Oakwood’s Master Plan will be funded by an estimated $150 million to $200 million in private investment from developers, while the City will be responsible over the next two decades for up to $50 million in land and infrastructure improvements such as secondary thoroughfares, sewer connections, park construction, and streetscaping.
In preparation for this investment, the City has established a TAD, or Tax Allocation District, for the Master Plan’s designated redevelopment area. This funding mechanism, employed by local governments across the state, uses the incremental increase from rising property values in the TAD to pay for infrastructure needs.
TAD financing likely would cover about 40 percent of the infrastructure costs. The balance is expected to come from federal and state grants, additional public funding such as general obligation bonds and sales tax revenues, and private donations. The City also has received authorization to form a Community Improvement District (CID) as a potential means to secure additional funding.