Broken Arrow City Council
Meeting of: 03/18/2025
Title:
title
Consideration, discussion, and possible approval of and authorization to execute Resolution No. 1644, a resolution declaring the intent to consider approval of a project and creation of a tax increment district under the Local Development Act; directing preparation of a Project Plan; appointing a Review Committee; directing the Review Committee to make findings as to eligibility and financial impact, if any, on taxing jurisdictions and business activities within the district; directing the Review Committee to make a recommendation with respect to the proposed Project Plan; directing the Planning Commission to make a recommendation with respect to the proposed Project Plan; and containing other provisions relating thereto
End
Background:
The City of Broken Arrow is working on to promote economic development in the south area in Broken Arrow, in order to provide increased opportunity for residents and to improve the overall standard of living. The city's desire to develop a tax increment finance district (TIF) to help finance the project cost and direct staff to prepare a proposed project plan to be considered. A review committee will be formed with the chair being a representative of the governing body; a representation of the planning commission having jurisdiction over the proposed district; a representative designated by each taxing jurisdiction within the proposed district whose sales taxes might be impacted by the plan; and three members representing the public at-large and selected by the other committee members from a list of seven names submitted by the chairperson of the review committee; and
The area that is being considered for a TIF is A tract of land that is all of the West Half of the Southwest Quarter (W/2 of SW/4) of Section Thirty-four (34), Township Eighteen (18) North, Range Fourteen (14) East, of the Indian Base and Meridian, Tulsa County, State of Oklahoma, according to the Un...
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