$1M Grant Given to Help Diversity Rural OK Companies
The U.S. Economic Development Authority presented a $1 million federal grant to the Oklahoma Center for the Advancement of Science and Technology. This grant promises to help rural Oklahoma oil and natural gas companies diversify in a move promoters say will create hundreds of jobs and boost the region's economy.
Kansas City Plans a Major Bond Issue to Pay for Large-Scale Infrastructure Improvement
Kansas City has plans for a major bond issue during next year's April election. The plan would involve a property tax increase to pay for the large infrastructure maintenance backlog that includes street improvements.
Incentive Reform Measure Debated but Not Voted on by Kansas City Council
The Kansas City Council held off on voting on an incentive reform ordinance amid a flurry of eleventh-hour opposition from a labor organization and a walkout by a sponsor of the measure during a long debate.
Business Leaders Consider 'OKC Innovation Link'
Dozens of civic and business leaders gathered to consider whether to pursue building parks and commercial development over Interstate 235 as a way to create an "OKC Innovation Link."
$210M Mixed-Use Development Planned in Lenexa
Lenexa-based Oddo Development Co. will begin mixed-use development this fall on one of the largest undeveloped commercial tracts within the Interstate 435 loop in Johnson County.
Enid City Commission Terminates 3 TIF Districts and Creates 1
Enid, OK City Commission has approved the termination of three Tax Increment Finance districts, and the creation of one new district. Nate Ellis, of Public Finance Law Group, said the projects ultimately never moved forward, due to economic circumstances beyond the control of the city.
CIDs Funding Improvements in KC Metro Area
Shopping centers and other developments around the Kansas City area are collecting higher sales taxes through creation of community improvement districts. These CIDs and their transportation development district cousins now heavily dot the metro area.
Salina Awaits Development Agreement for Downtown Projects
The Salina City Commission postponed action on Sales Tax Revenue Bond and TIF plans for downtown Salina as they await a development agreement, which will formalize the details that relate to the STAR Bond plan, the tax increment plan and the community improvement district plans.
1889 Institute Releases New Report on TIF
The 1889 Institute recently published a paper concluding the that when it comes to TIFs, Oklahoma desperately needs greater transparency, stricter limits on how funding can be spent, and more strictly limited lifetimes and revenue sources, along other reforms mentioned in this paper.
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