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3.
Planning Commission
Meeting Date:
04/15/2024
Initiator:
Jody King, Planning Director
Information
AGENDA ITEM TITLE:
Consider action on Resolution No. 2984 recommending that the City of Muskogee, through its City Council, create a tax increment district, and approve the Southside Industrial Park Economic Development Project Plan, or take other necessary action. (Mike Miller)
LEGAL DESCRIPTION:
BACKGROUND:
Port Muskogee, working with City and County officials, have identified prospective industrial development opportunities that will create new jobs and bring economic benefits to the City of Muskogee and Muskogee County. However, certain critical infrastructure improvements to roads, utilities, and rail access are necessary to allow the development to move forward. On October 9, 2023, the City Council voted 8-0 to appoint a TIF review committee to make findings and a recommendation on the proposed project. The Council designated Mayor Coleman as chair of the TIF committee. Since then, the Committee has met three times, the most recent of which was March 15. The City proposes to create a tax increment district within the Southside Industrial Park (Increment District No. 6, City of Muskogee), and the County proposed to create a tax increment district within the John T. Griffin Industrial Park (Increment District No. 2, Muskogee County), that will provide a mechanism to capture a portion of the new ad valorem and construction sales tax revenues generated as a result of the projects. The revenues will be used to fund critical infrastructure improvements. Additionally, the County proposes to terminate its existing Increment District No. 1 within the John T. Griffin Industrial Park, as it pertains to a project that never came to fruition. The termination will allow other potential economic development projects to continue to move forward. This item and others on this agenda will review the projects and the TIF committee recommendations.
RECOMMENDED STAFF ACTION:
Recommend approval to the City Council
Fiscal Impact
Attachments
TIF Draft Resolution
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