either already fully funded or are on track to be funded through 2031.

With the Vision Tulsa fund overperforming projections, a fund balance of $103 million is available in the Vision 2016 and would be available for one-time uses over a multi-year period. With an ordinance change, this one-time fund balance could be utilized to help with addressing the city's most pressing needs and unfunded capital economic commitments.

It's important to note that Title 43-K amendments only focus on the portion of the funds that must be amended through this process per City ordinances. As such, some economic development items that currently live within the general fund such as current economic incentives, could transfer to Vision 2016 fund use, opening up the general fund for true operational needs since the general fund services as the primary operating budget for the City and funds the day-to-day of the City.

Specifically, the Title 43-K amendments will focus on the following fund areas:

• $25 million to complete the new Public Safety Center and keep in line with the Arena District Master Plan;
• $23.5 million to fund programs, improvements, and facilities to address homelessness;
• $18.9 million to support the future of Tulsa Municipal Court and the City lockup facility; and
• $18.5 million to empower neighborhoods with the tools needed to strengthen neighborhoods and grow the local economy
• $4.15 million for funding of General Fund economic development incentives

The projects selected are mostly unfunded commitments that would create stronger economic and community outcomes while aligning with the Arena District Master Plan and the needs of our city today. Ultimately, the authorization to utilize these funds in this way will serve as a bridge to allow the City to stabilize operations in the near term while maintaining long-term economic development commitments.

Mayor Monroe Nichols introduced this concept in his April 22, 2026 budget proposal to help fund community priorities within the financial confines of the City's funding sources. If the amendments do indeed move forward, the City plans to use approximately $40 million in Vision 2016 funding for the upcoming fiscal year (which includes funding for the Public Safety Center). To read the mayor's speech and review the proposed budget, visit: https://www.cityoftulsa.org/mayor

Following the news conference today, a required legal process will proceed following the City ordinance, which includes a legal notice and public hearings, and Council discussion, among other requirements per Title 43 M - Section 103.

Vision Projects & More InformationTo see the list of Vision Tulsa projects, and how its Downtown-specific projects line up with the Arena District Master Plan, visit: https://www.cityoftulsa.org/vision