Oklahoma City Public Schools will soon have a new headquarters after the approval of over $10 million in TIF funds by the Oklahoma City council.
An old bank building at NW 6th and Classen will house all administration for the system. The building will be renovated before district staff moves in, who are currently spread out across four different buildings.
TIF stands for tax increment financing, and that $10 million in funding will come from the city by transferring property taxes for a limited period. The money can only be used for the building because it's one-time funding from the city, which is different from a steady revenue stream from the state that's needed for things like a teacher pay raise.
The district expects to move into the new building in February 2019.