HomeMy WebLinkAbout2016.12.13_Worksession AgendaThis meeting is a work session for Council/Trustee discussion only.
There is no opportunity for public comments at work session. J
PUBLIC NOTICE OF THE MEETING OF THE RECEIVED
OWASSO CITY COUNCIL, OPWA & OPGA DEC G ° 2016
Council Chambers, Old Central Building C;N CiDCkS C iro
109 N Birch, Owasso, OK 74055
Regular Meeting
Tuesday, December 13, 2016 - 6:00 pm
1. Call to Order
Mayor /Chair Lyndell Dunn
2. Discussion relating to the proposed Owasso Redbud District Project Plan and Increment
District No. 1
Bronce Stephenson
Emily Pomeroy, Center for Economic Development Law
3. Presentation and discussion relating to the Annual Audit for fiscal year ended June 30, 2016
and report from the Audit Committee Chair, John Manning
Linda Jones
4. Presentation and discussion relating to the Festival Park design
Larry Langford
GH2 Architects
5. Discussion relating to Community Development items
Bronce Stephenson
A. Final Plat -Glover Owasso (10505 N Owasso Expressway)
B. Final Plot- Life Point Church (10857 E 116 St N)
6. Discussion relating to Second Amended E -911 interlocai Agreement
Sherry Bishop
7. Discussion relating to Board & Committee vacancies
Juliann Stevens
8. Discussion relating to City Manager items
Warren Lehr
• Monthly sales tax report
• City Manager report
9. City Council /Trustee comments and inquiries
10. Adjournment
Notice of Public Meeting filed in the office of the City Clerk and the Agenda posted at City Hall,
200 S Main St, at 6:00 pm on Friday, December 9, 2016.
Aft J
Sherry Bishop ity Clerk
O-T fy Wit lout Limits.
TO: The Honorable Mayor and City Council
City of Owasso
FROM: Bronce L. Stephenson, MPA
Director of Community Development
SUBJECT: Owasso Redbud District Project Plan and Increment District No. 1
DATE: December 9, 2016
PUBLIC HEARING:
On December 6, the City Council held the first of two required Public Hearings on the possible
creation of a Tax Increment Financing (TIF) District in the downtown Owasso Redbud District
area. The primary purpose of the first hearing was to provide information and to answer
questions. The purpose of the second public hearing will be to give interested persons the
opportunity to express their views on the proposed plan.
PROPOSED ORDINANCE:
At the Council meeting on December 20, 2016, after the second public hearing, the Council will
be asked to take action on an ordinance approving the creation of Increment District No. 1.
The proposed ordinance would:
• Adopt and approve the Project Plan,
• Ratify and confirm the recommendations and findings of the Review Committee and the
Planning Commission,
• Create and name the Increment District,
• Define the boundaries of the Project Area and of the Increment District No. 1, and
• Approve authorizations for the City, the OPWA and the City Manager to implement the
Project Plan.
Council will also be asked to approve an emergency clause for the ordinance so the creation of
the TIF would become effective during calendar 2016.
At subsequent meetings, the Council will be asked to work with staff and consultants from
Center for Economic Development Law (CEDL) to develop a more in -depth policy document
that would outline the specifics of how the TIF funds could be spent and how the Assistance in
Development Financing would be allotted.
This proposed timeline would approve TIF District before the end of the 2016 calendar year, but
would allow the Council adequate time to create a policy document that would guide future
TIF decisions.
ATTACHMENTS:
Draft Ordinance
Project Plan
TIF Memorandum to City Council dated 12.2.2016 - with the following attachments
Proposed TIF Adoption Schedule
Eligibility Report
Financial Impacts Report
Planning Commission Resolution 2016 -02
Findings and Recommendation of the TIF Review Committee
CEDE Memorandum to OEDA dated 11. 14.16
CITY OF OWASSO, OKLAHOMA
ORDINANCE
AN ORDINANCE APPROVING AND ADOPTING THE OWASSO REDBUD
DISTRICT PROJECT PLAN PURSUANT TO THE OKLAHOMA LOCAL
DEVELOPMENT ACT; DESIGNATING AND ADOPTING PROJECT AREA
AND INCREMENT DISTRICT BOUNDARIES; ESTABLISHING A DATE FOR
THE CREATION OF INCREMENT DISTRICT NO. 1, CITY OF OWASSO;
ADOPTING CERTAIN FINDINGS; AUTHORIZING THE CITY OF OWASSO TO
CARRY OUT AND ADMINISTER THE PROJECT PLAN; ESTABLISHING A
TAX APPORTIONMENT FUND; DECLARING APPORTIONED FUNDS TO BE
SPECIAL FUNDS OF THE CITY OF OWASSO OR THE OWASSO PUBLIC
WORKS AUTHORITY; AUTHORIZING THE USE OF INCREMENT
REVENUES FOR THE PAYMENT OF CERTAIN PROJECT COSTS;
AUTHORIZING THE OWASSO PUBLIC WORKS AUTHORITY TO CARRY
OUT CERTAIN PROVISIONS OF THE PROJECT PLAN; RATIFYING AND
CONFIRMING THE ACTIONS, RECOMMENDATIONS AND FINDINGS OF
THE REVIEW COMMITTEE AND THE OWASSO PLANNING COMMISSION;
DIRECTING CONTINUING APPORTIONMENT; PROVIDING FOR
SEVERABILITY; AND DECLARING AN EMERGENCY
WHEREAS, the City of Owasso, Oklahoma ( "City ") has prepared the proposed Owasso
Redbud District Project Plan ( "Project Plan ") in accordance with the Oklahoma Local Development
Act, 62 O.S. §850, et seq. ( "Act "); and
WHEREAS, the purpose of the Project Plan is to help the City achieve its development
objectives by authorizing the appropriate and necessary public support and assistance for the
development and enhancement of the area surrounding Main Street, known as the Redbud District,
as a special and unique place within Owasso, a place to live, work, shop, and play ( "Project "); and
WHEREAS, the Project Plan supports the City's efforts to achieve its development
objectives, improve the quality of life for its citizens, stimulate private investment, and enhance the
tax base, thereby making possible investment that would be difficult without the adoption of the
Project Plan and the apportionment of incremental ad valorem and sales tax revenues; and
WHEREAS, the Owasso Redbud District Project Review Committee ("Review
Committee "), comprised of a representative of the City, a representative of the Owasso Planning
Commission ( "Planning Commission"), representatives of each of the affected taxing jurisdictions
(including Tulsa County, Owasso Public Schools, Tulsa City - County Library, Tulsa City - County
Health Department, Tulsa Community College, and Tulsa Technology Center) and three members of
the public at large, one of whom is a retailer or a representative of a retail organization, has reviewed
the Project Plan; and
WHEREAS, the Review Committee has reviewed the proposed Project Area and the
proposed ad valorem and sales tax Increment District No. 1, the City of Owasso (as defined in
Section 6 of this ordinance) ( "Increment District No. I"), in accordance with the criteria specified in
the Act and has determined that Increment District No. 1 is eligible for designation as an increment
district and for development under the Act and that the financial impacts on the affected taxing
jurisdictions and business activities from implementation of the Project Plan are positive; and
WHEREAS, the Review Committee has adopted its findings and recommends to the City
Council the approval of the Project Plan, including Increment District No. 1; and
WHEREAS, the Planning Commission has determined that the Project Plan conforms to the
GrOwasso 2030 Land Use Master Plan and is desirable; and
WHEREAS, the Planning Commission has adopted a resolution recommending to the City
Council the approval of the Project Plan, including Increment District No. l; and
WHEREAS, the Project Area, including Increment District No. 1, is partially within a state
designated enterprise zone and therefore meets the definition of an enterprise area as defined by the
Act; and
WHEREAS, the Project Area, including Increment District No. 1, meets the definition of a
reinvestment area as defined by the Act; and
WHEREAS, the projected investment and development are difficult, but possible, within the
Project Area and Increment District No. 1 if the Project Plan is adopted and implemented; and
WHEREAS, tax increment financing is a necessary component in generating economic
development in the Project Area and Increment District No. 1; and
WHEREAS, the apportioned increment revenues derived from Increment District No. l will
be used to finance eligible project costs contained in Section VIII of the Project Plan; and
WHEREAS, the establishment of the Increment District No. l will work in conjunction with
existing programs and other locally implemented economic development efforts in order to
encourage economic development in the Project Area; and
WHEREAS, the Project is expected to generate substantial new investment within Increment
District No. I and to stimulate additional indirect economic benefits outside of Increment District
No. 1 which would not occur without the Project; and
WHEREAS, the Project Plan provides tools which will supplement and not supplant or
replace normal public functions and services; and
WHEREAS, the boundaries of the Increment District No. 1 do not dissect any similar area
nor create an unfair competitive advantage; and
WHEREAS, maximum effort has been made to allow full public knowledge and
participation in the application of the Act in the review and approval of the Project Plan; and
WHEREAS, all required notices have been given and all required hearings have been held in
connection with the Project Plan, as prescribed by the Act, the Oklahoma Open Meetings Act, 25
O.S. §301, et seq., and other applicable law; and
WHEREAS, pursuant to said notice, all persons present were given an opportunity to be
heard for and against the Project Plan; and
WHEREAS, the City has the right, pursuant to the Act, to make minor amendments to the
Project Plan; and
WHEREAS, the Owasso Public Works Authority, a public trust, is authorized and
designated to carry out certain provisions of the Project Plan, pursuant to the Act; and
WHEREAS, the City deems it appropriate and desirable and in the best interest of the City
and its citizens to adopt and approve the Project Plan, including the establishment of Increment
District No. 1.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
OWASSO, OKLAHOMA THAT TO WIT:
Section 1. In order to develop the eligible Project Area, the City elects to utilize Article
10, Section 6C of the Constitution of the State of Oklahoma and the Act, which authorize the use of
local taxes for specific public investments and assistance in development financing, and which
provide for the direction of apportionment of local taxes to plan, finance, and carry out development
of unproductive, undeveloped, underdeveloped, or blighted areas as determined by the governing
body of a city, town or county.
Section 2. The Project Plan is hereby adopted and approved, as recommended by the
Owasso Planning Commission and the Review Committee. As used herein "Owasso Redbud
District Project Plan" or "Project Plan" shall mean the document dated December 20, 2016, and
comprised of one cover sheet, six pages of text, four exhibits labeled Exhibits A, B, C, and D, and
titled "Owasso Redbud District Project Plan."
Section 3. The membership of the Review Committee and all actions taken and all
recommendations and findings made in connection with the Project Plan by the Review Committee
and the Owasso Planning Commission are hereby ratified and confirmed.
Section 4. For identification purposes, the name of the increment district, which is an ad
valorem and sales tax increment district, shall be Increment District No. 1, the City of Owasso.
Section 5. Increment District No. 1 is hereby created as of the date of the adoption of this
ordinance.
Section 6. The boundaries of the Project Area and the boundaries of Increment District
No. 1 are shown on Exhibit A of the Project Plan and are hereby designated and adopted as follows:
Project Area and Increment District No. 1
Legal Description
Beginning at the southeast corner of Lot 6, Block 1 of the Owasso Industrial Park, a subdivision in
the City of Owasso, Tulsa County, Oklahoma, Thence west along said south lot line a distance of 57
feet, thence north along said lot line a distance of 283 feet, Thence west along south lot of said lot a
distance of 490 feet, Thence north along said lot line a distance of 24 feet, Thence west along said lot
line a distance of 41 feet, Thence north along said lot line a distance of 240.2 feet to the northwest
corner of said Lot 6, Thence to a point 17.45 feet north and 50.26 feet west of northwest corner of
said Lot 6, Thence west a distance of 393.5 feet to a point 149.63 feet south of the southwest comer
of Lot 1, Block 1 of Owasso Industrial Parks Phase IV, a subdivision in the City of Owasso, Tulsa
County, Oklahoma, Thence north a distance of 332.1 feet to the Northwest corner of said Lot 1,
Block 1, Thence east a distance of 87.7 feet to a point on the north lot line of said Lot 1, Block 1,
Thence north a distance of 255 feet to a point 165 feet south and 310 feet east of the southwest
corner of Lot 5, Block 1 of Ivadel, a subdivision in the City of Owasso, Tulsa County, Oklahoma,
Thence west a distance of 310 feet to a point 165 feet south of said Lot 5, Block 1, Thence north a
distance of 495 feet to the northwest corner of Lot 1, Block 1, of Ivadel, a subdivision in the City of
Owasso, Tulsa County, Oklahoma, Thence west a distance of 457.07 feet to the southwest corner of
Lot 4, Block 34, Owasso Original Town, a subdivision in the City of Owasso, Tulsa County,
Oklahoma, also a point on the east right -of -way line of the Southern Kansas Oklahoma Railroad
right -of -way, Thence north along said railroad right -of way a distance of 994.2 feet, Thence
continuing north along said railroad right -of -way a distance of 385.2 feet, Thence north a distance of
55 feet along the quarter section line to a point on the east right -of -way of said railroad, thence
northwest along said railroad right -of -way a distance of 95.2 feet, Thence west a distance of 35.7 feet
along said railroad right -of -way, Thence northwest along said railroad right -of -way a distance of
331.4 feet, Thence east a distance of 141.8 feet to a point on the east right -of -way of said railroad,
also a point on the south right -of -way of West Broadway Street, Thence northwest along said
railroad right -of -way a distance of 1213.8 feet to the to the northwest corner of Lot 11, Block 8, of
Greenlees, a subdivision in the City of Owasso, Tulsa County, Oklahoma, Thence east along said
north line of said subdivision a distance of 202.94 feet to the southwest corner of Lot 10, Block 5, of
Starlane, a subdivision in the City of Owasso, Tulsa county, Oklahoma, Thence north along the west
line of said Lot 10 a distance of 125 feet to the northwest corner of said Lot 10, also a point on the
south right -of -way of West Third Street North, a street in the City of Owasso, Thence east along said
right -of -way a distance of 885.1 feet to the northwest corner of Lot 4, Block 6, Owasso Original
Town, a subdivision in the City of Owasso, Tulsa County, Oklahoma, Thence north along the east
right -of -way of North Atlanta Street West a distance of 138.1 feet to the northwest comer of Lot 2,
Block 3 of the said subdivision, Thence east a distance of 162.1 feet to the southeast corner of Lot
16, Block 2, of Crestview Estates, a subdivision in the City of Owasso, Tulsa County, Oklahoma,
Thence north a distance of 150 feet to a point on the east line of Lot 14, Block 2 of said subdivision,
Thence east 5 feet to a point on the east line of Lot 14, Block 2 of said subdivision, Thence north
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340.4 feet to the northeast corner of Lot 9, Block 2 of said subdivision, Thence east 18.73 feet to the
southeast corner of Lot 1, Block 2 of said subdivision, Thence north along the east line of said Lot 1
a distance of 139.07 feet to the northeast corner of said lot, also a point on the south right -of -way line
of West Fourth Street North, a street in the City of Owasso, Thence east along said south right -of-
way line a distance of 121.2 to a point on the west right -of -way line of North Main Street, a street in
the City of Owasso, Thence south along said west right -of -way line a distance of 305 feet, Thence
east a distance of 75 feet to a point on the east right -of -way line of North Main Street, a street in the
City of Owasso, Thence south along the said east right -of -way line a distance of 5 feet, Thence west
75 feet to a point on the west right -of -way of said street, Thence south along the said west right -of-
way a distance of 95 feet, Thence east along said west right -of -way a distance of 5 feet, Thence south
along said west right -of -way a distance of 80.38 feet, Thence east a distance of 70 feet to a point on
the said east right -of -way line, Thence south along said east right -of -way a distance of 150 feet, also
a point on the north line of Lot 2, Block 2, of Owasso Original Town, a subdivision in the City of
Owasso, Tulsa County, Oklahoma, Thence east a distance 653.2 feet to the northeast comer of Lot
1, Block 1 of said subdivision, Thence south a distance of 453.85 feet to the southwest corner of Lot
13, Block 6, of Wilawood, a subdivision in the City of Owasso, Tulsa County, Oklahoma, Thence
east a distance of 1,190.2 feet to the southeast corner of Lot 15, Block 5 of said subdivision, also a
point on the west right -of -way of the Mingo Valley Expressway, Thence south along said right -of-
way a distance of 210 feet to northeast corner of Lot 1, Block 1, Forrest Drive Industrial Park, a
subdivision in the City of Owasso, Tulsa County, Oklahoma, Thence south along east line of said
Lot 1 a distance of 75.5 feet, Thence southwest a distance of 604.82 feet to the southeast corner of
Lot 6, Block 1, of Forrest Drive Industrial Park, a subdivision in the City of Owasso, Tulsa County,
Oklahoma, Thence west along the south line of said Lot 6, a distance of 47.58 feet, Thence south
along the right-of-way of Mingo Valley Expressway a distance of 161.4 feet, thence southwest along
said right -of -way a distance of 235.4 feet, thence southwest along said right -of -way a distance 159.1
feet, Thence west along said right -of -way a distance of 208.3 feet, Thence south along said right -of-
way a distance of 113.2 feet, Thence west 247.8 feet along said right -of -way to the southwest corner
of Safeway, a subdivision in the City of Owasso, Tulsa County, Oklahoma, Thence south 110.56 feet
to the northeast corner of Lot 1, Block 1, Dogwood Center, a subdivision in the City of Owasso,
Tulsa County, Oklahoma, Thence south along said lot east line a distance of 37.5 feet, Thence east a
distance of 257 feet to the northeast corner of Lot 1, Block 2, Owasso Business Park, a subdivision in
the City of Owasso, Tulsa County, Oklahoma, Thence south along the east line of said lot a distance
of 125 feet, Thence east along the north line of said lot a distance of 200 feet to the northeast corner
of said Lot 1, Thence southwest a distance of 247.06 feet to the southeast corner of said Lot 1,
Thence continuing southwest a distance of 42.94 feet to a point on the east line of Lot 4, Block 2, of
said subdivision, Thence southwest a distance of 303.51 feet to the southeast corner of Lot 5, Block
2 of said subdivision, Thence east a distance of 163.68 feet to the southwest corner of Lot 2, Block 3,
of said subdivision, Thence northeast a distance of 246.55 feet to a point on the west line of Lot 1,
Block 3, of said subdivision, Thence north a distance of 250.56 feet to the northwest corner of said
Lot 1, Thence southeast a distance of 35.49 feet to the northeast corner of said Lot 1, Thence
southeast a distance of 455.7 feet to the southeast corner of Lot 2, Block 3 of said subdivision, also a
point on the west right -of -way line of Mingo Valley Expressway, Thence southeast along the west
right -of -way of Mingo Valley Expressway a distance of 93.2 feet, Thence southeast along the west
right -of -way of Mingo Valley Expressway a distance of 225.1 feet, Thence south along west right -of-
way of Mingo Valley Expressway a distance of 796.9 feet to a point on the south right -of -way line of
Fifth Avenue, a street in the City of Owasso, Thence south along the west right -of -way of Mingo
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Valley Expressway a distance of 786.60 feet, Thence west a distance of 586.68 feet to the southeast
corner of Lot 6, Block 1, Owasso Industrial Park, a subdivision in the City of Owasso, Tulsa County,
Oklahoma, the Point of Beginning, containing 207 acres, more or less.
And
Beginning at the northwest corner of Lot 1, Block 1, Atchison Topeka & Santa Fe, a subdivision in
the City of Owasso, Tulsa County, Oklahoma, Thence southeast along said lot line a distance of
974.78 feet, Thence continuing southeast along the Southern Kansas Oklahoma railroad right -of -way
a distance 619.4 feet to a point on the north right -of -way of East 76th Street North, a street in the
City of Owasso, Thence continuing southeast along the said railroad right -of -way a distance of 88.7
feet to a point on the south right -of -way of East 76th Street North, Thence continuing southeast
along the said railroad right -of -way a distance of 510.6 feet, thence east along said railroad right -of-
way a distance of 19.6 feet to the east line of the N/2 NW /4 of Section 31, T -21 -N, R -13 -E, Thence
south a distance of 785.3 feet to the SE corner of said N/2 NW /4, Thence west along the south line of
said N/2 NW /4 a distance of 2,633.6 feet to a point on the east right -of -way of North Mingo Road, a
street in Tulsa County, Thence north along said east right -of -way ofNorth Mingo Road a distance of
1261.4 feet to a point on the south right -of -way of East 76th Street North, Thence east along said
south right -of -way line a distance of 1318.1 feet, Thence north along said south right -of -way line a
distance of 10.00 feet, Thence east along said south right -of -way line a distance of 215.0 feet,
Thence north a distance of 300 feet, Thence east a distance of 148 feet to a point on the west line of
Lot 1, Block 1, Atchison Topeka & Santa Fe, a subdivision in the City of Owasso, Tulsa County,
Oklahoma, Thence north along the west line of said Lot 1 a distance of 1150.6 feet to the northwest
corner of Lot 1, Block 1, Atchison Topeka & Santa Fe, the Point of Beginning, containing 94 acres,
more or less.
Section 7. The City Council hereby finds and determines:
(a) that the Project Area, including Increment District No. 1, is partially within an
enterprise area as defined by the Act;
(b) that the Project Area, including Increment District No. 1, is a reinvestment area as
defined by the Act;
(c) that the financial impacts of the Project Plan and Project on the affected taxing
jurisdictions and business activities within Increment District No. 1 are positive and that the
economic benefits for the community as a whole offset any adverse impacts;
(d) that the improvement of the Project Area is likely to enhance the value of other real
property in the area and to promote the general public interest;
(e) that the Project Plan complies with the guidelines of 62 O.S. §852, including
specifically paragraphs 1 and 2;
(f) that the aggregate net assessed value of the taxable property in all increment districts
within the City, as determined pursuant to the Act, does not exceed 35% of the total net assessed
value of the taxable property within the City;
(g) that the aggregate net assessed value of the taxable property in all increment districts
within the City, as determined pursuant to the Act, does not exceed 25% of the total net assessed
value of any affected school districts located within the City;
(h) that the land within all increment districts within the City does not exceed 25% of the
total land area of the City; and
(i) that the Project Plan is feasible and conforms to the GrOwasso 2030 Land Use Master
Plan.
Section 8. The following Project and Increment District No. 1 authorizations are hereby
approved:
(a) The City is designated as the principal entity responsible for implementation and is
authorized to carry out and administer the provisions of the Project Plan and to exercise all powers
necessary or appropriate thereto pursuant to Section 854 of the Act, and the City reserves the power
to make minor amendments to the Project Plan in accordance with Section 858(D) of the Act.
Changes in project costs incurred pursuant to Section VIII(B) of the Project Plan (those not to be
financed with apportioned tax increments) do not require an amendment; and
(b) The Owasso Public Works Authority, a public trust with the City as its sole
beneficiary, shall have the authority to carry out certain provisions of the Project Plan, including the
authority to: (1) issue tax apportionment bonds or notes, or both; (2) pledge revenues from current
and future fiscal years to repayment; (3) incur Project Costs pursuant to Section VIII of the Project
Plan; (4) provide funds to or reimburse the City for the payment of project costs and other costs
incurred in support of the implementation of the Project; and (5) incur the cost of issuance of bonds
for payment of such costs and to accumulate appropriate reserves, if any, in connection with them;
and
(c) The City Manager, Warren Lehr, or his successor in office shall be the person in
charge of implementation of the Project Plan in accordance with the provisions, authorizations, and
respective delegations of responsibilities contained in the Project Plan.
Section 9. The sales tax increment is a portion of the City's sales taxes generated within
Increment District No. 1, to be determined by a formula to be approved by resolution of the City
Council in accordance with the Act. The ad valorem increment is the ad valorem revenue in excess
of the revenue generated by the base assessed value of Increment District No. l (as determined by the
Tulsa County Assessor in accordance with the Act), i.e., the new revenue attributable to increases in
the value of property within Increment District No. 1.
Section 10. The increment of the taxes generated by Increment District No. l may be used
to pay project costs authorized by Section VIII of the Project Plan for a period not to exceed twenty -
five (25) years from the effective date of Increment District No. 1, as provided by law, or the period
required for payment of the project costs authorized by Section VIII of the Project Plan, whichever is
less.
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Section 11. During the period of apportionment, the tax apportionment fund (a) shall be
available to pay project costs under Section VIII of the Project Plan, (b) shall constitute special funds
of the City or, at the direction of the City, the Owasso Public Works Authority, a public trust, and (c)
shall not be subject to annual appropriation as a part of the general fund of the City.
Section 12. Pursuant to Section 6C of Article X of the Constitution of the State of
Oklahoma and the Act, the direction of apportionment shall continue beyond the current fiscal year
for the duration of Increment District No. 1 or the period required for the payment of project costs
authorized by the Project Plan, whichever is less.
Section 13. The Project Plan is hereby determined to be desirable and is approved.
Section 14. SEVERABILITY. If any section, subsection, sentence, clause, phrase or
portion of this ordinance is for any reason held invalid or unconstitutional, such portion shall not
affect the validity of the remaining portions of this ordinance.
Section 15. EMERGENCY CLAUSE. It being immediately necessary for the preservation
of the peace, health, safety, and public good of the City of Owasso, and the citizens thereof, that the
provisions of this ordinance take effect and be put into full force and effect, an emergency is declared
to exist by reason whereof this ordinance shall take effect immediately and be put in full force and
effect from and after the date of its enactment, as provided by law.
PASSED AND APPROVED this day of December, 2016.
Lyndell Dunn, Mayor
Sherry Bishop, City Clerk
(SEAL)
APPROVED AS TO FORM:
Julie Lombardi, City Attorney
Recommended by Review Committee
Adopted
OWASSO REDBUD DISTRICT PROJECT PLAN
INCREMENT DISTRICT NO. 1, CITY OF OWASSO
PREPARED BY:
THE CITY OF OWASSO, OKLAHOMA
G�ZY OF OWASSO 0f
9
\NO
OF THE
WITH THE ASSISTANCE OF:
CENTER FOR ECONOMIC DEVELOPMENT LAW
301 North Harvey, Suite 100
Oklahoma City, Oklahoma 73102
(405) 232 -4606
econlaw @econlaw.com
Recommended by Review Committee
OWASSO REDBUD DISTRICT PROJECT PLAN
I. INTRODUCTION
The Owasso Redbud District Project Plan is a project plan as defined under the Oklahoma Local
Development Act, 62 O.S. §850, et seq., and is referred to here as the "Project Plan." The project is
being undertaken by the City of Owasso, Oklahoma ( "City ") to develop the area surrounding Main
Street, known as the Redbud District, achieve the City's development objectives, improve the quality of
life for its citizens, stimulate private investment, and enhance the tax base. At the heart of this project is
the creation of the Redbud District as a special and unique place within Owasso, a place to live, work,
shop, and play. Beginning with the Downtown Master Plan in 2001, the City has prioritized the revival of
its Main Street and surrounding area. Since that time, through several planning documents, including
approval of the Downtown Overlay District promoting smart development in the area, and robust
branding, the Redbud District is ripe for its transformation. The City, through this Project Plan, is
continuing its effort to revive its downtown and make the Redbud District a destination area for
residents and visitors.
The effort to create such a place requires public assistance to stimulate private development.
This Project Plan is a critical element in fostering public - private partnerships to create the type of
development that the City seeks but can achieve only by means of the financing tools available under
the Oklahoma Local Development Act, including tax increment financing. An increment district provides
funding for public sector costs to stimulate private development and provide improvements to and
beautification of the area to create the dense, high - quality development that the City contemplates.
The project will be financed from a combination of public and private sources, including apportionment
of ad valorem and sales tax increments from Increment District No. 1, City of Owasso.
II. BOUNDARIES OF PROJECT AREA AND INCREMENT DISTRICT
The Project Area is the area in which project activities will take place and is generally located
within the following boundaries: beginning at the western terminus of North Carlsbad Street, east along
West 3rd Street to the east side of North Atlanta Street, north one lot, then east one lot, then north to
West 4th Street, then east along West 4th Street to North Main Street, south to one lot north of West
3rd Street, then east along West 3rd Street to one lot before Cedar Street, south to East 2nd Street, then
east along East 2nd Street to the west Owasso Expressway service road, then south along Owasso
Expressway to East 71st Street, west generally along East 71st Street to South Main Street, north to
West 5th Avenue, west to North Mingo Road, north along Mingo Road to West 2nd Avenue (E 76th St
N), east along West 2nd Avenue to the western side of the Owasso Sertoma Center, north to the
railroad tracks, then across the railroad tracks back to North Carlsbad Street and West 3rd Street.
The Increment District is designated Increment District No. 1, City of Owasso, and is the area
from which the increment is generated. Increment District No. 1 is the same area as the Project Area.
The Project Area and Increment District No. 1 boundaries are depicted on Exhibit A. The Project Area
and Increment District No. 1 boundaries are described on Exhibit B.
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Recommended by Review Committee
Ill. ELIGIBILITY OF PROJECT AREA
Most of the Project Area is an enterprise area, as defined by the Oklahoma Local Development
Act. It lies within an enterprise zone, designated by the Oklahoma Department of Commerce to be a
disadvantaged portion of the City of Owasso. All of the Project Area is a reinvestment area, as defined
by the Oklahoma Local Development Act. Public improvements are required to reverse economic
stagnation or decline, to serve as a catalyst for expanding employment, to attract investment, and to
preserve and enhance the tax base.
Investment, development, and economic growth in the area are difficult, but possible if the
provisions of the Oklahoma Local Development Act are used. The Project Area is unproductive,
undeveloped, underdeveloped, or blighted within the meaning of Article 10, §6C of the Oklahoma
Constitution, and suffers from conditions inhibiting development.
IV. OBJECTIVES
The principal objectives of the project and Increment District No. 1 are:
A. To achieve development goals and objectives for the Redbud District contained in the
Downtown Master Plan, the Downtown Overlay District Plan, and the GrOwasso 2030
Land Use Master Plan.
B. To preserve and enhance the tax base and make possible investment, development, and
economic growth that would otherwise be difficult without the project and the
apportionment of incremental ad valorem and sales tax revenues.
C. To support the creation of attractive, high - quality, and viable mixed -use developments
to draw residents and visitors.
D. Where appropriate, to support the development, improvement, and /or expansion of
light industry to increase employment.
E. To encourage existing property and business owners in the Redbud District to invest and
to attract new investment and business to the Project Area.
F. To provide start -up and incubator space to new and expanding businesses and to
promote small- business - friendly opportunities for innovation and collaboration in the
Project Area.
G. To stimulate and promote the Redbud District as a walkable, vibrant destination.
H. To provide a public benefit through the construction of public infrastructure and
improvements to allow for the development of the area.
V. STATEMENT OF PRINCIPAL ACTIONS
Implementation actions for the project, including all necessary, appropriate and supportive
steps, will consist principally of the following:
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Recommended by Review Committee
A. Project planning, design and approval.
B. Public infrastructure improvements.
C. Development of mixed -use projects, as well as retail, restaurant, residential, and office
projects.
D. Enhancement of existing businesses and encouragement of new businesses.
E. Creation of start-up and incubator spaces for new and expanding businesses.
VI. ESTABLISHMENT OF INCREMENT DISTRICT NO. 1, CITY OF OWASSO
A. This Project Plan creates Increment District No. 1, City of Owasso, an ad valorem and
sales tax increment district.
B. The sales tax increment is a portion of the City's sales taxes generated within Increment
District No. 1, to be determined by a formula to be approved by resolution of the Owasso City Council in
accordance with the Oklahoma Local Development Act.
C. The ad valorem increment is the ad valorem revenue in excess of the revenue generated
by the base assessed value of Increment District No. 1 (as determined by the Tulsa County Assessor in
accordance with the Oklahoma Local Development Act), i.e., the new revenue attributable to increases
in the value of property within Increment District No. 1.
D. The ad valorem and sales tax increment may be used to pay Project Costs authorized by
Section VIII of this Project Plan for a period not to exceed twenty -five (25) fiscal years from the effective
date of Increment District No. 1, as provided by law, or the period required for payment of the Project
Costs authorized by Section VIII, whichever is less. During the period of apportionment, the tax
apportionment fund (1) shall be available to pay Project Costs under Section VIII, (2) shall constitute
special funds of the City, or, at the direction of the City, the Owasso Public Works Authority, a public
trust, or another public entity designated by the City, and (3) shall not be subject to annual
appropriation as a part of the general fund of the City.
VII. PROJECT AND INCREMENT DISTRICT AUTHORIZATIONS
A. The City is designated and authorized as the principal public entity to carry out and
administer the provisions of this Project Plan and to exercise all powers necessary or appropriate
thereto as provided in the Oklahoma Local Development Act, 62 O.S. §854.
B. The Owasso Public Works Authority (OPWA), or another public entity designated by the
City pursuant to Section VI, is authorized and designated to carry out implementation actions for the
project, including all necessary, appropriate, and supportive steps pursuant to development agreements
with private developers. Such public entity is also authorized and designated to carry out those
provisions of the project related to issuance of bonds or notes as provided in Sections 854(8) and 863 of
the Oklahoma Local Development Act, subject to approval of the governing body of the City of any
3
Recommended by Review Committee
specific notes or bonds. OPWA is authorized to assist in carrying out this Project Plan and to exercise all
powers necessary or appropriate thereto pursuant to Section 854 of the Oklahoma Local Development
Act, except for approval of this Project Plan and those powers enumerated in paragraphs 1, 2, 3, 4, 7, 13
and 16 of Section 854. As a public entity designated by the City, OPWA or another public entity
designated by the City is authorized to: (1) issue tax apportionment bonds or notes, or both; (2) pledge
revenues from current and future fiscal years to repayment; (3) incur Project Costs pursuant to Section
VIII of this Project Plan; (4) provide funds to or reimburse the City for the payment of Project Costs and
other costs incurred in support of the implementation of the project; and (5) incur the cost of issuance
of bonds for payment of such costs and to accumulate appropriate reserves, if any, in connection with
them. Project Costs shall mean (a) the public costs authorized to be paid pursuant to Section VIII of this
Project Plan, and (b) costs necessary or appropriate to implement this Project Plan other than costs
authorized by Section VIII, which may be authorized without amendment to this Project Plan.
C. The City Manager, Warren Lehr, or his successor in office shall be the person in charge
of implementation of the Project Plan in accordance with the provisions, authorizations, and respective
delegations of responsibilities contained in this Project Plan.
Vlll. BUDGET OF ESTIMATED PROJECT COSTS TO BE FINANCED BY TAXES APPORTIONED FROM
INCREMENT DISTRICT NO. 1, CITY OF OWASSO
A. The Project Costs will be financed by the apportionment of ad valorem and sales tax
increments from Increment District No. 1. The Project Costs categories are:
Assistance in Development Financing $ 13,800,000.00
Public Infrastructure, Facilities, and Improvements $ 3,000,000.00
Implementation and Administration $ 200,000.00
TOTAL Project Costs $ 17,000,000.00
Plus any financing costs, costs of issuance, necessary or appropriate reserves, and interest on repayment
of Project Costs.
B. Additional costs necessary or appropriate to implement this Project Plan that are to be
financed by other than apportioned tax increments may be approved by the City at any time. The
provisions of this Section VIII are not a limitation on Project Costs to be financed by other than
apportioned tax increments.
C. Assistance in Development Financing will be provided only for projects that are
determined, in the City's and /or OPWA's discretion: (1) to meet the City's approved development goals
and objectives for the Project Area, as expressed from time to time in the City's plans and policies, and
(2) to provide adequate consideration and public benefit in return for the public investment.
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Recommended by Review Committee
IX. FINANCING PLAN AND REVENUE SOURCES
A. Financing Plan.
Some public improvements, in anticipation of private investment, will be funded by the City
from sources other than apportioned tax increments, which may be reimbursed once increment is
generated by the development within Increment District No. 1.
Private developers within the Project Area may be required to construct the necessary
improvements for specific projects at their initial expense. The financing of private developments will
be provided by private equity and private financing. Most Project Costs incurred in connection with the
implementation of the Project Plan will be financed on a pay -as- you -go basis.
B. Financing Authorizations.
Without assistance, development of this type and on this scale within the Project Area would
not occur. The implementation of the Project Plan shall be financed in accordance with financial
authorizations, authorized from time to time by the City.
C. Financing Revenue Sources.
The revenue sources expected to finance Project Costs authorized by Section VIII are the
incremental ad valorem and sales tax revenues attributable to investment and development within
Increment District No. 1.
D. Financial Reports and Audits.
The development activities undertaken by the City, pursuant to this Project Plan, shall be
accounted for and reported by the appropriate and necessary annual fiscal year audits and reports.
E. Other Necessary and Supporting Costs.
OPWA or another public entity designated by the City pursuant to Section VI, is authorized to
issue bonds and notes and to apply for and obtain grants from other sources for costs incurred or to be
incurred in connection with the project and the construction of improvements therein in addition to
Project Costs to be financed pursuant to Section VIII.
X. PRIVATE AND PUBLIC INVESTMENTS EXPECTED FOR THE PROJECT
A. Private and Public Investments Expected from the project and Increment District No. 1.
The total private investment in the Project Area if fully realized is estimated to exceed
$100,000,000.00. Private investment in Increment District No. 1 is expected to consist of new mixed -use
developments, expansion of existing businesses, creation of new businesses, development of new retail,
restaurant, residential, and office projects, and light industrial development (where appropriate). Public
investment will include public infrastructure improvements and assistance in development financing to
support private investment and enhance new and existing businesses.
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Recommended by Review Committee
B. Public Revenue Estimated to Accrue from the Project and Increment District No. 1.
The estimated incremental increases in tax revenue, which will serve as the revenue source for
financing the Project Costs authorized by Section VIII, is the public revenue directly attributable to the
project described herein. Both the City and the State will experience increases in tax revenues that are
not a part of Increment District No. 1. Ad valorem taxing entities will experience additional revenues
from increasing values within the surrounding area but outside of Increment District No. 1.
Incremental sales tax revenues are estimated to range between $35,000 and $75,000 annually.
Incremental ad valorem revenues are estimated to range between $280,000 and $1,350,000 annually.
Total incremental revenues estimated to be generated over the 25 -year lifespan of Increment District
No. 1 range between $18,000,000 and $25,000,000.
The developments anticipated by the project will not result in a measurable increase in demand
for services by or in costs to the affected taxing entities. The economic benefits of the project for the
affected taxing jurisdictions indicate positive financial impacts for the entire community. The aggregate
impacts from implementation of the Project Plan are positive and include the achievement of the
objectives set forth in Section IV.
XI. LAND USE
Existing uses and conditions of real property in Increment District No. 1 are shown on the
attached Exhibit C. A map showing the proposed improvements to and proposed uses of the real
property in Increment District No. 1 is attached Exhibit D. Implementation of the Project Plan requires
no changes to the GrOwasso 2030 Land Use Master Plan or zoning. The Project Plan complies with the
objectives and priorities of the GrOwasso 2030 Land Use Master Plan.
11
Exhibit A
Project Area and Increment District No.1 Boundaries
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Exhibit B
Project Area and Increment District No. 1 Boundaries Legal Description
Section A
Beginning at the southeast corner of Lot 6, Block 1 of the Owasso Industrial Park, a subdivision
in the City of Owasso, Tulsa County, Oklahoma, Thence west along said south lot line a distance
of 57 feet, thence north along said lot line a distance of 283 feet, Thence west along south lot of
said lot a distance of 490 feet, Thence north along said lot line a distance of 24 feet, Thence
west along said lot line a distance of 41 feet, Thence north along said lot line a distance of 240.2
feet to the northwest corner of said Lot 6, Thence to a point 17.45 feet north and 50.26 feet
west of northwest corner of said Lot 6, Thence west a distance of 393.5 feet to a point 149.63
feet south of the southwest corner of Lot 1, Block 1 of Owasso Industrial Parks Phase IV, a
subdivision in the City of Owasso, Tulsa County, Oklahoma, Thence north a distance of 332.1
feet to the Northwest corner of said Lot 1, Block 1, Thence east a distance of 87.7 feet to a
point on the north lot line of said Lot 1, Block 1, Thence north a distance of 255 feet to a point
165 feet south and 310 feet east of the southwest corner of Lot 5, Block 1 of Ivadel, a
subdivision in the City of Owasso, Tulsa County, Oklahoma, Thence west a distance of 310 feet
to a point 165 feet south of said Lot 5, Block 1, Thence north a distance of 495 feet to the
northwest corner of Lot 1, Block 1, of Ivadel, a subdivision in the City of Owasso, Tulsa County,
Oklahoma, Thence west a distance of 457.07 feet to the southwest corner of Lot 4, Block 34,
Owasso Original Town, a subdivision in the City of Owasso, Tulsa County, Oklahoma, also a
point on the east right -of -way line of the Southern Kansas Oklahoma Railroad right -of -way,
Thence north along said railroad right -of way a distance of 994.2 feet, Thence continuing north
along said railroad right -of -way a distance of 385.2 feet, Thence north a distance of 55 feet
along the quarter section line to a point on the east right -of -way of said railroad, thence
northwest along said railroad right -of -way a distance of 95.2 feet, Thence west a distance of
35.7 feet along said railroad right -of -way, Thence northwest along said railroad right -of -way a
distance of 331.4 feet, Thence east a distance of 141.8 feet to a point on the east right -of -way
of said railroad, also a point on the south right -of -way of West Broadway Street, Thence
northwest along said railroad right -of -way a distance of 1213.8 feet to the to the northwest
corner of Lot 11, Block 8, of Greenlees, a subdivision in the City of Owasso, Tulsa County,
Oklahoma, Thence east along said north line of said subdivision a distance of 202.94 feet to the
southwest corner of Lot 10, Block 5, of Starlane, a subdivision in the City of Owasso, Tulsa
county, Oklahoma, Thence north along the west line of said Lot 10 a distance of 125 feet to the
northwest corner of said Lot 10, also a point on the south right -of -way of West Third Street
North, a street in the City of Owasso, Thence east along said right -of -way a distance of 885.1
feet to the northwest corner of Lot 4, Block 6, Owasso Original Town, a subdivision in the City of
1
Owasso, Tulsa County, Oklahoma, Thence north along the east right -of -way of North Atlanta
Street West a distance of 138.1 feet to the northwest corner of Lot 2, Block 3 of the said
subdivision, Thence east a distance of 162.1 feet to the southeast corner of Lot 16, Block 2, of
Crestview Estates, a subdivision in the City of Owasso, Tulsa County, Oklahoma, Thence north a
distance of 150 feet to a point on the east line of Lot 14, Block 2 of said subdivision, Thence east
5 feet to a point on the east line of Lot 14, Block 2 of said subdivision, Thence north 340.4 feet
to the northeast corner of Lot 9, Block 2 of said subdivision, Thence east 18.73 feet to the
southeast corner of Lot 1, Block 2 of said subdivision, Thence north along the east line of said
Lot 1 a distance of 139.07 feet to the northeast corner of said lot, also a point on the south
right -of -way line of West Fourth Street North, a street in the City of Owasso, Thence east
along said south right -of -way line a distance of 121.2 to a point on the west right -of -way line of
North Main Street, a street in the City of Owasso, Thence south along said west right -of -way
line a distance of 305 feet, Thence east a distance of 75 feet to a point on the east right -of -way
line of North Main Street, a street in the City of Owasso, Thence south along the said east right -
of -way line a distance of 5 feet, Thence west 75 feet to a point on the west right -of -way of said
street, Thence south along the said west right -of -way a distance of 95 feet, Thence east along
said west right -of -way a distance of 5 feet, Thence south along said west right -of -way a
distance of 80.38 feet, Thence east a distance of 70 feet to a point on the said east right -of -way
line, Thence south along said east right -of -way a distance of 150 feet, also a point on the north
line of Lot 2, Block 2, of Owasso Original Town, a subdivision in the City of Owasso, Tulsa
County, Oklahoma, Thence east a distance 653.2 feet to the northeast corner of Lot 1, Block 1
of said subdivision, Thence south a distance of 453.85 feet to the southwest corner of Lot 13,
Block 6, of Wilawood, a subdivision in the City of Owasso, Tulsa County, Oklahoma, Thence east
a distance of 1,190.2 feet to the southeast corner of Lot 15, Block 5 of said subdivision, also a
point on the west right -of -way of the Mingo Valley Expressway, Thence south along said right -
of -way a distance of 210 feet to northeast corner of Lot 1, Block 1, Forrest Drive Industrial Park,
a subdivision in the City of Owasso, Tulsa County, Oklahoma, Thence south along east line of
said Lot 1 a distance of 75.5 feet, Thence southwest a distance of 604.82 feet to the southeast
corner of Lot 6, Block 1, of Forrest Drive Industrial Park, a subdivision in the City of Owasso,
Tulsa County, Oklahoma, Thence west along the south line of said Lot 6, a distance of 47.58
feet, Thence south along the right -of -way of Mingo Valley Expressway a distance of 161.4 feet,
thence southwest along said right -of -way a distance of 235.4 feet, thence southwest along said
right -of -way a distance 159.1 feet, Thence west along said right -of -way a distance of 208.3 feet,
Thence south along said right -of -way a distance of 113.2 feet, Thence west 247.8 feet along
said right -of -way to the southwest corner of Safeway, a subdivision in the City of Owasso, Tulsa
County, Oklahoma, Thence south 110.56 feet to the northeast corner of Lot 1, Block 1,
Dogwood Center, a subdivision in the City of Owasso, Tulsa County, Oklahoma, Thence south
along said lot east line a distance of 37.5 feet, Thence east a distance of 257 feet to the
3
northeast corner of Lot 1, Block 2, Owasso Business Park, a subdivision in the City of Owasso,
Tulsa County, Oklahoma, Thence south along the east line of said lot a distance of 125 feet,
Thence east along the north line of said lot a distance of 200 feet to the northeast corner of
said Lot 1, Thence southwest a distance of 247.06 feet to the southeast corner of said Lot 1,
Thence continuing southwest a distance of 42.94 feet to a point on the east line of Lot 4, Block
2, of said subdivision, Thence southwest a distance of 303.51 feet to the southeast corner of Lot
5, Block 2 of said subdivision, Thence east a distance of 163.68 feet to the southwest corner of
Lot 2, Block 3, of said subdivision, Thence northeast a distance of 246.55 feet to a point on the
west line of Lot 1, Block 3, of said subdivision, Thence north a distance of 250.56 feet to the
northwest corner of said Lot 1, Thence southeast a distance of 35.49 feet to the northeast
corner of said Lot 1, Thence southeast a distance of 455.7 feet to the southeast corner of Lot 2,
Block 3 of said subdivision, also a point on the west right -of -way line of Mingo Valley
Expressway, Thence southeast along the west right -of -way of Mingo Valley Expressway a
distance of 93.2 feet, Thence southeast along the west right -of -way of Mingo Valley Expressway
a distance of 225.1 feet, Thence south along west right -of -way of Mingo Valley Expressway a
distance of 796.9 feet to a point on the south right -of -way line of Fifth Avenue, a street in the
City of Owasso, Thence south along the west right -of -way of Mingo Valley Expressway a
distance of 786.60 feet, Thence west a distance of 586.68 feet to the southeast corner of Lot 6,
Block 1, Owasso Industrial Park, a subdivision in the City of Owasso, Tulsa County, Oklahoma,
the Point of Beginning, containing 207 acres, more or less.
RITIa
Section B
Beginning at the northwest corner of Lot 1, Block 1, Atchison Topeka & Santa Fe, a subdivision
in the City of Owasso, Tulsa County, Oklahoma, Thence southeast along said lot line a distance
of 974.78 feet, Thence continuing southeast along the Southern Kansas Oklahoma railroad
right -of -way a distance 619.4 feet to a point on the north right -of -way of East 76th Street North,
a street in the City of Owasso, Thence continuing southeast along the said railroad right -of -way
a distance of 88.7 feet to a point on the south right -of -way of East 76th Street North, Thence
continuing southeast along the said railroad right -of -way a distance of 510.6 feet, thence east
along said railroad right -of -way a distance of 19.6 feet to the east line of the N/2 NW /4 of
Section 31, T -21 -N, R -13 -E, Thence south a distance of 785.3 feet to the SE corner of said N/2
NW /4, Thence west along the south line of said N/2 NW /4 a distance of 2,633.6 feet to a point
on the east right -of -way of North Mingo Road, a street in Tulsa County, Thence north along said
east right -of -way of North Mingo Road a distance of 1261.4 feet to a point on the south right -
of -way of East 76th Street North, Thence east along said south right -of -way line a distance of
1318.1 feet, Thence north along said south right -of -way line a distance of 10.00 feet, Thence
0
east along said south right -of -way line a distance of 215.0 feet, Thence north a distance of 300
feet, Thence east a distance of 148 feet to a point on the west line of Lot 1, Block 1, Atchison
Topeka & Santa Fe, a subdivision in the City of Owasso, Tulsa County, Oklahoma, Thence north
along the west line of said Lot 1 a distance of 1150.6 feet to the northwest corner of Lot 1,
Block 1, Atchison Topeka & Santa Fe, the Point of Beginning, containing 94 acres, more or less.
C!
EXhIbIt C
Existing Uses and Conditions
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Proposed Improvements and Uses
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TO: The Honorable Mayor and City Council
City of Owasso
FROM: Bronce L. Stephenson, MPA -
Director of Community Development
SUBJECT: Public Hearing - Owasso Redbud District Project Plan and Increment District No. 1
DATE: December 2, 2016
PUBLIC HEARING:
The City Council is holding one of the two required Public Hearings on the possible creation of a
Tax Increment Financing (TIF) District in the downtown Owasso Redbud District area. The primary
purpose of the first hearing will be to provide information and to answer questions. The purpose
of the second public hearing shall be to give interested persons the opportunity to express their
views on the proposed plan.
TAX INCREMENT FINANCING:
The Oklahoma Constitution authorizes the development or redevelopment of areas determined
by a city, town, or county to be unproductive, undeveloped, underdeveloped, or blighted. The
Local Development Act provides tools to be used in cases where investment, development, and
economic growth in an area are difficult but possible if the Act is used.
One of the Act's tools is tax increment financing (TIF), which allows a city, town or county to
direct the apportionment of an increment of certain local taxes and fees to finance public
project costs in order to stimulate development in an area (the TIF district and the project area).
The increment is (a) the portion of ad valorem taxes produced by the increased value of the
property in the TIF district, measured from the date the ordinance creating the district is passed,
and /or (b) the portion of sales taxes collected each year that are generated by the projects in
the TIF district, as determined by a formula approved by the governing body.
The TIF district is established by the development and approval of a project plan, which specifies
the project area, the boundaries of the increment district, the objectives for the project area,
the activities to be carried out in furtherance of those objectives, and the costs.
BACKGROUND:
For many months, the City of Owasso has looked into the development of a Tax Increment
Financing District covering the downtown Owasso Redbud District area. Staff enlisted the help
of the Center for Economic Development Law (CEDL) to assist with the possible creation of a TIF
District. CEDL has assisted staff in ensuring that all statutory requirements have been met, and
has provided professional expertise in the area of TIF development and implementation.
As part of the analysis of a potential TIF, a parcel -by- parcel analysis of the TIF area was
performed. This analysis tries to determine the potential development that could take place on
each parcel and a timeline of when the development could take place. Staff ensured that very
conservative estimates were used when creating the TIF documents.
The TIF and its possible creation were discussed by the City Council at the August, September,
October and November Council work sessions. A TIF District was also discussed by the Owasso
Economic Development Authority during their August & November meetings. The Owasso
Planning Commission discussed TIF at their September, October and November regular
meetings.
TIMELINE:
Oklahoma State Statutes define a specific process for the creation of a TIF District. The following
outlines the process and target date for the creation of the TIF:
Steps for Considering and Creating a TIF District:
1. Governing Body Initiation of Process.
a. Governing body resolution establishes the review committee and appoints its
representative.
b. The Review Committee consists of:
1. A representative of the governing body, to serve as chairperson;
2. A representative of the planning commission, if applicable;
3. A representative designated by each taxing jurisdiction within the proposed TIF
district whose ad valorem taxes might be impacted by the project; and
4. Three members (at least one of whom represents the business community)
representing the public at -large and selected by the other Review Committee
members from a list of seven names submitted by the chairperson of the committee.
2. Review Committee Consideration.
a. Committee elects at -large members.
b. Committee studies proposed project and makes findings on eligibility of proposed project
area and TIF district.
c. Committee makes findings on financial impacts of proposed project upon affected
taxing jurisdictions and business activities in the proposed TIF district.
d. Committee makes a recommendation regarding approval of proposed project and
creation of TIF district.
3. Planning Commission Review.
a. Planning commission determines whether proposed project plan conforms with
comprehensive (master) plan, if applicable.
b. Planning commission makes a recommendation regarding approval of proposed project
plan.
4. Governing Body Consideration and Approval.
a. Governing body must hold two public hearings before adoption of a project plan — one
to provide information, including an analysis of potential impacts, and to answer questions,
and a second to give interested persons the opportunity to express their views on the
proposed project plan.
b. Governing body considers the findings and recommendation of the review committee
and the resolution and recommendation of the planning commission, if applicable.
c. Governing body makes final determination that the proposed TIF district meets the
eligibility criteria of the statute, including that the project area is an enterprise area, a
historic preservation area, or a reinvestment area.
d. Governing body makes finding that the improvement of the area is likely to enhance the
value of other real property in the area and to promote the general public interest.
e. Governing body adopts ordinance (or resolution) approving the project and establishing
the TIF district.
TIF REVIEW COMMITTEE:
On September 20, City Council approved Resolution 2016 -15 creating the TIF Review Committee.
The Review Committee consisted of the following members:
CITY OF OWASSO REPRESENTATIVES:
• Owasso City Council - Lyndell Dunn, Mayor
• Owasso Planning Commission- David Vines, Commissioner
TAXING JURISDICTIONS:
• Owasso Public Schools - Dr. Clark Ogilvie, Superintendent
• TulsaTech - Deidre Howard, Director of Finance
• Tulsa Community College - Sean Weins, VP of Administration
• Tulsa City /County Health Department- Reggie Ivey, COO
• Tulsa City /County Library - Gail Morris, CFO
• Tulsa County -John Smaligo, Commissioner
AT- LARGE:
• At Large T (Retail /Business Representative) - Heather Manuel, Urban Owasso
• At Large 2 - Nick Kila, Edward Jones
• At Large 3- Dr. Jason Drake, Drake Chiropractic
The Review Committee, per Oklahoma State Statute, is tasked with making findings as to the
eligibility of the TIF; making a recommendation on the proposed Project Plan; and making
findings as to the Financial Impact of the taxing jurisdictions.
After three meetings, the Review Committee voted unanimously (11 -0) to recommend approval
of the Owasso Redbud District Project Plan and Increment District No. 1.
PLANNING COMMISSION:
The Owasso Planning Commission held a public hearing at a Special Meeting on November 21,
2016. The Planning Commission voted unanimously (4 -0) to recommend approval of Owasso
Redbud District Project Plan and Increment District No. 1, finding that the proposed TIF District is
in compliance with the GrOwasso 2030 Land Use Master Plan,
The TIF information has been placed on the City of Owasso website for public viewing and
notice of the two required public hearings has been posted and published in the public notice
section of the Tulsa World and the Owasso Reporter.
TIF ELIGIBILITY:
In order to establish a tax increment finance district, Section 856(8) (4) (a) of the Act requires that
the governing body adopt an ordinance that contains a finding that the Project Area or
Increment District meets one of the following criteria: (1) is a reinvestment area, (2) is a historic
preservation area, (3) is an enterprise area, or (4) is a combination of the areas specified in
divisions (1), (2) and (3) of this subparagraph. Please reference the attached "Eligibility Report."
A large part of the Project Area and Increment District is an enterprise area. All of the Project
Area and Increment District is a reinvestment area. Therefore, consistent with the Act's
requirements, the Project Area and Increment District is eligible for the establishment of a tax
increment district.
FINANCIAL IMPACT:
The ad valorem tax revenue generated from the base assessed value of property within the
increment district is distributed to the taxing jurisdictions according to each jurisdiction's levy.
Throughout the life of the project, the base revenue will continue to flow to the taxing
jurisdictions. In the event of a general reassessment of property values within the increment
district, the ad valorem tax revenue received by the taxing jurisdictions will be proportionately
adjusted. To this extent, the taxing jurisdictions are not affected by the implementation of tax
increment financing through ad valorem apportionment.
Once development of the property within the increment district occurs, the market value
increases, and so the assessed value of that property also increases. The difference between the
ad valorem tax revenue produced by this increased value and that produced by the base
assessed value —the incremental increase or increment —is apportioned (i.e. allotted) to an
apportionment fund that is used to pay the eligible public costs of the project either directly or
through the issuance of bonds.
This apportionment of ad valorem tax increments will continue for the lesser of a period of 25
fiscal years from the date of approval or until all eligible public costs are paid. Once the tax
apportionment period expires, the revenue from the increased assessed value of property within
the increment district will be divided among the taxing jurisdictions, in addition to the revenue
from the base assessed value that these entities will have continued to receive.
The proposed project will have a positive long -term financial benefit for the Owasso community,
affected taxing jurisdictions, and business activities. Correspondingly, no appreciable adverse
impact is likely to result from the project for the taxing jurisdictions or business activities within the
Project Area. The impact of anticipated development on the provision of governmental services
is balanced by the public improvements and infrastructure component in the Project Plan,
which addresses public costs associated with the project and minimizes the burden of providing
additional government services.
PROJECT PLAN:
The Owasso Redbud District Project Plan is a project plan as defined under the Oklahoma Local
Development Act, 62 O.S. §850, et seq., and is referred to here as the "Project Plan." The project
is being undertaken by the City of Owasso, Oklahoma ( "City ") to develop the area surrounding
Main Street, known as the Redbud District, achieve the City's development objectives, improve
the quality of life for its citizens, stimulate private investment, and enhance the tax base.
At the heart of this project is the creation of the Redbud District as a special and unique place
within Owasso, a place to live, work, shop, and play. Beginning with the Downtown Master Plan
in 2001, the City has prioritized the revival of its Main Street and surrounding area. Since that
time, through several planning documents, including approval of the Downtown Overlay District
promoting smart development in the area, and robust branding, the Redbud District is ripe for its
transformation. The City, through this Project Plan, is continuing its effort to revive its downtown
and make the Redbud District a destination area for residents and visitors.
The effort to create such a place requires public assistance to stimulate private development.
This Project Plan is a critical element in fostering public - private partnerships to create the type of
development that the City seeks but can achieve only by means of the financing tools available
under the Oklahoma Local Development Act, including tax increment financing.
An increment district provides funding for public sector costs to stimulate private development
and provide improvements to and beautification of the area to create the dense, high - quality
development that the City contemplates. The project will be financed from a combination of
public and private sources, including apportionment of ad valorem and sales tax increments
from Increment District No. 1, City of Owasso.
RECOMMENDATION:
Staff recommends the City Council hold a public hearing to provide information and to answer
questions on the Owasso Redbud District Project Plan and Increment District No. 1,
ATTACHMENTS:
Proposed TIF Adoption Schedule
Eligibility Report
Project Plan Recommended by Review Committee & Planning Commission
Financial Impacts Report
Planning Commission Resolution 2016 -02
Findings and Recommendation of the TIF Review Committee
Memo from CEDL to OEDA regarding impact of TIF on Owasso Public Schools
DATE
September 20, 2016
September 29, 2016
October 25, 2016
October 27, 2016
November 1, 2016
November 3, 2016
November 10, 2016
November 15, 2016
November 17, 2016
November 21, 2016
OWASSO REDBUD DISTRICT PROJECT
Proposed Adoption Schedule
Sun Mon Tue Wad Thu Fd Set
1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30
Sun Mon Tue Wad Thu Fri Set
1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30
EVENT
Sun Mon Too Wad Thu Fri Sat
1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
Sun Mon Too Wad Thu Fri Sat
1 2 3
5 6 7 8 9 10
11 12 13 14 15 18 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31
City Council resolution declaring intent to consider Project Plan and
appointing Review Committee
Letters to affected taxing jurisdictions requesting Review Committee
member selections
Post Agenda of Review Committee first meeting
Review Committee first meeting
Post Agenda of Review Committee second meeting
Review Committee second meeting
Economic Development Authority meeting
Post Agenda of Review Committee third meeting
Review Committee third meeting
Planning Commission meeting — resolution re: conformance with
DRAFT 11 -4 -16
Subject to review and update
Comprehensive Plan
November 21, 2016 Newspaper publication and website posting of notice of public
hearings; Project Plan and Economic Impacts Report on City Website
and at City Clerk's office
November 21, 2016 Notice of Hearings Mailed/Emailed to Registrants
December 6, 2016 City Council First Public Hearing of Ordinance Establishing TIF
December 20, 2016 City Council Second Public Hearing of Ordinance Establishing TIF
December 22, 2016 Request for determination of Base Assessed Value by County
Assessor; request for determination of sales tax base
December 22, 2016 Notice to Oklahoma Tax Commission and Oklahoma Department of
Commerce
Spring, 2017 Notice to School District of opportunity to protest Base Assessed
Value (send immediately after County Assessor certifies Base
Assessed Value)
DRAFT 11 -4 -16
Subject to review and update
OWASSO REDBUD DISTRICT PROJECT PLAN
INCREMENT DISTRICT NO. 1, CITY OF OWASSO
ELIGIBILITY REPORT
PREPARED BY:
THE CITY OF OWASSO, OKLAHOMA
WITH THE ASSISTANCE OF:
CENTER FOR ECONOMIC DEVELOPMENT LAW
301 North Harvey, Suite 100
Oklahoma City, Oklahoma 73102
(405) 232 -4606
econlaw @econlaw.com
OWASSO REDBUD DISTRICT PROJECT PLAN
ELIGIBILITY REPORT
11 ��It11lMeNtal220431 tol I
The Owasso Redbud District Project Plan ( "Project Plan ") is being undertaken by the City of
Owasso, Oklahoma ( "City ") in order to develop the area surrounding Main Street, known as the Redbud
District, achieve the City's development objectives, improve the quality of life for its citizens, stimulate
private investment, and enhance the tax base. At the heart of the project is the creation of the Redbud
District as a special and unique place within Owasso, a place to live, work, shop, and play. Such a goal
requires public assistance to stimulate private development. The Project Plan is a critical element in
fostering public - private partnerships to create the type of development that the City seeks but can achieve
only by means of the financing tools available under the Oklahoma Local Development Act, 62 O.S. § 850,
et seq. ( "Act ").
II. BOUNDARIES Of PROJECT AREA AND INCREMENT DISTRICT
The boundaries of the Project Area and Increment District are the same and are generally located
within the following boundaries: beginning at the western terminus of North Carlsbad Street, east along
West 3rd Street to the east side of North Atlanta Street, north one lot, then east one lot, then north to
West 4th Street, then east along West 4th Street to North Main Street, south to one lot north of West 3rd
Street, then east along West 3rd Street to one lot before Cedar Street, south to East 2nd Street, then east
along East 2nd Street to the west Owasso Expressway service road, then south along Owasso Expressway
to East 71st Street, west generally along East 71st Street to South Main Street, north to West 5th Avenue,
west to North Mingo Road, north along Mingo Road to West 2nd Avenue (E 76th St N), east along West
2nd Avenue to the western side of the Owasso Sertoma Center, north to the railroad tracks, then across
the railroad tracks back to North Carlsbad Street and West 3rd Street.
The Project Area and Increment District boundaries are depicted on Exhibit A. The Project Area
and Increment District boundaries are described on Exhibit B.
TI�441CIM14 14019]I11;1I01 �
In order to establish a tax increment finance district, Section 856(B)(4)(a) of the Act requires that
the governing body adopt an ordinance that contains a finding that the Project Area or Increment District
meets one of the following criteria: (1) is a reinvestment area, (2) is a historic preservation area, (3) is an
enterprise area, or (4) is a combination of the areas specified in divisions (1), (2) and (3) of this
subparagraph. The Project Area qualifies as a combination of areas.
A. Enterprise Area. A large portion of the Project Area and Increment District qualifies as an
enterprise area under the Act. Such portion has been designated as an Enterprise Zone by the Oklahoma
Department of Commerce. Therefore, it meets the relevant grounds for eligibility as an enterprise area.
Sections 853(5) and (6) of the Act define an "enterprise area" as "an enterprise zone as designed by the
Department of Commerce pursuant to the provisions of Section 690.3 of this title or as designated by the
federal government." A current map of Oklahoma Department of Commerce Enterprise Zones in the
Project Area and Increment District is attached as Exhibit C.
B. Reinvestment Area. The Project Area and Increment District also qualifies as a
reinvestment area under the Act. 62 O.S. §853(17) defines "reinvestment area" as:
any area located within the limits of a city, town or county requiring public improvements,
including but not limited to transportation - related projects identified by any
transportation authority pursuant to Section 1370.7 of Title 68 of the Oklahoma Statutes,
to reverse economic stagnation or decline, to serve as a catalyst for retaining or
expanding employment, to attract major investment in the area orto preserve or enhance
the tax base or in which fifty percent (50 %) or more of the structures in the area have an
age of thirty -five (35) years or more. Such an area is detrimental to the public health,
safety, morals or welfare. Such an area may become a blighted area because of any one
or more of the following factors: dilapidation; obsolescence; deterioration; illegal use of
individual structures; presence of structures below minimum code standards;
abandonment; excessive vacancies; overcrowding of structures and community facilities;
lack of ventilation, light or sanitary facilities; inadequate utilities; excessive land coverage;
deleterious land use or layout; depreciation of physical maintenance; and lack of
community planning. Such an area includes a blighted area as defined in Section 38 -101
of Title 11 of the Oklahoma Statutes at the time of approval of the project plan.
The Project Area and Increment District qualifies as a reinvestment area because it lies in an area
requiring public improvements to reverse economic stagnation and attract investment. The condition and
capacity of water and sewer lines in the Project Area cannot withstand additional development. The
utilities are inadequate and require upgrade to support the City's objectives. The poor condition of streets
and alleys, as well as a lack of public parking, negatively impact the ability to attract investment and
expand employment in the area.
C. Eligibility. A large part of the Project Area and Increment District is an enterprise area.
All of the Project Area and Increment District is a reinvestment area. Therefore, consistent with the Act's
requirements, the Project Area and Increment District is eligible for the establishment of a tax increment
district.
IV. EXHIBITS
A. Project Area and Increment District Boundaries Map
B. Project Area and Increment District Legal Description
C. Partial Project Area and Increment District Enterprise Zone Map
41
Exhibit A
Project Area and Increment District No.1 Boundaries
a
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,
Exhibit B
Project Area and Increment District No. 1 Boundaries Legal Description
Beginning at the southeast corner of Lot 6, Block 1 of the Owasso Industrial Park, a subdivision
in the City of Owasso, Tulsa County, Oklahoma, Thence west along said south lot line a distance
of 57 feet, thence north along said lot line a distance of 283 feet, Thence west along south lot of
said lot a distance of 490 feet, Thence north along said lot line a distance of 24 feet, Thence
west along said lot line a distance of 41 feet, Thence north along said lot line a distance of 240.2
feet to the northwest corner of said Lot 6, Thence to a point 17.45 feet north and 50.26 feet
west of northwest corner of said Lot 6, Thence west a distance of 393.5 feet to a point 149.63
feet south of the southwest corner of Lot 1, Block 1 of Owasso Industrial Parks Phase IV, a
subdivision in the City of Owasso, Tulsa County, Oklahoma, Thence north a distance of 332.1
feet to the Northwest corner of said Lot 1, Block 1, Thence east a distance of 87.7 feet to a
point on the north lot line of said Lot 1, Block 1, Thence north a distance of 255 feet to a point
165 feet south and 310 feet east of the southwest corner of Lot 5, Block 1 of Ivadel, a
subdivision in the City of Owasso, Tulsa County, Oklahoma, Thence west a distance of 310 feet
to a point 165 feet south of said Lot 5, Block 1, Thence north a distance of 495 feet to the
northwest corner of Lot 1, Block 1, of Ivadel, a subdivision in the City of Owasso, Tulsa County,
Oklahoma, Thence west a distance of 457.07 feet to the southwest corner of Lot 4, Block 34,
Owasso Original Town, a subdivision in the City of Owasso, Tulsa County, Oklahoma, also a
point on the east right -of -way line of the Southern Kansas Oklahoma Railroad right -of -way,
Thence north along said railroad right -of way a distance of 994.2 feet, Thence continuing north
along said railroad right -of -way a distance of 385.2 feet, Thence north a distance of 55 feet
along the quarter section line to a point on the east right -of -way of said railroad, thence
northwest along said railroad right -of -way a distance of 95.2 feet, Thence west a distance of
35.7 feet along said railroad right -of -way, Thence northwest along said railroad right -of -way a
distance of 331.4 feet, Thence east a distance of 141.8 feet to a point on the east right -of -way
of said railroad, also a point on the south right -of -way of West Broadway Street, Thence
northwest along said railroad right -of -way a distance of 1213.8 feet to the to the northwest
corner of Lot 11, Block 8, of Greenlees, a subdivision in the City of Owasso, Tulsa County,
Oklahoma, Thence east along said north line of said subdivision a distance of 202.94 feet to the
southwest corner of Lot 10, Block 5, of Starlane, a subdivision in the City of Owasso, Tulsa
county, Oklahoma, Thence north along the west line of said Lot 10 a distance of 125 feet to the
northwest corner of said Lot 10, also a point on the south right -of -way of West Third Street
North, a street in the City of Owasso, Thence east along said right -of -way a distance of 885.1
feet to the northwest corner of Lot 4, Block 6, Owasso Original Town, a subdivision in the City of
Owasso, Tulsa County, Oklahoma, Thence north along the east right -of -way of North Atlanta
Street West a distance of 138.1 feet to the northwest corner of Lot 2, Block 3 of the said
1
subdivision, Thence east a distance of 162.1 feet to the southeast corner of Lot 16, Block 2, of
Crestview Estates, a subdivision in the City of Owasso, Tulsa County, Oklahoma, Thence north a
distance of 150 feet to a point on the east line of Lot 14, Block 2 of said subdivision, Thence east
5 feet to a point on the east line of Lot 14, Block 2 of said subdivision, Thence north 340.4 feet
to the northeast corner of Lot 9, Block 2 of said subdivision, Thence east 18.73 feet to the
southeast corner of Lot 1, Block 2 of said subdivision, Thence north along the east line of said
Lot 1 a distance of 139.07 feet to the northeast corner of said lot, also a point on the south
right -of -way line of West Fourth Street North, a street in the City of Owasso, Thence east
along said south right -of -way line a distance of 121.2 to a point on the west right -of -way line of
North Main Street, a street in the City of Owasso, Thence south along said west right -of -way
line a distance of 305 feet, Thence east a distance of 75 feet to a point on the east right -of -way
line of North Main Street, a street in the City of Owasso, Thence south along the said east right -
of -way line a distance of 5 feet, Thence west 75 feet to a point on the west right -of -way of said
street, Thence south along the said west right -of -way a distance of 95 feet, Thence east along
said west right -of -way a distance of 5 feet, Thence south along said west right -of -way a
distance of 80.38 feet, Thence east a distance of 70 feet to a point on the said east right -of -way
line, Thence south along said east right -of -way a distance of 150 feet, also a point on the north
line of Lot 2, Block 2, of Owasso Original Town, a subdivision in the City of Owasso, Tulsa
County, Oklahoma, Thence east a distance 653.2 feet to the northeast corner of Lot 1, Block 1
of said subdivision, Thence south a distance of 453.85 feet to the southwest corner of Lot 13,
Block 6, of Wilawood, a subdivision in the City of Owasso, Tulsa County, Oklahoma, Thence east
a distance of 1,190.2 feet to the southeast corner of Lot 15, Block 5 of said subdivision, also a
point on the west right -of -way of the Mingo Valley Expressway, Thence south along said right -
of -way a distance of 210 feet to northeast corner of Lot 1, Block 1, Forrest Drive Industrial Park,
a subdivision in the City of Owasso, Tulsa County, Oklahoma, Thence south along east line of
said Lot 1 a distance of 75.5 feet, Thence southwest a distance of 604.82 feet to the southeast
corner of Lot 6, Block 1, of Forrest Drive Industrial Park, a subdivision in the City of Owasso,
Tulsa County, Oklahoma, Thence west along the south line of said Lot 6, a distance of 47.58
feet, Thence south along the right -of -way of Mingo Valley Expressway a distance of 161.4 feet,
thence southwest along said right -of -way a distance of 235.4 feet, thence southwest along said
right -of -way a distance 159.1 feet, Thence west along said right -of -way a distance of 208.3 feet,
Thence south along said right -of -way a distance of 113.2 feet, Thence west 247.8 feet along
said right -of -way to the southwest corner of Safeway, a subdivision in the City of Owasso, Tulsa
County, Oklahoma, Thence south 110.56 feet to the northeast corner of Lot 1, Block 1,
Dogwood Center, a subdivision in the City of Owasso, Tulsa County, Oklahoma, Thence south
along said lot east line a distance of 37.5 feet, Thence east a distance of 257 feet to the
northeast corner of Lot 1, Block 2, Owasso Business Park, a subdivision in the City of Owasso,
Tulsa County, Oklahoma, Thence south along the east line of said lot a distance of 125 feet,
2
Thence east along the north line of said lot a distance of 200 feet to the northeast corner of
said Lot 1, Thence southwest a distance of 247.06 feet to the southeast corner of said Lot 1,
Thence continuing southwest a distance of 42.94 feet to a point on the east line of Lot 4, Block
2, of said subdivision, Thence southwest a distance of 303.51 feet to the southeast corner of Lot
5, Block 2 of said subdivision, Thence east a distance of 163.68 feet to the southwest corner of
Lot 2, Block 3, of said subdivision, Thence northeast a distance of 246.55 feet to a point on the
west line of Lot 1, Block 3, of said subdivision, Thence north a distance of 250.56 feet to the
northwest corner of said Lot 1, Thence southeast a distance of 35.49 feet to the northeast
corner of said Lot 1, Thence southeast a distance of 455.7 feet to the southeast corner of Lot 2,
Block 3 of said subdivision, also a point on the west right -of -way line of Mingo Valley
Expressway, Thence southeast along the west right -of -way of Mingo Valley Expressway a
distance of 93.2 feet, Thence southeast along the west right -of -way of Mingo Valley Expressway
a distance of 225.1 feet, Thence south along west right -of -way of Mingo Valley Expressway a
distance of 796.9 feet to a point on the south right -of -way line of Fifth Avenue, a street in the
City of Owasso, Thence south along the west right -of -way of Mingo Valley Expressway a
distance of 786.60 feet, Thence west a distance of 586.68 feet to the southeast corner of Lot 6,
Block 1, Owasso Industrial Park, a subdivision in the City of Owasso, Tulsa County, Oklahoma,
the Point of Beginning, containing 207 acres, more or less.
And
Beginning at the northwest corner of Lot 1, Block 1, Atchison Topeka & Santa Fe, a subdivision
in the City of Owasso, Tulsa County, Oklahoma, Thence southeast along said lot line a distance
of 974.78 feet, Thence continuing southeast along the Southern Kansas Oklahoma railroad
right -of -way a distance 619.4 feet to a point on the north right -of -way of East 76th Street North,
a street in the City of Owasso, Thence continuing southeast along the said railroad right -of -way
a distance of 88.7 feet to a point on the south right -of -way of East 761h Street North, Thence
continuing southeast along the said railroad right -of -way a distance of 510.6 feet, thence east
along said railroad right -of -way a distance of 19.6 feet to the east line of the N/2 NW /4 of
Section 31, T -21 -N, R -13 -E, Thence south a distance of 785.3 feet to the SE corner of said N/2
NW /4, Thence west along the south line of said N/2 NW /4 a distance of 2,633.6 feet to a point
on the east right -of -way of North Mingo Road, a street in Tulsa County, Thence north along said
east right -of -way of North Mingo Road a distance of 1261.4 feet to a point on the south right -
of -way of East 76th Street North, Thence east along said south right -of -way line a distance of
1318.1 feet, Thence north along said south right -of -way line a distance of 10.00 feet, Thence
east along said south right -of -way line a distance of 215.0 feet, Thence north a distance of 300
feet, Thence east a distance of 148 feet to a point on the west line of Lot 1, Block 1, Atchison
Topeka & Santa Fe, a subdivision in the City of Owasso, Tulsa County, Oklahoma, Thence north
3
along the west line of said Lot 1 a distance of 1150.6 feet to the northwest corner of Lot 1,
Block 1, Atchison Topeka & Santa Fe, the Point of Beginning, containing 94 acres, more or less.
Exhibit C
Enterprise Zone Designation
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OWASSO REDBUD DISTRICT PROJECT PLAN
INCREMENT DISTRICT NO. 1, CITY OF OWASSO
FINANCIAL IMPACTS REPORT
PREPARED BY:
THE CITY OF OWASSO, OKLAHOMA
GtTY OF OWASSO O
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OF THE SPP'�/
WITH THE ASSISTANCE OF:
CENTER FOR ECONOMIC DEVELOPMENT LAW
301 North Harvey, Suite 100
Oklahoma City, Oklahoma 73102
(405) 232 -4606
econlaw @econlaw.com
OWASSO REDBUD DISTRICT PROJECT PLAN
FINANCIAL IMPACTS REPORT
HOW TAX INCREMENT FINANCING WORKS
Under the mechanism of tax increment financing, two geographic areas are defined. The first is
the project area. This is the area in which project expenditures may be made. The second geographic area
is the increment district. This is the area from which the tax increment will be generated. The project area
and increment district may or may not be co- extensive. The value of property within the increment district
is determined upon approval of the project plan. This becomes the base assessed value of all taxable
property within the increment district. The ad valorem tax revenue generated from this base assessed
value of property within the increment district is distributed to the taxing jurisdictions according to each
jurisdiction's levy. Throughout the life of the project, the base revenue will continue to flow to the taxing
jurisdictions. In the event of a general reassessment of property values within the increment district, the
ad valorem tax revenue received by the taxing jurisdictions will be proportionately adjusted. To this
extent, the taxing jurisdictions are not affected by the implementation of tax increment financing through
ad valorem apportionment.
Once development of the property within the increment district occurs, the market value
increases, and so the assessed value of that property also increases. The difference between the ad
valorem tax revenue produced by this increased value and that produced by the base assessed value —
the incremental increase or increment —is apportioned (i.e. allotted) to an apportionment fund that is
used to pay the eligible public costs of the project either directly or through the issuance of bonds. This
apportionment of ad valorem tax increments will continue forthe lesser of a period of 25 fiscal years from
the date of approval or until all eligible public costs are paid. Once the tax apportionment period expires,
the revenue from the increased assessed value of property within the increment district will be divided
among the taxing jurisdictions, in addition to the revenue from the base assessed value that these entities
will have continued to receive.
Y i:1 �ti7Z��j � ii77ti71�h r
The proposed Owasso Redbud District Project Plan is a project plan as defined under the
Oklahoma Local Development Act, 62 O.S. §850, et seq., and is referred to here as the "Project Plan."
The boundaries of the proposed Project Area and Increment District No. 1, City of Owasso
( "Increment District") are the same and are generally located within the following boundaries: beginning
at the western terminus of North Carlsbad Street, east along West 3rd Street to the east side of North
Atlanta Street, north one lot, then east one lot, then north to West 4th Street, then east along West 4th
Street to North Main Street, south to one lot north of West 3rd Street, then east along West 3rd Street to
one lot before Cedar Street, south to East 2nd Street, then east along East 2nd Street to the west Owasso
Expressway service road, then south along Owasso Expressway to East 71st Street, west generally along
East 71st Street to South Main Street, north to West 5th Avenue, west to North Mingo Road, north along
Mingo Road to West 2nd Avenue (E 76th St N), east along West 2nd Avenue to the western side of the
Owasso Sertoma Center, north to the railroad tracks, then across the railroad tracks back to North
Carlsbad Street and West 3rd Street.
The Project Plan anticipates private investment in the Project Area to exceed $100 million over a
period of 25 years. Development will consist of a range of commercial, residential (single family and
multifamily), mixed -use, and where appropriate, industrial. This new development is estimated to
increase market and assessed values for property within the Increment District, which, in turn, will result
in annual ad valorem tax revenues ( "ad valorem increments') of approximately $280,000 in the nearterm
and 1,350,000 overthe long term. Additionally, increases in City sales tax revenue ( "sales tax increments ")
are estimated to be approximately $35,000 annually in the near term and $75,000 over the long term.
Total incremental revenues estimated to be generated over the life of the Increment District range
between $18,000,000 and $25,000,000.
The projections are based upon the impacts of the total $100 million in private taxable
investment. Projects such as those contemplated by the Project Plan have both direct and indirect
economic benefits. They have design and construction impacts, which are generally one -time impacts.
They also have continued annual impacts after completion.
III. IMPACTS AND EFFECTS ON TAXING JURISDICTIONS
A. Overall Financial Impacts upon the Affected Taxing Jurisdictions. Under the Project Plan,
all incremental revenues will be apportioned to the apportionment fund for use by the Owasso Public
Works Authority, or another public entity designated by the City, to pay for authorized project costs. Once
the Increment District terminates, the increments shall be distributed pursuant to ad valorem and sales
tax statutes.
The benefits of projected development under this project will be significant for the affected taxing
jurisdictions and for the greater community. The actual increase in demand for services, if any, will be
limited for those taxing jurisdictions, with potential increases in demand discussed in Section III, B herein.
The Increment District at present contains a number of vacant, underperforming, or tax exempt
parcels that generate very little or no ad valorem tax and sales tax revenues. The current assessed value
within the Increment District at the time of project approval will continue as the basis for allocating the
tax revenue to the taxing jurisdictions during the life of the project. Since funding rates for bonded
indebtedness are calculated using the base assessed value within the Increment District, repayment of
bonded indebtedness will not be affected.
Concentrated and continuous stimulation of the development of the area, as contemplated by
the Project Plan, will result in a greatly- enhanced ad valorem tax base, from which all of the affected
taxing jurisdictions will benefit. In addition, the benefits of new employment in the community will result
in benefits to the affected taxing jurisdictions. Finally, the generation of sales taxes in this
underperforming area will benefit the City.
B. Specific Effects from the $100 Million Private Growth.
1. Owosso Public Schools. Owasso Public Schools will experience little to no
measurable negative impact as a result of the project because much of the development will be
stimulated by public assistance and investment in the area (e.g., the construction and
development of new adjacent public or private infrastructure, and the provision of development
financing assistance as prescribed in the Project Plan). Owasso Public Schools has several facilities
li
in the Project Area that improved public infrastructure will enhance. The value of property owned
by Owasso Public Schools will increase due to development throughout the Project Area.
The residential portion of development may generate, over time, a small increase in
demand for services from Owasso Public Schools, although the type of residential development
will likely be more in demand by non -child households. Residential development in a mixed -use,
medium density environment often appeals to a younger and near - retirement demographic.
Owasso Public Schools will experience a positive fiscal impact from the project. Currently,
Owasso Public Schools is collecting an estimated $47,000 annually in ad valorem revenues from
within the Increment District when accounting for state school aid offsets. Upon termination of
the Increment District, it is estimated that annual ad valorem revenues of $220,000, generated
by increased development due tothe project, will flow to Owasso Public Schools, based on current
millage rates and accounting for state school aid offsets.
2. Tulsa County. No specific measurable demand for increased services upon Tulsa
County is anticipated to result from this project.
3. Tulsa Health Department. The Tulsa Health Department is positively affected by
new employment that the project will generate. The promotion of the Project Area as a highly
walkable, mixed -use district will support public health initiatives of the Tulsa Health Department.
4. Tulsa City - County Library. The Tulsa -City County Library serves the entire
metropolitan area, including a branch in the Project Area. Public infrastructure improvements in
the surrounding area will positively affect the branch. Also, due to its location within the Project
Area, residential and mixed -use development will contribute to the most immediate, day -to -day
clientele for this facility. Commercial and industrial development should not affect this facility
outside of increased exposure.
5. Tulsa Technology Center. The Tulsa Technology Center has a branch in Owasso,
but the campus is not adjacent to the Project Area. Therefore, the development should have
minimal impact on demand for services, although complementary job training opportunities,
including, but not limited to, culinary arts training in restaurants in the Project Area, may be
utilized.
6. Tulsa Community College. Impacts to the Tulsa Community College from the
project should be similar to those of the Tulsa Technology Center, with minimal impact on
demand for services, although complementary job training opportunities may be utilized
depending on the nature of the commercial and residential development
7. City of Owasso. The creation of mixed -use development in the Increment District
will generate new sales taxes for the City. The proposed developments are not expected to
significantly pull sales away from existing retailers within the City outside of the Increment District
because they will occupy different positions within the marketplace, including boutique shops and
restaurants that do not currently exist within the City. Also, the project will generate significant
development and investment in an underserved and underdeveloped part of the City, thus having
additional desired and positive impacts on the City.
IV. IMPACTS ON BUSINESS ACTIVITIES
Isolating the specific impacts of the Increment District on the greater community is difficult, but
through correlation of demands for residential and commercial space within the Increment District, a
meaningful calculation of effects on business activities is possible. Residential and commercial
developments reflect corresponding growth in economic demands fora spectrum of business activities in
the retail, commercial, office and industrial categories.
As public and private development occurs, construction will result in temporary jobs and
completion of development projects will result in permanent jobs, particularly in commercial, industrial
and mixed -used developments. The development of an estimated 200 residential units in the Project Area
will result in additional household income of $13,110,0001. The increased presence of individuals living
and working in the Project Area will further stimulate demand for development, establishing a well -
rounded mixed -use district. Further, the increased presence of individuals will increase the opportunity
of potential customers for new and existing businesses in the Project Area.
V. CONCLUSION
The projected project will have a positive long -term financial benefit for the Owasso community,
affected taxing jurisdictions, and business activities. Correspondingly, no appreciable adverse impact is
likely to result from the project for the taxing jurisdictions or business activities within the Project Area.
The impact of anticipated development on the provision of governmental services is balanced by the
public improvements and infrastructure component in the Project Plan, which addresses public costs
associated with the project and minimizes the burden of providing additional government services.
I Median Family Income (2014 ACS Census Estimate) = $65,550
OWASSO PLANNING COMMIS
RESOLUTION NO. 2016-02
RESOLUTION DETERMINING THAT THE OWASSO REDBUD DISTRICT
PROJECT PLAN IS IN CONFORMANCE WITH THE GROWASSO 2030 LAND
USE MASTER PLAN AND RECOMMENDING TO THE CITY OF OWASSO
APPROVAL AND ADOPTION OF THE OWASSO REDBUD DISTRICT
121031" 0 9w"111
WHEREAS, it is an objective of the City of Owasso, Oklahoma ( "City"), to
promote economic development within its boundaries in order to attract investment,
enhance the tax base, stimulate economic growth, and improve the quality of life in and
around the City; and
WHEREAS, the City envisions the development of its Redbud District as a new
destination area within the City, consisting of infill development with commercial,
residential, office, industrial, and mixed -use components, as well as improved
streetscapes and pedestrian accessibility ( "Project "); and
WHEREAS, the Project will promote the public good, general welfare, economic
security, and prosperity of the City and its inhabitants; and
WHEREAS, the Owasso Redbud District Project Plan ( "Project Plan") is a
project plan as defined under the Oklahoma Local Development Act, 62 O.S. §850, et
seq.; and
WHEREAS, the provisions of the Oklahoma Local Development Act provide
procedures for approval of a project to develop a qualified area such as the project area;
and
WHEREAS, the Owasso Redbud District Project Review Committee, including a
representative of the Owasso Planning Commission, has recommended the approval of
the Project Plan after finding the project eligible and determining that the Project Plan
will make a positive impact on affected taxing jurisdictions and business activities within
the increment district; and
WHEREAS, the Owasso Planning Commission has reviewed the GrOwasso
2030 Land Use Master Plan and the Project Plan; and
WHEREAS, the Project Plan is appropriate and desirable in order to support
efforts to achieve the objectives of the GrOwasso 2030 Land Use Master Plan; and
WHEREAS, the Owasso Planning Commission finds it appropriate and desirable
to recommend to the City Council of the City that it approve and adopt the Project Plan.
NOW, THEREFORE, BE IT RESOLVED BY THE OWASSO PLANNING
COMMISSION THAT:
Section One: The Owasso Redbud District Project Plan is hereby
declared to be in conformance with the GrOwasso 2030 Land Use
Master Plan.
Section Two: The Owasso Redbud District Project Plan is determined to
be desirable.
Section Three: Recommendation is hereby made to the City Council of the
City of Owasso that it approve and adopt the Owasso Redbud
District Project Plan.
PASSED AND APPROVED this 21st day of November, 2016.
Ch it
",^`, ,Marsha Hensley, Planning Commi sion Clerk
i (SEAL)
APPROVED AS TO FORM:
I• /'
Jul; Lombardi, City Attorney
FINDINGS AND RECOMMENDATION OF
THE OWASSO REDBUD DISTRICT PROJECT
REVIEW COMMITTEE
After review of the proposed Owasso Redbud District Project Plan ( "Project Plan "), the
proposed establishment of ad valorem and sales tax Increment District No. 1, City of Owasso,
and such other information as deemed relevant, the Owasso Redbud District Project Review
Committee ("Review Committee ") makes the following findings and recommendation:
A. Findings Regarding Eligibility of the Proposed Proiect Area and Increment District
1. The proposed Project Area and the proposed Increment District No. 1, City of
Owasso ( "Increment District"), are partially within a state designated enterprise
zone and therefore meet the definition of an "enterprise area" under the Local
Development Act (62 O.S. § 853(5)).
2. The proposed Project Area and the proposed Increment District No. 1, City of
Owasso ( "Increment District "), meet the definition of an "reinvestment area"
under the Local Development Act (62 O.S. § 853(17)).
3. The level of investment, development, and economic growth desired by the City
of Owasso is difficult, but possible, within the proposed Project Area and
Increment District if the provisions of the Local Development Act are utilized.
4. Tax increment financing is a necessary component in stimulating reinvestment in
the proposed Project Area and Increment District.
5. Tax increment financing will be used to supplement and not supplant or replace
normal public functions and services in the proposed Project Area and Increment
District.
6. Tax increment financing will be used in conjunction with existing programs and
efforts and other locally implemented economic development efforts.
7. The Project Plan emphasizes conservation, preservation, and rehabilitation.
B. Findings Regarding Financial Impact on the Affected Taxing Jurisdictions and
Business Activities Within the Proposed Project Area and Increment District
As described in Section X of the Project Plan, the anticipated private development
will generate tax increments sufficient to pay a substantial portion of the
authorized project costs of the project proposed by the Project Plan. Without the
Project Plan and Increment District, the development described in the Project Plan
and the resulting increases in tax revenues would not occur.
2. The development anticipated by the project will not result in a measurable
increase in demand for services by or in costs to the affected taxing jurisdictions.
3. The public revenue anticipated to result from the development described in the
Project Plan includes increased tax revenue beyond the revenues being
apportioned to pay project costs authorized by the Project Plan.
4. The economic benefits of the Project Plan for the affected taxing jurisdictions and
the community as a whole offset the adverse financial impacts, if any, of the
Project Plan on the affected taxing jurisdictions.
5. The aggregate impacts on the affected taxing jurisdictions and on business
activities from implementation of the Project Plan are positive and include the
achievement of the objectives set forth in Section IV of the Project Plan.
Resolution Recommending Approval
NOW, WHEREAS, the Review Committee has reviewed the proposed Project Plan and
Increment District; and
WHEREAS, the findings of the Review Committee demonstrate that the proposed
Project Area and Increment District meet the conditions for eligibility; and
WHEREAS, the findings of the Review Committee demonstrate that the financial
impacts on the affected taxing jurisdictions and business activities from implementation of the
Project Plan are positive; and
WHEREAS, the findings of the Review Committee demonstrate that approval of the
Project Plan by the City of Owasso is appropriate.
NOW, THEREFORE, BE IT RESOLVED by the Owasso Redbud District Project
Review Committee that approval of the proposed Owasso Redbud District Project Plan,
including creation of the proposed ad valorem and sales tax Increment District No. 1, City of
Owasso, is hereby recommended.
ADOPTED by the Owasso Redbud District Project Review Committee this 4 day of
November, 2016, and SIGNED by its Chair.
APPROVED•
Lyn II D6nn, Chair
2
I, Juliann M. Stevens, Acting Secretary of the Owasso Redbud District Project Review
Committee, certify that the foregoing resolution was duly adopted at a special meeting of the
Owasso Redbud District Project Review Committee, held at City Hall in Owasso, Oklahoma, on
the 17th day of November, 2016; that said meeting was held in accordance with the Open
Meeting Act of the State of Oklahoma; that any notice required to be given of such meeting
was properly given; that a quorum was present at all times during such meeting; and that said
resolution was adopted by a majority of those present.
J iann M. Stevens, Acti g Secretary
1 CENTER FOR ECONOMIC
;e DEVELOPMENT LAW
MEMORANDUM
James Dan Batchelor
Leslie P. Batchelor
Emily K. Pomeroy
Lisa M. Harden
Jeff Sabin
301 North Harvey, Suite 100
Oklahoma City, Oklahoma
7 ;102 -) +21
405 2;24606TELEPHONE
405 232 5010 FACSIMILE
www.cconlaw.com
To: Owasso Economic Development Authority
From: Emily K. Pomeroy and Cameron H. Brewer
Date: November 14, 2016
Re: Effect of Owasso Redbud District Project Plan on Owasso Public Schools
The purpose of this memorandum is to provide additional information about the impact
of the proposed Owasso Redbud District Project Plan and Increment District No. 1, City of
Owasso ( "Increment District'), on the Owasso Public Schools ( "OPS "). The projections
represent an estimate of potential revenues, based on an analysis of the possible development
in the Increment District. Such analysis is helpful in understanding how the adoption of the
Increment District will impact OPS.
The Limited Size and Value of the Increment District
OPS is one of the largest school districts in the State of Oklahoma, incorporating 72
square miles (shown below in red), including territory in Tulsa and Rogers Counties. The
Increment District (shown below in green) is 13,143,615 square feet, which is less than half of
a square mile (.47 square miles) or 0.6% of the OPS school district, in terms of area.
Limestone
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OEDA
November 14, 2016
Page 2
The 2015 assessed value of real property within the Increment District is approximately
$4,498,480. This represents 1.6% of the total assessed value within the OPS district for
property located in Tulsa County ($280,178,368), and an estimated less than 1.1% when
including OPS district property located in Rogers County.
Current Revenues and Projected Revenues
Currently, OPS is collecting approximately $317,881 annually in ad valorem revenues,
from within the Increment District, which, when state school aid offsets are accounted for,
amounts to approximately $47,531 annually. These revenues will continue to flow to OPS
through the life of the Increment District. Upon termination, which is anticipated to occur
during Year 20, OPS will experience a significant increase in annual ad valorem revenues
generated by increased development. Based on projected development, when the Increment
District ends, OPS will collect approximately $1,492,919 annually in ad valorem revenues
from within the Increment District, which, which, when state school aid offsets are accounted
for, amounts to approximately $223,228 annually. Table 1 shows the projected tax increment
generation, projected end of the TIF, and associated revenues to OPS.
Table 1: TIF Tar Increment Generation Projections & Revenue to Owasso Public Schools
Pra*W End ofTIF Term
!Projection Model
2016
! 2017
1 2018
2035
2036
2040
Year
1
1
1 2
1
20 1 21
$
5
25
495,292 — - —
1,830.835
Exis"Ad Valorem
Nev, Ad Valorem
Increment
Cunulalve Increment
Sales Tax
$
S
S
$
S
495,292',
_ _.__ -.
495,292.
-
-
$ 495,292
S 495,292
$ -
S -
S
S 495,292
$ 506,327
S 11,035
$ 11,035
$ 15,000
$ 495,292
S 1,830,835
$ 495,292
$ 1,030,835
$ 1,335,543 $ 1,335,543
$ 15,395,131 $ 16,730.675
$ 67,722 $ 67,722
S
S
S
$
1,335,543
22,072,847 '..
67,722
23,476,112
Total Tax Generalon $ - $ - $ 37.070
It 16,798,397 It 18,133,940
SFM1g $ 113,001.09 $ 113,1)M.09 $ 113,001.09 $ 113,001.09 $ 113,001.09 $ 113,001.09. _ $ 530,706.97
Bukln9fund S 23,343.59 ! $ 23,343.59 S 23,343.59 $ 23,343.59 S 23.343.59 8 _ 233 435
ADA $ 1830.94 1 $ 18,130.94 $ 18,130.94 $ 18,130.94 $ 18,130.94 $ 189 9 $ 109,632.61
_ S 85,151.54
Counywke General $ 163,405.11 S 163,405.11 $ 163,405.11 $ 163,405.11 $ 163,405.11 $ 163,405.11 _ E 767,428.24
$ 317,88D.74 $ 317,880.74 ! $ 317,800.74 $ 317,890.74 $ 317,880.74 $ 317,880.74 $ _ 1,492,919.35
Valorem Dollar ReceNed' $ 0.15 S 0.151 $ 0.151
NetBenett- Revenue $ 47,530,94
'A=unEilr Stale SdwalAid Mae;
$ 0.15 $ 0.15
S 47,53D.94 1 $ 223,227.93
Also, important to the discussion of OPS funding, the state school aid formula reduces
the amount of state aid OPS receives and a certain amount of the ad valorem revenue OPS
receives. Sinking fund levies by their nature are not available for OPS's general operating
revenues. The attached Table 2 shows a summary of OPS mill levies. The foundation aid
portion of the state school aid formula charges OPS for its ad valorem taxes collected by its
15.45 -mill levy (as adjusted) enacted pursuant to Article X, Section 9(c) of the Oklahoma
Constitution and for 75% of its allocation from the countywide school levy. The state school
aid formula's salary incentive aid effectively offsets an additional 20 mills. Thus, the state
school aid offsets effectively reduce OPS's operational mill levy from 45.21 to approximately
6.76. That means OPS has a net positive benefit —in terms of increased operational revenue-
Mo.
November 14, 2016
Page 3
of only $0.15 for every $ 1.00 in ad valorem revenue it receives. The Increment District will
not impact the state school aid offsets.
Sinkine Fund Levies
The sinking fund levy is determined following the approval of bond issues in order to
yield enough funds to pay the principal and interest on the bonds. For each bond issuance, the
number of mills levied will vary in terms of the size of the bond, the tern on the bond, and the
interest rate. This method of determination does not change should the Increment District be
created. If the Increment District is established, the value of the property within the Increment
District as of the date the Increment District is created (the base assessed value) is still available
to calculate the sinking fund levy. Increases in property values in the Increment District will
not be used in calculating the sinking fond levy. The ability of OPS to issue debt will not be
impacted. The base assessed value within the Increment District as well as property values
outside of the Increment District will be used to calculate the sinking fund levy and ensure
enough funds for OPS to pay its current and future bonded indebtedness.
Conclusion
Relative to the size of the OPS district, the Increment District covers a small geographic
area. Likewise, the assessed value of property in the Increment District is relatively small
because the area has seen little economic development activity. The creation of the Increment
District is an effort to reverse economic stagnation and increase the value of property in the
Increment District and surrounding area, resulting in additional ad valorem revenues for the
affected taxing jurisdictions. The creation of the Increment District will not reduce OPS's
ability to collect sufficient funds to pay its current debt or issue new debt.
We appreciate your interest in the process of the consideration of the Owasso Redbud
District Project Plan and Increment District, notably for its impact on OPS. If we can address
additional questions, please do not hesitate to contact us.
Table 2: Owasso Public Schools Mill Levy Summary
a
1. Assumptions:
a. Approximates the effective value of the Countywide School Levy.
b. Assumes full adjusted allowable millage levies.
2. "Operational Mill Levy" (excludes sinking fund) = (General Fund Levies) + (Building Fund Levies) +(Countwide School Levy)
3. 'Net Effective Mill Levy—Real' = [Operational Mill Levy] - [Foundation Aid State School Aid Offset] - [Salary Incentive Aid State School Aid
Offset]; Net Effective Mill Levy—Real = [(General Fond Levies) + (Building Fund Levies) + (Countywide School Levy)] - [(Art. X § 9(c) Levy)
+ (75% of Countwide School Levy)] - [20 -mill Salary Incentive Aid offset]
4. "Net Effective Mill Levy-- Personal" = [Operational Mill Levy] -179% of Foundation Aid State School Aid Offset] - [79% of Salary Incentive
Aid State School Aid Offset]; Net Effective M01 Levy — Personal = [(General Fund Levies) + (Building Fund Levies) +(Countywide School Levy)]
- [79% of ((Art. 9(c) Levy) + (75% of Countwide School Levy))] - [79% of 20 -mill Salary Incentive Aid Offset]
5. School districts receive the benefit of their full operational mill levies once ad valorem taxes collected from their Art. X SSS 9(c) levy and 75%
of their allocation of the countywide school levy meet or exceed the districts gross Foundation Aid amount in the state school aid calculation;
assumes district has no land earnings and no chargeable gross production, motor vehicle, or REA tax revenues.
6. Assumes district has no land earnings and no gross production, motor vehicle, or REA tax revenues chargeable in the state aid formula.
Art. )( §9a)
5.15
LL
Art. X § 9(c)
15.45
Art. 1L § 9(d)(1)
10.30
Art. x § 9(d)
5.15
CD
TOTAL
36.05
Building Fund Levy
5.16
Countywide School Levy
4.00
0 erational Mill Levv2
45.21
Net Effective Mill Levy--Real'
6.76
Net Benefit Per Operational Ad Valorem Dollar Received - -Real
$0.15
1. Assumptions:
a. Approximates the effective value of the Countywide School Levy.
b. Assumes full adjusted allowable millage levies.
2. "Operational Mill Levy" (excludes sinking fund) = (General Fund Levies) + (Building Fund Levies) +(Countwide School Levy)
3. 'Net Effective Mill Levy—Real' = [Operational Mill Levy] - [Foundation Aid State School Aid Offset] - [Salary Incentive Aid State School Aid
Offset]; Net Effective Mill Levy—Real = [(General Fond Levies) + (Building Fund Levies) + (Countywide School Levy)] - [(Art. X § 9(c) Levy)
+ (75% of Countwide School Levy)] - [20 -mill Salary Incentive Aid offset]
4. "Net Effective Mill Levy-- Personal" = [Operational Mill Levy] -179% of Foundation Aid State School Aid Offset] - [79% of Salary Incentive
Aid State School Aid Offset]; Net Effective M01 Levy — Personal = [(General Fund Levies) + (Building Fund Levies) +(Countywide School Levy)]
- [79% of ((Art. 9(c) Levy) + (75% of Countwide School Levy))] - [79% of 20 -mill Salary Incentive Aid Offset]
5. School districts receive the benefit of their full operational mill levies once ad valorem taxes collected from their Art. X SSS 9(c) levy and 75%
of their allocation of the countywide school levy meet or exceed the districts gross Foundation Aid amount in the state school aid calculation;
assumes district has no land earnings and no chargeable gross production, motor vehicle, or REA tax revenues.
6. Assumes district has no land earnings and no gross production, motor vehicle, or REA tax revenues chargeable in the state aid formula.
nTity W i Limits.
TO: The Honorable Mayor and City Council
City of Owasso
FROM: Linda Jones
Finance Director
SUBJECT: Annual Audit
DATE: December 9, 2016
BACKGROUND:
At the end of each fiscal year (June 30) the Owasso City Charter and State Statutes require the
city to have an annual audit performed by a certified public accountant. The city's Finance
Department is responsible for the coordination and preparation of the annual audit. The annual
audit is the basis for communicating the financial condition of the city and its affiliated entities.
In August 2006, City Council took the progressive action of establishing an Audit Committee by
Ordinance. The Audit Committee has been a vital component in achieving transparency for the
citizens of Owasso and the governing body. The Audit Committee is comprised of five voting
members and two ex- officio non - voting members. The committee is required to include one
banker, one business person one non - practicing certified public accountant, and a City
Councilor in the second year of their term. Current members include John Manning, Chair, non -
practicing C.P.A.; Kevin Cavanah, CFO of Matrix Services; Guion Nightingale, businessperson
with Williams Companies; Jarrod Compton, banker, Bank of Oklahoma; and Councilor Moberly.
Non- voting members of the committee include the City Manager and Finance Director.
Each year, the Audit Committee makes a recommendation to the City Council to approve a
contract with an independent accounting firm to perform the city's financial audit. Each year
after completion of the audit, the Audit Committee meets with the auditor to review and discuss
the financial statements and to consider any findings or recommendations of the auditors. Ron
Conner, C.P.A. and Jake Winkler, C.P.A. of RSM US, LLP (formerly McGladrey) will meet with the
Audit Committee on December 13, 2016.
Ron Conner, C.P.A. of RSM US, LLP and John Manning, Chair of the Audit Committee, will present
the audit to the City Council at the December 13, 2016, work session. Mr. Manning, Chair of the
Audit Committee, will make recommendations, if any, to the City Council regarding the annual
audited financial statements and the management letter submitted by the independent
auditor. To facilitate the review process, Councilors will be provided with copies of the audit in
advance of the work session and both Ron Conner and John Manning will be present to answer
questions regarding the audit and financial statements.
The audit report is filed by the auditor with the State and does not require authorization or
approval by the City Council. Receipt of the audit will be listed under the Official Notices to
Council in order to create a record in the minutes that the audit report has been received.
sd
T our Limits,
TO: The Honorable Mayor and City Council
City of Owasso
FROM: Bronce L. Stephenson, MPA
Director of Community Development
SUBJECT: Final Plat - Glover Owasso
DATE: December 9, 2016
BACKGROUND:
The City of Owasso received an application for review and approval of a one (1) lot, one (1)
block Final Plat for Glover Owasso. The subject property is located on the east side of the US -169
Service Road at 10505 N Owasso Expressway. The subject property is approximately 5.00 acres in
size, and is currently zoned CS (Commercial Shopping). A Specific Use Permit (SUP 16 -03) for
Glover Coffee Creek Dealership was approved by City Council for this property on September
13, 2016.
SURROUNDING ZONING AND LAND USE:
Direction
Zoning
Use
Land Use Plan::
Jurisdiction
North
CS (Commercial
Undeveloped
Commercial
City of Owasso
Within PUD?
Shopping) PUD -18
Within Overlay District?
US -169 Overlay
Water Provider
South
CS (Commercial
Undeveloped
Commercial
City of Owasso
Shopping) PUD -18
East
RS -3 (Residential Single
Stormwater
Transitional
City of Owasso
Family) PUD -18
Detention /Residential
West
AG (Agriculture)
US -169
Public
City of Owasso
SUBJECT PROPERTY /PROJECT DATA:
Property Size
5.00 acres
Current Zoning
SUP 16 -03 - CS Commercial Shopping)
Proposed Use
Commercial
Lots /Blocks
1 Lot, 1 Block
Number of Reserve Areas
N/A
Within PUD?
PUD 18
Within Overlay District?
US -169 Overlay
Water Provider
Washington County Rural Water District #3
Applicable Paybacks
Storm siren fee of $35 /acre,
Elm Creek Sewer Payback of 1,580 /acre
Streets (public or private)
N/A
ANALYSIS:
The Final Plat indicates two (2) 26' access points along the US -169 Service Road. Perimeter and
interior utility easements are shown on the plat that will allow utility companies adequate access
to serve the development. Any development that occurs on the subject property must adhere
to all subdivision, zoning, and engineering requirements including but not limited to paved
streets, landscaping, and sidewalks.
PLANNING COMMISSION:
The Planning Commission will review this item at their meeting on December 12, 2016.
ATTACHMENTS:
Aerial Map
Final Plat, Glover Owasso
Glover Owasso
1" = 376 ft
Final Plat
11/15/2016
i
This map represents a visual display of related geographic information. Data provided hereon is not a guarantee of actual field conditions. To be sure of complete accuracy,
please contact Owasso Public staff for the most up -to -date information-
R Ia E
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7 N
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Final Plat
Glover Owasso
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A SUBWVRpN WIIMH IHE CIM1 Of OWASSO.1V13A GOVNIY. AgIE Of OY.EANOMq
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6lovar Real Estate Lawton, LLC
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SURVEYOR /ENGINEER:
Tanne] Consulting, LAX
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TO: The Honorable Mayor and City Council
City of Owasso
FROM: Bronce L. Stephenson, MPA
Director of Community Development
SUBJECT: Final Plat - LifepointChurch
DATE: December 9, 2016
BACKGROUND:
The City of Owasso received an application for review and approval of a one (1) lot, one (1)
block Final Plat for Lifepoint Church. The subject property is located on the north side of E 116th St
N approximately 114 mile east of the railroad track crossing at 10857 E 116th St N. This property is
approximately 4.99 acres in size, and is currently zoned AG (Agriculture) and received approval
from the Board of Adjustment in November 2010 for a Special Exception (OBOA 10 -05) to allow
for a church building.
SURROUNDING ZONING AND LAND USE:
Direction
Zoning
Use
Land Use Plan
Jurisdiction
Church
RS -3 (Residential
1 Lot, 1 Block
Number of Reserve Areas
N/A
North
Single- Family High
Residential
Residential
City of Owasso
City of Owasso
Density)
Storm siren fee of $35 /acre; Ranch
Creek Sanitary Sewer 610.33 /acre
Streets (public or private)
N/A
South
CS /AG (Commercial
Undeveloped /Agriculture
Transitional
City of Owasso
Sho in /A riculture)
RS -3 (Residential
East
Single - Family High
Residential
Residential
City of Owasso
Dens
RS-3 (Residential
Stormwater
West
Single - Family High
Detention /Undeveloped
Transitional
City of Owasso
Density)
SUBJECT PROPERTY /PROJECT DATA:
Property Size
4.99 acres
Current Zoning
AG A riculture
Proposed Use
Church
Lots /Blocks
1 Lot, 1 Block
Number of Reserve Areas
N/A
Within PUD?
N/A
Within Overlay District? .
N/A
Water Provider
City of Owasso
Applicable Paybacks
Storm siren fee of $35 /acre; Ranch
Creek Sanitary Sewer 610.33 /acre
Streets (public or private)
N/A
ANALYSIS:
A final plat has been submitted for Lifepoint Church. The final plat shows one 40' access point
and dedicates 60' of right -of -way along E 1 16th St N. Perimeter and interior utility easements are
shown on the plat that will allow utility companies adequate access to serve the development.
A stormwater detention easement is indicated in the northern portion of the property to
accommodate stormwater generated from the development. Any development that occurs
on the subject property must adhere to all subdivision, zoning, and engineering requirements
including but not limited to paved streets, landscaping, and sidewalks.
PLANNING COMMISSION:
The Planning Commission will review this item at their meeting on December 12, 2016.
ATTACHMENTS:
Aerial Map
Final Plat, Lifepoint Church
Lifepoint Church
1" = 376 ft Final Plat 11/15/2016 �( -
5
This map represents a visual display of related geographic information. Data provided hereon is not a guarantee of actual field conditions. To be sure of complete accuracy.
please contact Owasso Public staff for the most up -to -date Information_
FIN, FLAT
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OWNER:
ENGINEER:
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IMPACT EHGINEERINGAND PLANNING, PLC
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ALBERT JGNES R. P.L.S. NO. ISEO
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WAGONER, OK M67
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O.IE Ci VPEPMANN: Rot4(IER 11, ]018
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sd
nTity it out Limits.
TO: The Honorable Mayor and City Council
City of Owasso
FROM: Larry White
Director, Support Services
SUBJECT: Second Amended E -91 1 Interlocal Agreement
DATE: December 9, 2016
In 1989, the City of Owasso, together with the surrounding communities of the Tulsa Metropolitan
Area, executed the first 'Interlocal Agreement" with Southwestern Bell Telephone and
established "Enhanced" 911 Emergency Telephone service. The "Enhanced" 911 service
provided the location of the emergency in a matter of seconds, thus enabling emergency
personnel to have the exact location of the call.
A new Interlocal Agreement dated June 19, 2006, was executed by the participating
jurisdictions. This agreement provided for the restructuring of the Regional 911 Board. This
resulted from changes in jurisdictions purchasing new 911 equipment and services to become
Phase 2 compliant, which allowed each jurisdiction the ability to locate wireless calls.
In 2009, the Regional 911 Board voted to add the City of Bixby to the list of Members to the
Interlocal Agreement. The Board also voted to change the date for the adoption of a budget
resolution from April 1 to March 1 each year in order to facilitate the budgeting process in each
jurisdiction. The First Amended Interlocal Agreement was executed by the participating
jurisdictions in 2009.
A*9 961�IZ1' iIQ11071ZY143S6Zd _1Wile]R445142Yf
On September 17, 2016, the Regional 911 Board voted to add the City of Broken Arrow to the list
of Members to the Interlocal Agreement in order to better facilitate the delivery of Enhanced
911 services throughout the Tulsa Metropolitan Area. The Second Amended Interlocal
Agreement includes the addition of the City of Broken Arrow.
It further provides the method for allocation of costs for the joint funding of the Enhanced 911
Emergency Telephone service will be determined in the Annual Budget adopted by the Board
based on population calculations provided by INCOG. All parties participating in the Board will
share proportionally in the cost of the 911 network. Other charges not related to the network
are further specified as to the share of those charges to be paid by the Members.
Each Member jurisdiction has been requested to approve the Second Amended Interlocal
Agreement. The First Amended Interlocal Agreement will be replaced in its entirety.
ATTACHMENT:
Second Amended Interlocal Agreement
SECOND AMENDED
INTERLOCAL AGREEMENT
The lnterlocal Agreement creating the Regional 9 -1 -1 Board was approved by
the Attorney General on June 19, 2006. In 2009, this agreement was first
amended to include Bixby as a member and to make certain changes to the
cost allocation and annual budget deadlines.
On September 7, 2016, the Regional 9 -1 -1 Board voted to include Broken
Arrow, Oklahoma as a member. The cost allocation formula for both Broken
Arrow and Rogers County is amended here to reflect the agreement of all the
parties.
In consideration of mutual promises herein contained, the First Amended
lnterlocal Agreement is hereby amended by striking the entire agreement and
substituting the following:
THIS AGREEMENT is entered into by and between the following parties:
City of Bixby
City of Broken Arrow
City of Claremore
City of Collinsville
City of Glenpool
City of Jenks
(hereafter "Members ")
City of Owasso
City of Sand Springs
City of Sapulpa
City of Skiatook
City of Tulsa
Rogers County
WHEREAS pursuant to 74 O.S. §1001 et seq., the Members are authorized
to enter into an lnterlocal Agreement for the purpose of jointly cooperating
for their mutual advantage; and
WHEREAS the Members desire to share in the costs of 911 related
equipment, networking and database services in order to save money and
enhance interoperability in case of a mass emergency,
THEREFORE, in consideration of the mutual obligations and benefits
described herein, the parties hereby enter into this Agreement as follows.
I. REGIONAL 911 BOARD CREATED
A. There is hereby created by this Agreement a Board to be known as
the Regional 911 Board, (Board) consisting of duly appointed representatives
from each of the Members. The Board shall have the powers and duties
outlined below. Quorum, voting procedures, representation on the Board,
attendance, minutes of the meeting, officers, terms of office, committees,
and all other operational issues shall be specifically regulated in the by -laws
of the Board, which must be approved by the Board by a majority vote of the
Members. A representative of the Indian Nations Council of Governments
(INCOG) shall be a nonvoting member of the Board.
B. The Board shall designate the time and place of all meetings,
which shall be held no less frequently than quarterly and which shall be
conducted in compliance with the Oklahoma Open Meetings Act.
II. PURPOSE
A. The purpose of the Regional 911 Board shall be to cooperate in the
efficient administration of all 911 related duties in the jurisdictions
represented by the Members. The Board shall procure 911 equipment and
services in order to receive and to correctly route 911 calls to the
appropriate jurisdiction. Costs for the purchase and on -going use of that
equipment and services shall be shared among the Members in the manner
more specifically set out below.
B. Each Member, not the Board, will be responsible for the daily
operation of its 911 center, the delivery of 911 services, and interacting
with vendors regarding equipment or service problems in its 911 center.
C. The Members may also share administrative, monitoring, mapping,
addressing, database maintenance, training or other functions as the Board
recommends from time to time, in a manner more specifically set out in a
memorandum of understanding.
D. The Board may also share information, on legislative police and
best practices with its Members, jurisdictions that subcontract with
Members for 911 services, and representatives of other jurisdictions
attending Board meetings.
TIN 1A i Ml ►� •I �i•�
A. Each Member shall pay its share of equipment and other agreed -to
costs in the manner set out in the Annual Budget adopted by the Board.
B. Members agree to make monthly payments to the Board, c/o
INCOG, for its share of the total costs of maintaining the regional 9 -1 -1
system as calculated by the annual budget. Payments shall be mailed or
delivered to the authorized notice address for the Board.
C. The Board will revise its population calculations, cost sharing
proportions and cost allocation formula annually, using population estimates
provided by INCOG.
D. Nothing in this Agreement imposes or implies any duty for any
Member to indemnify the Board or any other Member or to contribute more
than its agreed upon share as outlined in this Agreement or in a
memorandum of understanding entered into by the Members.
IV. MEMORANDA OF UNDERSTANDING
The Members may, from time to time, agree to share other 911 -
related duties including, but not limited to contract administration, contract
monitoring, mapping, addressing, training or other administrative duties. The
2
Board may recommend memoranda of understanding setting forth the
additional duties, the proposed proportional cost and terms for cost sharing,
however, no Member shall be obligated to participate in or to pay for
additional duties until it has approved each memorandum of understanding
and its governing body has appropriated sufficient funds to pay the
additional costs.
On or before March 1, the Board shall adopt by resolution a proposed
budget for the upcoming fiscal year. The budget shall include revised
population estimates for the upcoming year, an itemization of annual
equipment costs, an itemization of each jurisdiction's proportional share of
the equipment costs, a detailed explanation for any and all additional costs
to be shared during the upcoming fiscal year, and the proportional share of
those costs attributable to each jurisdiction.
As of the date of this agreement, the Board has agreed that all parties
share proportionally in the cost of the 9 -1 -1 network, which enables the
regional interoperability between the parties. All parties with the exception
of Broken Arrow and Rogers County also share proportionally in other 9 -1 -1
related costs including equipment, database, end office trunks, selective
routing, Phase 11 and other charges not related to the network. Broken
Arrow and Rogers County each pay 100 percent of those charges that are
attributable to each of their 9 -1 -1 centers.
VI. DUTIES OF THE BOARD
A. The duties of the Board shall include the following:
1. Procure 911 equipment and services.
2. Enter into contracts with vendors for the delivery of 911
equipment or services.
3. Monitor contract performance by vendors.
4. Regularly provide information on performance by vendors,
equipment and services.
5. Calculate and review cost allocations to assure fair and accurate
distribution of costs among Members.
6. Resolve all disputes among Members regarding cost allocations.
7. Facilitate sharing of 911 functions among Members.
8. Enter into contracts with non - member jurisdictions for the sharing
of 911 network facilities and equipment.
9. Recommend any memoranda of understanding prior to approval by
the Members.
10. Review all requests to participate in the Regional 911 Board by
other jurisdictions and make recommendations to the Members
regarding the approval of such requests.
11. Adopt by -laws consistent with this Agreement. Adopt policies
and procedures as directed by the Members.
12. Share 911 information, monitor and propose legislative initiatives
and share best practices among Members and non - member
jurisdictions that attend Board meetings.
3
13. Perform other tasks consistent with the purpose and intent of this
Agreement and any memoranda of understanding entered into by
the Members.
VII. PROPERTY ACQUISITION /HOLDING
The parties agree that no real property shall be acquired jointly during
the course of this Agreement. Personal property that is acquired during the
term of this Agreement and any renewals thereof shall be the property of the
Regional 911 Board. The Board may own, maintain, upgrade, sell, lease,
alter or dispose of the personal property at any time by action of the Board.
Any property owned by the Board at the time of dissolution of the Board or
upon termination of this Agreement shall become the property of the
Members and former Members in undivided shares equal to the proportion of
cost paid for the property by each Member and former Member as compared
to the total cost paid by all Members and former Members.
VIII. DURATION /TERMINATION
A. This Agreement will become effective from the date of approval or
deemed approval by the Attorney General (Effective Date) and will continue
until June 30, 2017 (Initial Term). This Agreement shall be automatically
renewed by each Member for one -year periods commencing on July 1 of
each year and continuing until June 30 of the following year subject to the
following conditions:
1. Renewal of this Agreement for each Member is subject to the
Member's annual appropriation of sufficient funds for the Member's
fiscal year (July 1 to June 30) to pay the costs allocated to the
Member for that fiscal year. In the event that a Member does not
appropriate or budget sufficient funds to pay its allocated share of
costs for a fiscal year under this Agreement, the Agreement will not
be renewed by the Member.
2. A Member must deliver written notice to terminate or not to renew
its membership in the Regional 911 Board to the Board in an open
meeting at least sixty days prior to the end of the fiscal year.
Termination of all obligations for the terminating or nonrenewing
Member will occur on the last day of the fiscal year in which the
notice was received, provided that the provisions of the next
paragraph are met.
3. Should a Member elect to terminate or not to renew its
membership, the Board, in cooperation with the terminating or
nonrenewing Member and any equipment vendors with which the
Board has contracted for the purchase of equipment, will value the
cost remaining to be paid for the purchase of equipment. The
terminating or nonrenewing Member shall, subject to appropriation of
funds by its governing body, pay its share of that cost to the Board.
B. Termination of membership in the Regional 911 Board will not alter
any contractual rights or obligations a Member may have with a vendor.
rd
IX. ADDITION OF MEMBERS/ DISSOLUTION OF BOARD
A. New members of the Regional 911 Board may be added by a
majority vote of the current Members. New members shall pay the share of
costs of the regional 9 -1 -1 system in an amount to be determined by the
Board. Such proportional cost may include an adjustment to compensate
existing and former Members for previous costs paid. This Agreement may
be amended to add Members as the need arises.
B. This Agreement may be terminated and the Regional 911 Board
may be dissolved by a majority vote of its Members.
X. NOTICE
A. Any notice to be given under this Agreement will be deemed given
on the date of personal delivery or upon the date of mailing if mailed by
certified mail, return receipt requested, with proper postage thereon, to a
Member at the address indicated below the signature of each Member and to
the Board at the following address:
REGIONAL 911 BOARD
c/o INCOG
2 W 2"' Suite 800
TULSA, OK 74103
B. The authorized notice address for the Board or a Member may be
changed by giving written notice to the Board and all Members.
XI. ADDITIONAL TERMS
This Agreement may be executed in parts, each of which shall be
deemed an original and all of which shall constitute one and the same
instrument. Upon execution of the parts, duplicate signature pages shall be
sent to INCOG. INCOG shall compile the original, forward it to the Attorney
General's office for approval and distribute fully executed copies to each
Member.
APPROVED this
Ourisdictio
ATTEST
day of ... _..... 2016.
5
--------------------------
Secretary
(seal)
Contact Person and Address for
Notices required under this Agreement
(person)
(address)
0
ON Sd
The City Wit out Limits.
TO: The Honorable Mayor and City Council
City of Owasso
FROM: Juliann M. Stevens
Deputy City Clerk
SUBJECT: Board and Committee Appointments
DATE: December 9, 2016
BACKGROUND:
An item has been placed on the December work session agenda to discuss a vacant position
on the Capital Improvements Committee and the expiring term for the Indian Nations Council of
Governments ( INCOG) Board of Directors.
CAPITAL IMPROVEMENTS COMMITTEE:
A vacancy has occurred on the Capital Improvements Committee following the death of Dr.
Casey Goodson. Appointments are for a one -year term and expire June 30 of each year.
This committee reviews capital improvement requests and conducts public meetings to discuss
and recommend projects proposed to be funded by the third -penny sales tax. This committee
meets quarterly and as necessary and is comprised of citizens, representatives of other boards
and commissions, and city staff.
INCOG BOARD OF DIRECTORS:
Currently, Councilor Jeri Moberly serves on the Board and Mayor Lyndell Dunn serves as the
alternate. This appointment will expire December 31, 2016. INCOG is requesting the City of
Owasso designate its representative, and an alternate. Appointments to this Board are for a
two -year term.
The INCOG Board of Directors is a regional council of local governments involved with planning
functions and Federal grant review functions. The representative must be an elected official.
Monthly 3% Sales Tax Comparisons
$2,500,000
Year -to -Date 3% Sales Tax Totals
$30,000,000
''•, ; - 4--- - -` - --0
$25,000,000
$2,000,000
-- ----- - ------__ -___
$20,000,000
$15,000,000
$1,500,000 -
$10,000,000
$1,000,000
$5,000,000
$500,000
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
—*—Actual - -o- -- Budget — a— LastYear
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
tAotual - -o- - -3 %Budget —A —Last Year
Year -to -Date 3% Sales Tax Totals
$30,000,000
$25,000,000
$20,000,000
$15,000,000
$10,000,000
$5,000,000
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
—*—Actual - -o- -- Budget — a— LastYear
City of Owasso
Monthly 3% Sales Tax Revenues
Last Five Fiscal Years
2016 -2017 2015 -2016 2014 -2015 2013 -2014 2012 -2013
Jul
$
2,108,777
$
2,073,553 $
1,865,194
$
1,704,985
$
1,630,957
Aug
$
2,014,531
$
1,973,796 $
1,820,788
$
1,678,483
$
1,521,846
Sep
$
1,963,590
$
1,978,203 $
1,832,861
$
1,617,952
$
1,518,488
Oct
$
1,965,220
$
2,011,595 $
1,896,451
$
1,677,145
$
1,560,824
Nov
$
1,968,688
$
1,851,194 $
1,808,171
$
1,612,339
$
1,447,596
Dec
$
1,922,355
$
2,166,025 $
1,862,936
$
1,748,989
$
1,605,740
Jan
$
-
$
2,228,743 $
2,125,525
$
2,073,564
$
1,792,034
Feb
$
-
$
2,246,904 $
2,004,466
$
1,990,104
$
1,817,864
Mar
$
-
$
1,762,488 $
1,780,454
$
1,544,058
$
1,500,014
Apr
$
-
$
2,044,284 $
1,781,713
$
1,696,815
$
1,499,708
May
$
-
$
2,041,458 $
1,950,586
$
1,813,883
$
1,629,482
Jun
$
-
$
1,936,362 $
1,998,314
$
1,864,533
$
1,643,878
$
11,943,161
$
24,314,606
$ 22,727,460
$
21,022,850
$ .
19,168,431_
Estimated collection on 3% sales tax. Actual breakdown for half -penny collections for current month not yet
available.
City of Owasso
3% Sales Tax Report
Budget to Actual Comparison
December 8, 2016
Estimated collection on 3% sales tax. Actual breakdown for half -penny collections for current month not yet available
2016 -17
2016 -17
Actual Collections
Budget Projections
Over (Under) Projection
Amount
Percent
Amount
Percent
Amount
Percent
Jul
$ 2,108,777
8.4% $
2,093,447
8.4%
$ 15,330
0.7%
Aug
2,014,531
8.0%
2,016,825
8.1%
(2,294)
-0.1%
Sep
1,963,590
7.8%
2,025,584
8.1%
(61,994)
-3.1%
Oct
1,965,220
7.8%
2,077,130
8.3%
(111,910)
-5.4%
Nov
1,968,688
7.9%
1,944,956
7.8%
23,732
1.2%
Dec
1,922,355
7.7%
2,141,396
8.6%
(219,041)
-10.2%
Jan
Feb
Mar
Apr
May
Jun
Totals
$ 11,943,161
47.7% $
49.1%
-2.9%
_ $ (356,177)
12,299,338
Estimated collection on 3% sales tax. Actual breakdown for half -penny collections for current month not yet available
City of Owasso
3% Sales Tax Report
Two Year Comparison
December 8. 2016
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Totals
2016 -17
2015 -16
Increase or (Decrease)
Percent
Percent
Amount
of Budget
Amount
of Actual
Amount
Percent
$ 2,108,777
8.4 %
$ 2,073,553
8.5%
$ 35,224
1.7%
2,014,531
8.0%
1,973,796
8.1%
40,735
2.1%
1,963,590
7.8%
1,978,203
8.1%
(14,613)
-0.7%
1,965,220
7.8%
2,011,595
8.3%
(46,376)
-2.3%
1,968,688
7.9%
1,851,194
7.6%
117,494
6.3%
1,922,355
7.7%
2,166,025
8.9%
(243,670)
-11.2%
$ 11,943,161 47.7% $ 12,054,367 49.6% $ (111,206) -0.9%
Note: Fiscal Year 2017 Sales Tax Budget is $25.035 million; FT16 actual was $24.315 million.
City of Owasso
Half -Penny Sales Tax Report
Budget to Actual Comparison
December 8, 2016
Estimated collection on Half -Penny sales tax. Actual breakdown for half -penny collections for current month not yet available.
2016 -17
2016 -17
Actual Collections
Budget Projections
Over (Under) Projection
Amount
Percent
Amount
Percent
Amount
Percent
Jul
$ 349,234
8.9%
$ 348,908
8.9%
$ 326
0.1%
Aug
336,391
8.6%
336,138
8.6%
254
0.1%
Sep
327,065
8.4%
337,597
8.6%
(10,532)
-3.1%
Oct
327,329
8.4%
346,188
8.8%
(18,860)
-5.4%
Nov
328,087
8.4%
324,159
8.3%
3,927
1.2%
Dec
320,392
8.2%
356,899
9.1%
(36,507)
-10.2%
Jan
Feb
Mar
Apr
May
Jun
Totals
$ 1,988,499
50.8%
$ 2,049,890
52.3%
-3.0%
$ (61,391)
Estimated collection on Half -Penny sales tax. Actual breakdown for half -penny collections for current month not yet available.
City of Owasso
Monthly Use Tax Revenues
Last Five Fiscal Years
Actual
2016 -2017 2015 -2016 2014 -2015 2013 -2014 2012 -2013 2011 -2012
Jul
$ 82,565
$ 72,360 $ 50,298 $
78,705 $
33,565 $
41,491
Aug
86,552
96,428
56,646
105,903
33,983
52,650
Sep
87,371
122,962
61,204
69,079
47,609
53,051
Oct
86,713
106,846
86,146
103,683
59,327
48,435
Nov
80,855
91,876
89,434
64,434
50,722
43,504
Dec
84,107
113,941
89,482
86,424
48,320
52,052
Jan
86,358
65,206
57,183
60,594
47,738
Feb
102,681
110,645
75,454
78,302
55,671
Mar "
61,748
87,044
50,121
57,199
44,140
Apr
78,834
56,776
55,507
30,577
29,497
May
92,867
75,895
63,674
51,094
55,835
Jun"
96,434
98,093
42,884
75,139
41,989
$ 508,164
$ 1,123,335
$ 926,869 $
853,050 $
626,431 $
566,050
"Increase in sales tax rate from 3.5% to 4.05% March 2017
"Increase in sales tax rate from 3% to 3.5% June 2015