Committee to consider TIF proposal
A committee appointed by the City Council to weigh the idea of creating a Tax Increment Financing district in west Lawton will look at a new funding proposal Friday.
That proposal, offered by Comanche County Western District Commissioner Alvin Cargill, would share 25 percent of the growth in ad valorem revenue in the west industrial park TIF District with all the taxing entities that normally would benefit, including Cache Public Schools and Great Plains Technology Center. The other 75 percent of that tax growth would be allocated to the apportionment fund created by the City of Lawton to fund approved expenditures in the TIF, including infrastructure, jobs training and incentives.
The City of Lawton has been asked by Republic Paperboard to create a TIF for its proposed expansion in the west industrial park.
While a project plan already had been drafted by the Oklahoma City-based Center for Economic Development Law, Lawton Mayor Stan Booker Booker said Cargill put another idea on the table last week, recommending the 75/25 percent idea “in principle.” Booker said as soon as that counter offer was made, attorney Dan Batchelor began evaluating the idea.
The new idea is merely a proposal; it has not been approved for a Skills Training, Education, Development and Investment (STEDI) Project Plan, said Booker, who, as the Lawton City Council representative, heads the review committee. Booker said Friday’s agenda will include discussion of that proposal; a final vote on the plan won’t come before the review committee before its next meeting on Nov. 13.