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9.
Regular City Council
Meeting Date:
04/22/2024
Submitted For:
Mike Miller
Initiator:
Judy Villalobos, Executive Assistant
Department:
City Manager
Staff Information Source:
Information
AGENDA ITEM TITLE:
Consider approval of Ordinance No. 4233-A, an Ordinance of the City of Muskogee, Oklahoma (the “City”) approving utilization of apportioned tax revenues authorized by statewide vote adopting Article 10, Section 6C of the Oklahoma Constitution and implemented by the Local Development Act, 62 O.S. §850, et seq.; approving and adopting the Southside Industrial Park Economic Development Project Plan and expressing intent to carry out the Project Plan; ratifying and confirming the actions, recommendations and findings of the Review Committee and the Planning Commission; creating and establishing Increment District No. 6, City of Muskogee; designating and adopting the Increment District boundaries and the Project Area boundaries; adopting certain findings; reserving to the City the authority to make minor amendments to the Project Plan; authorizing the City Council of the City to carry out and administer the Project Plan; establishing a Tax Apportionment Fund; authorizing directions for prospective apportionment of tax increments; establishing an allocation of use for tax increments; declaring apportionment funds to be funds of the City and limiting the pledge of apportioned increments to increments actually apportioned by the City; authorizing the City Council of the City, or a public trust designated thereby, to implement the Project Plan utilizing apportioned tax increments to pay or reimburse project costs directly and/or to issue bonds or notes, if feasible and desirable, to pay project costs and to retire said bonds or notes from apportioned tax increments; providing for severability; declaring an emergency; and containing other provisions related thereto, or take other necessary action. (Mike Miller)
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 the 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 the ones that follow will review the projects and the TIF committee recommendations.
RECOMMENDED ACTION:
Approve
Fiscal Impact
Attachments
DRAFT: TIF #6 ORDINANCE
• Southside Industrial Park Project Plan (Ordinance Exhibit A)
• Resolution No. 2984
• TIF Resolution (Review Committee) (Ordinance Exhibit E)
• Form of Muskogee County Resolution Approving Sales Tax for TIF (Ordinance Exhibit F)
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