ITEM TITLE:
Consider approving a resolution declaring the intent to consider approval of a proposed major amendment to the Skills Training, Education, Development and Investment ("STEDI") Project Plan and creation of tax increment districts under the Local Development Act; directing preparation of a proposed amendment to the STEDI Project Plan; reconvening the review committee; directing the review committee to make findings as to eligibility and financial impact, if any, on taxing jurisdictions and business activities within the proposed increment districts; directing the review committee to make recommendation with respect to the proposed amendment to the STEDI Project Plan; directing the planning commission to determine conformance of the proposed amended project plan with the Lawton Comprehensive Plan and to make a recommendation with respect to the proposed amendment to the STEDI Project Plan.
INITIATOR: Stanley Booker - Mayor
STAFF INFORMATION SOURCE: John Ratliff - City Manager; John Andrew - City Attorney; Timothy Wilson - Deputy City Attorney
BACKGROUND: The Local Development Act was adopted by the Oklahoma Legislature to implement Section 6C of Article X of the Oklahoma Constitution, which empowers the governing bodies of cities, towns, and counties to approve project plans and to apportion tax increments to help finance the public costs of development in a project area. Through the adoption of the Skills Training, Education, Development, and Investment Project Plan, a project plan as defined under the Local Development Act ("STEDI Project Plan") the City has undertaken a long-range development strategy to (1) fund needed public improvements necessary to attract and promote new and expanded private industrial development primarily centered around the West Side Industrial Park and withing the Airport Industrial Park, and (2) foster renewed partnerships with its public schools, Great Plains Technology Center, and Cameron University for STEM educ...
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