LAWTON, Okla. (TNN) - Lawton City Council recently appointed a committee made up of the tax entities that would be impacted by the creation of a Tax Increment Financing district in west Lawton.
“One of the things this project is seeking to do is to create a partnership between this grand vision, but also provide support for local taxing jurisdictions,” said Dan Batchelor, Chairman for the Center for Economic Development Law.
During Friday’s meeting, a second revised plan was proposed.
“So today we evaluated that counter proposal," said Stan Booker, the Mayor of the City of Lawton. "The last time we evaluated the first proposal and it’s been evaluated a lot. So, now we have two proposals.”
This plan was put forth by Comanche County Western District Commissioner Alvin Cargill.
“So what is now under discussion is some form of allocation to these taxing jurisdictions because they are important partners,” said Batchelor.
The counter proposal states that 25% of the growth revenue in the TIF district would be shared between the tax entities that would normally benefit.
“And if 25% of that went back to the taxing entities then 75% went to the TIF purposes,” said Mayor Booker.
The committee members will evaluate the proposal and discuss it further at their next schedule meeting on Wednesday, November 13th.
“They’ll be more ideas that come out," said Mayor Booker. "How can we get to the place we need to be and how can we come to a solution?”
“This is a big issue because you’re going in debt for $30 million over 25 years and your dependent on one company making the revenue stream," said Chad Hance, Superintendent of Cache Public Schools. "Now, obviously they’re saying with growth hopefully that would help offset and pay for the infrastructure, but it’s all projections.”
Although there is no guarantee and plenty of uncertainty, one thing is clear.
“A community that works together to implement a stragity will get grand results and those that don’t don’t seem to do very well,” said Batchelor.
“I do believe everybody here has the same goal and it is to grow the economy, but we all look at it through the lens of what we’re in charge of," said Mayor Booker. "So, that’s why we have to work to come together as a community, to work together, to meet the challenge.”