HomeMy WebLinkAbout2017 02_Sales Tax Increments TIF _2017.04.04CITY OF OWASSO
RESOLUTION 2017 -02
A RESOLUTION OF THE CITY OF OWASSO, OKLAHOMA, DETERMINING THE
SALES TAX BASE OF INCREMENT DISTRICT NO. 1, CITY OF OWASSO, AND THE
FORMULA FOR DETERMINING THE SALES TAX INCREMENTS GENERATED FROM
THE INCREMENT DISTRICT
WHEREAS, the City of Owasso, Oklahoma ( "City "), pursuant to the Oklahoma
Local Development Act, 62 O.S. §850, et seq. ( "Act "), adopted Ordinance 1093,
effective December 20, 2016, approving the Owasso Redbud District Project Plan
( "Project Plan ") and establishing Increment District No. 1, City of Owasso, a sales tax
and ad valorem increment district ( "Increment District ") as of that same date; and
WHEREAS, Section 853(9) of the Act provides that a portion of sales taxes, other
local taxes or local fees collected each year, reasonably determined by a formula
approved by the governing body to be generated by the project, may be
apportioned for specific project costs or as a specific revenue source for other public
entities in the area in which the project costs take place; and
WHEREAS, the Constitution of the State of Oklahoma, Article 10, Section 6C,
which the Act implements, provides that a direction of apportionment may be
prospective and may continue for one or more years, and apportioned tax increments
may be pledged beyond the current fiscal year for the repayment of indebtedness of
public entities; and
WHEREAS, the Project Plan and Ordinance 1093 provide that the increment of
tax revenues generated from the Increment District shall be apportioned to pay project
costs under Section VIII of the Project Plan, and that the sales fax increment generated
from within the Increment District shall be determined by a formula to be approved by
resolution of the City Council in accordance with the Act; and
WHEREAS, the proposed formula for determining the sales tax increment
generated from within the Increment District is reasonable, appropriate, desirable, and
should be approved.
THAT:
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF OWASSO,
Section One: Pursuant to the Act and Ordinance 1093, the sales tax increment
generated from within the Increment District shall be determined
by the formula set forth below, which is hereby approved by the
City Council.
Section Two: The sales tax increment is two percent (2%) of the gross proceeds
or gross receipts derived from the commercial retail transactions
from new businesses in the Increment District that are taxable
under the sales tax code of Oklahoma (including any and all
amendments thereto and revisions thereof).
Section Three: The sales tax base for the Increment District is $0.00.
Section Four: 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 period of the
Increment District, as determined by law.
Section Five: In determining the sales tax generated by the Increment District,
the City shall employ reasonable and consistent accounting
procedures in order to reflect, as accurately and fairly as possible,
sales tax revenues attributable to the activities within the
Increment District.
PASSED AND APPROVED this 41h day of April, 2017.
(SEAL)
Sherry
City
iY G��Y OF 6'
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OFFICIAL
S. AL
APPROVED AS TO FORM:
(J&�, Lew �
Jul' Lombardi, City Attorney
2
L dell Dunn, Mayor
nTity Wit out Lim irs.
TO: The Honorable Mayor and City Council
City of Owasso
FROM: Bronce L. Stephenson, MPA
Director of Community Development
AApRO OFD By c0
Ai-it /,/
lu // VAC /�
SUBJECT: Owasso Redbud District and Increment District No. 1 Policy Guide
and Sales Tax Base
DATE: March 31, 2017
BACKGROUND:
On December 20, the City Council voted 5-0 to create a Tax Increment Financing (TIF) District in
the downtown Owasso Redbud District area. Staff held a brief discussion and brought the draft
Policy Guide for discussion at the February 14, 2017, work session. Staff is now bringing forward a
finalized draft of the Policy Guide document for Council consideration.
At the February 14 work session, Council had questions about the possibility of adding a
category of Assistance in Development Financing that would provide funding for remodel
projects less than the $200,000 proposed threshold required to receive assistance.
Staff advised that a lesser amount would prevent the goals of the Downtown Overlay and TIF to
be realized. Staff requested Center for Economic Development Law (CEDL) to listen to the
worksession discussion and provide their professional opinion on the questions that were raised
by Council. The response form Emily Pomeroy of CEDL is attached for Council review.
The TIF district and the Downtown District Overlay Plan envision significant changes that would
transform the area. Large and significant projects are necessary if that transformation of the
Redbud District is to be realized. Smaller maintenance projects would improve the short-term
appearance, only to risk that in twenty years the area is again a deteriorating.
As Emily Pomeroy noted, the Project Plan seeks to incent 'only those large- scale, highly- desired
projects making a significant positive impact on the District consistent with the vision of the
Downtown Overlay District Plan."
Additionally, as determined in the adoption of the Project Plan for Increment District No. 1, a
portion of City Sales Tax collected within the District is to be collected and dedicated to the TIF
Fund. Discussions among City staff and CEDL determined that collecting Sales Tax only from
new businesses that are established in the Redbud District after December 20, 2016 would be
the preferred method. Only the portions of sales tax not dedicated to Capital Improvements,
Vision Recapture or the 55 /100ths for Police, Fire and Streets would be collected.
DISCUSSION:
After the establishment of Tax Increment District No. 1, the next step is to adopt a Policy Guide
that directs how the Assistance in Development Financing will be allocated to investors within
the TIF area.
A staff team has worked with the CEDL over the last few months to ensure that the Draft Policy
Guide addressed concerns and suggestions from the City Council, Owasso Economic
Development Authority, Planning Commission, TIF Review Committee and stakeholders. The staff
team includes Assistant City Manager, Sherry Bishop; City Attorney, Julie Lombardi; Economic
Development Director, Chelsea Levo; Finance Director, Linda Jones; Deputy City Clerk, Julie
Stevens; and Community Development Director, Bronce Stephenson.
PROPOSED POLICY GUIDE:
The Policy Guide states:
"The Increment District allows the City to support public and private projects using
incremental growth in property and sales taxes. The Project Plan authorizes the allocation of
incremental revenues to a special fund to be used to pay authorized Project Costs,
including public infrastructure, facilities, and improvements, and assistance in development
financing.
"This Policy Guide outlines the goals and objectives of the Project Plan and Increment
District, and describes generally how assistance in development financing may be provided
by allocation of tax increment revenues to assist development projects and small
businesses. Nothing contained in this Policy Guide binds or obligates the City or the Owasso
Public Works Authority (OPWA). Compliance with the Policy Guide is expected. However,
should the provisions of a development agreement or contract approved by the City
Council or the OPWA deviate from the provisions of the Policy Guide, the development
agreement or contract will control."
The attached Policy Guide draft has the following highlights:
• The application process, review team and requirements for qualifying for TIF are
established.
• Assistance in Development Financing A developer may receive a percentage of hard
costs of the construction of improvements on the developer's property. The percentage
available is based on the project completion date as shown in the table below.
Project
June 30, 2021
June 30, 2025
June 30, 2029
End of
Completion
Increment District
Percentage of
12%
10%
8%
6%
Construction Costs
Small Business Enhancements. Beginning July 1, 2019, a retail, restaurant, or personal
service small business may be eligible for reimbursement to enhance the exterior of the
structure in which the business is located, provide streetscape improvements, enhance
signage or access, or otherwise improve the appearance of the exterior of the business.
A Small Business Enhancement is a 50% match of the cost of the approved
improvements. The reimbursement will not exceed $1,500.00.
• Employment Generation Assistance. Light industrial businesses may be eligible for
assistance in support of the creation or expansion of jobs. Assistance would be available
to provide start -up or incubator space to new and expanding businesses to promote
small- business - friendly opportunities for innovation and collaboration. The amount of
assistance would be determined based upon several factors, including but not limited to,
number of jobs created, need for public assistance, overall private investment, and
impacts upon the community.
The Policy Guide includes a glossary of terms, maps of the project area, a copy of the
Downtown Overlay District standards and draft application formats.
i ,31.i�Pr
The Council discussed the Policy Guide at the February 14, 2017, and March 14, 2017, work
sessions.
PROPOSED SALES TAX BASE DEFINITION:
The attached Resolution 2017 -02 defines the Sales Tax Base for the collections within the TIF
District. Only the sales tax from new businesses opening after December 20, 2016, (date of TIF
approval) will be apportioned to the TIF. The sales tax dedicated to Capital Projects, Police, Fire,
Streets and Vision Recapture will continue to be dedicated to those funds. The remaining two
cents of unrestricted sales tax from new businesses will be directed to the TIF fund.
RECOMMENDATION ON POLICY GUIDE:
Staff recommends approval of Resolution 2017 -01, approving the Policy Guide for
implementation of the Owasso Redbud District Project Plan and Increment District No. 1.
RECOMMENDATION ON SALES TAX BASE:
Staff recommends approval of Resolution 2017 -02, determining the Sales Tax Base for the
Owasso Redbud District and Increment District No. 1 and the formula for determining the sales
tax increments generated from the Increment District.
ATTACHMENTS:
Owasso Redbud District and Increment District No. 1 Policy Guide
Resolution 2017 -01, Approving the Policy Guide
Resolution 2017 -02, Determining the Sales Tax Base
Memo from Emily Pomeroy of CEDL
Adopted TIF Project Plan
Approved , 2017
POLICY GUIDE
For the Implementation of the
OWASSO REDBUD DISTRICT PROJECT PLAN
INCREMENT DISTRICT NO. 1, CITY OF OWASSO
PREPARED BY:
THE CITY Of OWASSO, OKLAHOMA
01SY OF OWASgq
�Pv i i j O
'
OF THE SRP`/
POLICY GUIDE
I. Introduction
The City of Owasso, Oklahoma ( "City "), consistent with the Oklahoma Local Development Act, 62
O.S. §850, et seq., on December 20, 2016, through the adoption of Ordinance 1093, approved
the Owasso Redbud District Project Plan ( "Project Plan ") and established Increment District No.
1, City of Owasso ( "Increment District "). The goal of the Project Plan is 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. The Increment District allows the City to support public and private projects using
incremental growth in property and sales taxes. The Project, Plan authorizes the allocation of
incremental revenues to a special fund to be used to pay authorized Project Costs, including
public infrastructure, facilities, and improvements, and assistance in development financing.
The Project Plan defines the boundaries of th
Increment District is the area where increment
collected. The Project Area is the area where
Project Area and Increment District are;coexter
This Policy Guide outlines the goals and`ot
describes generally how assistance in de,
tax increment revenues to assist develo
projects. Nothing contained in this Policy
Works Authority (OPWA). Should the
approved by the City Council or the OPW
development agreement or contract will
t Area and the Increment District. The
ues generated by new development are
icremental revenues can be spent. The
are depicted in Exhibit A.
the Project Plan and Increment District, and
financing may be provided by allocation of
ects, small businesses, and job generation
Is or obligates the City or the Owasso Public
of a development agreement or contract
rom the provisions of the Policy Guide, the
The goal of the Project Plan is to encourage development of the City's original downtown, now
known as the Redbud District, into a special and unique place within the City; a place for residents
and visitors to live, work, shop, and play. The Increment District will support public and private
projects. The City's objectives include:
• Achieve the 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.
• 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.
• To support the creation of attractive, high - quality, and viable mixed -use developments to
draw residents and visitors.
1
1�7:7•l�lt:?yi�iiri
• Where appropriate, to support the development, improvement, and /or expansion of light
industry to increase employment.
• To encourage existing property and business owners in the Redbud District to invest, and
to attract new investment and business to the Project Area.
• To provide start -up and incubators pace to new and expanding businesses and to promote
small- business - friendly opportunities for innovation and collaboration in the Project Area.
• To stimulate and promote the Redbud District as a walkable, vibrant destination.
• To provide a public benefit through
improvements to allow for development
All ad valorem and sales tax increment gene
reimburse the City or other public entities for
Facilities, and Improvements, (2) provide
Development Project Assistance, Small Rusin
Assistance, and (3) pay Implementation and At
utilizing incremental revenues for public in'
aspects of private developments that ':pro,
enhancement of the public space, building fac
of walkability and access throughout the Proje
III. Assistance in
public infrastructure and
r in the a
in the Increment District is available to (1)
ditures made towards Public Infrastructure,
ance in ;development financing through
hancements, and Employment Generation
tration. The City has a strong preference for
cture and ,improvements, including those
public benefit through the creation or
r street front presence, and encouragement
There are three eligible categories of assistance in development financing: (A) Development
Project Assistance, (B) Small Business Enhancements, and (C) Employment Generation
Assistance. 'Assistance in development financing is not available for the development of single -
family homes or for entities seeking assistance related to a property that is exempt from paying
property taxes.
0
1. Development Project Assistance may be available to a developer proposing to
develop on vacant property within the Increment District or significantly renovate or rehabilitate
an existing structure on property within the Increment District. To be considered for
Development Project Assistance, such investment must be in an amount of more than
$200,000.00 based upon the hard costs of the construction of the improvements. The developer
must own the property that it is seeking to develop or renovate. To be eligible for Development
Project Assistance, projects must follow design and density standards as adopted by the City in
the Downtown Overlay District Plan, attached as Exhibit B.
2
2. A developer seeking Development Project Assistance must submit an application
to an Application Review Committee, made up of representatives of the following: the City
Manager's Office, the Finance Department, the Economic Development Department, the City
Attorney's Office, and the Community Development Department. The form of application is
included here as Exhibit C. The Application Review Committee will review the application for
compatibility with the Project Plan and the Downtown Overlay District Plan, evaluate the
qualifications of the applicant, including financial capacity and experience, and recommend
appropriate performance parameters and requirements.
3. Upon recommendation by the Ap
development is eligible to receive Development
between the applicant and the OPWA will be K
agreement will obligate the developer to make
meet certain density and design criteria consist
Overlay District Plan. The development agreemei
to pay the assistance in development financing ;
ation +Review Committee that the proposed
eject Assistance, a development agreement
ented to the applicant. The development
valorem payments on the property and to
with this Policy Guide and the Downtown
subject to availability. Upon review and discussion
agreement, the development agreement will be pr(
Upon approval by the OPWA of the developmen
financing will be provided as detailed in the deve
provided there is no default under the development
the incremental revenues available
>Iine upon which they will be paid,
ing the terms of the development
o,the OPWA for its consideration.
meet, assistance in development
t agreement and described here,
4. For projects receiving Development Project Assistance with construction costs
over $4,000,000, the developer may be required to enter into a covenant imposing a minimum
ad valorem payment or payment in lieu of taxes for the life of the Increment District. The
minimum ad valorem payment will be based on the hard costs of the construction of
improvements. The covenant shall run with the land and shall provide that, should the amount
billed by the County Assessor be less than the agreed upon minimum ad valorem payment, such
additional amount may be billed by the OPWA.
5. For projects completed by June 30, 2021, the maximum amount of assistance in
development financing that the developer may receive is 12% of hard costs of the construction
of improvements on the developer's property. For projects completed between July 1, 2021 and
June 30, 2025, the maximum amount of assistance in development financing that the developer
may receive is 10% of hard costs of the construction of improvements on the developer's
property. For projects completed between July 1, 2025 and June 30, 2029, the amount of
assistance in development financing that the developer may receive is 8% of hard costs of the
construction of improvements on the developer's property. For projects completed after June
30, 2029 through the end of the life of the Increment District, the amount of assistance in
development financing that the developer may receive is 6% of hard costs of the construction of
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DRAFT 3 -22 -17
improvements on the developer's property. The issuance of a Certificate of Occupancy by the
City shall determine project completion.
Project
June 30, 2021
June 30, 2025
June 30, 2029
End of
Completion
Increment District
Percentage of
12%
10%
8%
6%
Construction Costs
6. The hard costs of the construction of i
determined and verified by the Application Review Corr
Development Project Assistance. The receipt of Developn
upon the developer's payment of taxes on its property am
the property. The amount available for Development Pro.
>vements on a project will be
ee prior to the payment of any
Project Assistance is conditioned
m an increase in taxable value of
assistance for a project is limited
based on the amount of incremental revenues generated by the project. Development Project
Assistance will not be available until the project is completed and incremental revenues
generated by the project are received. There is no guarantee of the availability and timing of
funds for Development Project Assistance.
@3
1. Beginning July 1, 2019, Small Business Enhancements may be available to any
retail, restaurant, or personal service small business within the Increment District proposing to
enhance the exterior! of the structure in which the business is located, provide streetscape
improvements, enhance signage or access, or otherwise improve the appearance of the exterior
of the business. To be eligible for Small Business Enhancements, projects must follow design and
density standards as adopted by the City in the Downtown Overlay District Plan, attached as
Exhibit B.
2. A Small Business Enhancement may be provided to assist in improvements and
appearances of the physical exterior or exterior elements of the property where the business is
located. Examples of such improvements include, but are not limited to, new or upgraded
exterior signage, newexterior paint, art installation, landscape improvements, window orawning
improvements, accessibility improvements, streetscape improvements, sidewalk improvements,
parking additions or improvements, the installation of an outdoor seating or gathering space, or
other visual improvements to the property. A Small Business Enhancement is a 50% match of
the cost of the approved improvements. The applicant will be reimbursed by the OPWA at the
completion of the approved improvements for 50% of the actual amount expended on the
approved improvements. The amount of the reimbursement will not exceed $1500.00.
Documentation of all reimbursable expenses related to the improvements and physical
confirmation of improvements must be provided before reimbursement occurs.
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DRAFT 3 -22 -17
3. A business seeking a Small Business Enhancement must submit an application to
an Application Review Committee, made up of representatives of the following: the City
Manager's Office, the Finance Department, the Economic Development Department, the City
Attorney's Office, and the Community Development Department. The form of application is
included here as Exhibit D. The Application Review Committee will review the application for
compatibility with the Project Plan and the Downtown Overlay District Plan, evaluate the
proposed enhancements, and recommend appropriate performance parameters and
requirements.
4. Upon recommendation by the Application Review Committee that the proposed
improvement is eligible to receive a Small Business Enhancement, a business enhancement
agreement between the applicant and OPWA will be presented to the applicant. The business
enhancement agreement will provide for assistance in development financing as authorized by
the Project Plan. Upon review and discussions regarding the terms of the business enhancement
agreement, the business enhancement agreement will be provided to the OPWA for its
consideration. Upon approval by the OPWA of the business enhancement agreement, assistance
in development financing will be provided as detailed in the business enhancement agreement
and as described here.
C.
1. Employment Generation Assi:
in support of the creation or expansion of
available to provide start-up or incubators
small- business- friendiv opportunities for inr
including but not limited to, number of jobs
investment, and impacts upon the communil
y be available to light industrial businesses
iployment Generation Assistance may be
?w and expanding businesses to promote
nd collaboration in the Project Area. The
e determined based upon several factors,
need for public assistance, overall private
2. A business seeking Employment Generation Assistance must submit an
application to an Application Review Committee, made up of representatives of the following:
the City Manager's Office, the Finance Department, the Economic Development Department, the
City Attorney's Office, and the Community Development Department. The form of application is
included here as Exhibit E. The Application Review Committee will review the application for
compatibility with the Project Plan, evaluate the proposed job generation opportunities and
impacts on the community, and recommend the amount of assistance in development financing
to be provided, as well as appropriate performance parameters and requirements.
3. Upon recommendation by the Application Review Committee that the proposed
project is eligible to receive Employment Generation Assistance, an agreement between the
applicant and the OPWA will be presented to the applicant. The agreement will provide for
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DRAFT 3 -22 -17
assistance in development financing as authorized by the Project Plan. Upon review and
discussions regarding the terms of the agreement, the agreement will be provided to the OPWA
for its consideration. Upon approval by the OPWA of the agreement, assistance in development
financing will be provided as detailed in the agreement and as described here. Employment
Generation Assistance will not be available until the agreed upon performance terms in the
agreement have been reached. There is no guarantee of the availability and timing of funds for
Employment Generation Assistance.
IV. Glossary of Terms
Terms used throughout this Policy Guide are further defined as follows:
Assistance in Development Financing — Public fu
approved agreement with OPWA to assist in a pn
provided only for projects that are determined, i
meet the City's approved development goals and
from time to time in the City's plans and policies,
public benefit in return for the public, investment.
material, labor, and
developer's fees and
financing, and legal fE
improvements a
Aher soft costs,
!s, and other pre-
Increment District — The area fro
Plan, the Increment District and t
Increment — The ad valorem inc
generated by the base assessed
County Assessor in accordance wi
attributable to increases in the v
increment is a portion of the Cit
determined by a formula to be ar
with the Oklahoma Local Develop
ids provided to a developer pursuant to an
ject. Assistance in Development Financing is
i the City's and /or OPWA's discretion: (1) to
objectives for the Project Area, as expressed
nd (2) to provide adequate consideration and
—The actual and direct construction costs of the
I with a development. Such costs exclude
but not limited to architectural, engineering,
expenses.
is generated. For purposes of the Project
the same.
nent is the :ad' valorem revenue in excess of the revenue
lue of the Increment District (as determined by the Tulsa
he Oklahoma Local Development Act), i.e., the new revenue
e of property within the Increment District. The sales tax
sales taxes generated within the Increment District, to be
wed by resolution of the Owasso City Council in accordance
nt Act.
Light Industrial Business — A business that manufactures products for end users. Products may
include, but are not limited to, shoes, clothing, furniture, electronics, lights, hardware, and
household items.
Oklahoma Local Development Act —The law passed by the Oklahoma Legislature to implement
Section 6C of Article X of the Oklahoma Constitution, which empowers the governing bodies of
cities, towns, and counties to apportion tax increments to help finance the public costs of
economic development. 62 O.S. §850, et seq.
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DRAFT 3.22 -17
Owasso Redbud District Proiect Plan —The document approved by the City Council of the City of
Owasso on December 20, 2016, by the adoption of Ordinance 1093, that established Increment
District No. 1, City of Owasso, pursuant to and consistent with the Oklahoma Local Development
Act.
Proiect Area —The area within which project activities occur. For purposes of the Project Plan,
the Project Area and the Increment District are the same.
Small Business — A business that is independently owned and operated by an individual from or
entity incorporated in Oklahoma that has fewer than 20 employees (full -or part -time) at the time
of the submission of an application seeking a Small Business Enhancement.
Start -up or Incubator Space — A below- market rate office available for lease to help create and
grow new businesses. Such space may provide common support and services among many
businesses in an effort to reduce overhead and operational costs.
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DRAFT 3 -22 -17
Map of Project Area and Increment District
Downtown Overlay District Plan
SECTION 860.5 DOWNTOWN OVERLAY DISTRICT
860.5.1 GENERAL DESCRIPTION
It is the purpose and intent of the Downtown Overlay District to provide enhanced
standards to protect and enhance the unique characteristics of the Main Street, 76th
St and downtown areas. Overlay Districts may also be used to protect or facilitate a
particular design theme established through specific architectural styles or periods, or
to protect or facilitate site plan conventions such as setbacks that are both minimums
and maximums.
860.5.2. PURPOSE
• Encourage sustainable development that will become a long term asset to
Owasso.
• Promote economic growth and redevelopment of the downtown Owasso area.
• Encourage residential development as part of commercial development and to
replace blighted properties on the fringe of the downtown area with new and
higher- density residential.
• Encourage the development of office space through standalone and mixed -use
development. Office space is encouraged at a higher- density and multi -story
structures.
• Giving special attention to landscaping, buffering, signage, lighting and
building setbacks in those districts identified as needing special attention.
• Giving special attention to the existing architectural style or to the style that is
planned, so as to create an easily identifiable area in those areas identified as
architecturally significant.
• Promote the history of Owasso.
• Encourage quality, attractive and unique architecture.
• Implement the Downtown Development District as described in the 2030
GrOwasso Land Use Master Plan and 2001 Downtown Master Plan.
• Create a vibrant arts and entertainment district.
• Create an area where development can be accomplished at a higher- density
than allowed in any other commercial and residential areas of Owasso.
• Attract new businesses and retain small businesses in the downtown area.
• Revitalize Main Street and create a true Main Street environment.
• Establish regulations that protect the investment of existing and new
businesses from unattractive, non - compatible uses.
• Ensure the area is visually pleasing, sustainable, and developed in a
coordinated fashion.
• Ensure a high quality of development that will ultimately generate an
economically enhanced and pedestrian friendly area for Owasso.
• Follow the principals of the Quality of Life Initiative and the GrOwasso 2030
Land Use Master Plan.
• Encourage locally -owned and Made In Oklahoma businesses
860.5.3 DOWNTOWN OVERLAY DESIGNATED
A. BOUNDARY MAP
The boundaries of the attached map (figure 1) depicts the proposed
Downtown Overlay Area. All properties within the depicted boundaries
are subject to the rules and regulations within this chapter and the
Owasso Zoning Code
B. MAP AMENDMENTS
No change in the boundary of the Downtown Overlay District shall be
authorized, except by the City Council pursuant to the procedures
outlined in Chapter 13, Amendments.
2
Downtown Overlay District Boundaries
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Downtown Overlay Map
860.5.4 PERMITTED USES
The base zoning districts of properties fully or partially within the designated
overlay district shall not be affected except as noted in this chapter. Alt
applicable regulations for use, yard, area, lot dimensions, utility placement,
and landscaping shall be those specified for each district, including planned
unit development (PUD) stipulations.
A. USE RESTRICTIONS
1. In AG districts, only existing agricultural uses shalt be permitted to continue
and be subject to all applicable standards and regulations in Section 300-
330. No Specific Use Permits shall be issued for any land zoned AG and no
new AG uses or businesses shall be allowed.
2. In each zoning district, all uses respective to that district shall be
permitted by right or with the issuance of a Specific Use Permit, except for
those listed below in Section 860.5.4 (A)4.
3. Allowed Uses. Any by right use or those issued with a Specific Use Permit
(SUP) shall be permitted within the Downtown Overlay, unless otherwise
restricted in this section. All uses shall be defined by the most recent
version of the NAILS (North American Industry Classification System) book.
4. Encouraged Uses:
• Retail Uses
• Cafes it Sidewalk cafes
• Restaurants (preferred locally or Oklahoma -owned restaurants)
• Pub /Bar Ex Grill /Wine Bar
• Personal Services (salon, barber shop, florist, health store, etc)
• Mixed Use (ground floor retail with offices or residential above)
• Office space
• Coffee shop
• Boutiques
• Art gallery
• Small theatre or music -venue
• Book store
• Antique store
• Farmers Market
• Arts fx Crafts Studios
• Yoga /Fitness Studio
• Small corner store with basic goods
• Bakery /Artisan Foods
• Entertainment Venues
5. The following By -Right and Specific Use Permit uses shall be prohibited in
the Downtown Overlay District.
• Industrial Uses except in the IH and IM Zoning District
• Any new agricultural uses or businesses
Agricultural implement sates
Aircraft sates
Animal and Poultry Raising
Appliance store and repair
Arena
Auctioneer
Auto Rental
Auto Sales
Auto wash
Bait Shop
Bindery
Boat and Recreational Vehicle sates
Bottled Gas Sates
Cabinet Maker
Camper Sales
Casino /Gaming Center
Cemetery
Cesspool Cleaning
Chick hatchery
Concrete Construction Service
Construction equipment sales
Convenience Store
Disinfecting Services
Drag strip
Drive -in theatre
Exterminating services
Fairgrounds
Fence construction company
Fuel oil sates
Gas Service Station
Gas Station
Go -kart track
Golf Driving range
Halfway house
Janitorial service
Juvenile Delinquency Center
Kennel (as primary use)
Landfill
Lumber yard
Mini - storage warehouses (as a primary use)
Monument sales
Motor vehicle repair and tire shops
Motorcycle Sates
Oil Welt Drilling and Cleaning Establishment
Outdoor Kennels (not a part of veterinary or grooming business)
Outdoor Recreation including amusement parks
Outdoor storage of any kind as the principal use
5
• Plastic material sales
• Portable building sates
• Portable storage
• Power Plant
• Pre - Release Center
• Race tracks (animal or vehicle)
• Sexually- oriented businesses
• Shooting range (outdoor)
• Taxidermist
• Truck rentals
• Truck stop
• Vending sales and service
• Woodworking shop
• Wrecker Yards
B. NON - CONFORMING USES
Non - conforming properties and /or uses, which existed as of the date
these regulations became effective, shall be allowed to continue in the
same manner after the effective date of these regulations. However,
such non - conforming properties and /or uses shall be subject to these
regulations if feasible when:
1. A property owner requests any zoning change;
2. The principle use on the property is discontinued for a period of six
(6) calendar months;
3. The property is destroyed or significantly altered (60% or greater);
4. Enlargements or improvements are made to the structures on the
property that increase the gross square footage by 25%
C. EXISTING USES
1. SINGLE FAMILY RESIDENTIAL - The Downtown Overlay shall not affect
existing single family residential uses. Said uses may continue to exist
in perpetuity until such time as they are redeveloped or rezoned for
another use.
2. PREVIOUSLY APPROVED PROJECTS OR DEVELOPMENT - Any project
or development that has approved development plans or had plans
submitted and under review prior to the effective date of this section
shalt not be required to comply with these regulations. Previous
approvals remain valid unless the approval date lapses or changes are
made to previous approvals. This shalt refer to site plans, building
plans, Planned Unit Developments or Specific Use Permits submitted
prior to the effective date of this section. Said project shall still be
required to comply with the zoning regulations in effect at that time.
An approved plat shall not constitute approval of a project. The
Administrator shall determine if a project meets these criteria.
860.5.5 LANDSCAPE REQUIRMENTS
Development and or redevelopment shall comply with Chapter 20 of the
Owasso Zoning Code whenever possible. Smatter and unique developments
shall provide a landscape plan that shalt be approved by the Administrator.
860.5.6 GENERAL REQUIREMENTS
A. All development shalt follow City of Owasso procedures and requirements
described in Section 2, General Provision, except as noted in this Section.
B. Architectural details and /or drawings shall be submitted to the
Community Development Department at the time of site plan submittal.
Architectural plans shalt depict architectural details outlined in this
Section and consist of:
Preliminary renderings or drawings of building elevations plus typical
cross sections to clearly define the character of the project and to
ensure these provisions are met; and
2. Clearly described exterior building materials to indicate compliance
with this Section. The Administrator shalt review the proposed
building materials for compliance..
860.5.7 BUILDING AND SITE DESIGN STANDARDS
A. BUILDING ENTRANCE
Primary building entrances shall be clearly defined, and shalt be recessed
or framed by a sheltering element such as an awning, arcade, overhang,
or portico (in order to provide weather protection for pedestrians). Public
entrances flush with the building wail with no cover are discouraged.
Awnings are encouraged.
Awning Standards
• Awnings for a building fa4ade shalt be of compatible color, took, shape
and height.
• Canvas or acrylic materials are encouraged. Aluminum, wood, or
plastic awnings are prohibited.
• The store name may be painted on the awning (subject to review and
approval of the administrator).
• Awning hardware shalt not be visible.
• Awnings shall provide vertical clearance of no less than 8 feet above
sidewalks.
• Awnings are not allowed to overhang over vehicular traffic ways.
B. OFF STREET PARKING
Off street parking areas are encouraged to be located to the side or rear
of buildings or in the interior of a block whenever possible. Properties
along Main Street shalt be required to have the building located along the
front property line. Loading areas shall be located behind the main
building and screened in accordance with Chapter 20. Alt parking lots,
drives, aisles and other elements shall comply with Chapter 9 of the
Owasso Zoning Code.
C. BUILDING SETBACK
It is the intent of this chapter to enhance and preserve the character of
the overlay by promoting parking area placement to the rear of tots or
along the sides of buildings and bring visually pleasing building
architecture to the street, therefore building setbacks along public street
frontage may be eliminated with a zero (0) foot setback when possible.
Provisions for public sidewalks shall always be made. Public spaces for
dining and display are encouraged between the building frontages and the
public sidewalk, as long as a six (6) foot clear path of travel is maintained
at all times. Side setbacks shall not be required, so long as buildings
meet all building codes and fire rating standards.
D. OUTDOOR SPACE
Outdoor seating areas, fountains, plazas, courtyards and other elements
are encouraged to create a unique, interesting and walkable downtown
area.
E. SIDEWALKS
All buildings, parking areas, public spaces, amenity features, and
adjoining developments of similar use, shall be linked with sidewalks.
Sidewalks shall be provided along public streets that provide access to the
development. Sidewalks shalt be constructed in accordance with the
standards for sidewalks are required as set forth in City of Owasso
Engineering Standards.
EXTERIOR MATERIALS
Exterior building materials shall include brick, glass, split -faced concrete
block, stone, stucco, synthetic stucco, or cement -board or wood siding.
Metal may be used only as accent material, and cumulatively may not
exceed ten (10) percent of the area of any individual exterior watt along
any public street. Pre - fabricated or engineered metal buildings are not
allowed, though metal can be used as a construction material if covered
with one of the allowed materials. These provisions shall not apply to
roofs.
G. ROOF PITCH
Flat roofs and roofs with a pitch of less than 3:12 require a parapet wall.
Roofs and screening shalt comply with the regulations set forth in Chapter
20 of the Owasso Zoning Code. Eaves a minimum of one (1) foot from the
building face shalt profile a pitched roof. Roofing for pitched roofs
greater than 6:12 shalt be wood, tile, slate, architectural asphalt
shingles, or low - reflectivity metal (flat or matte finish). No roof shalt
cause water to drain or flow directly onto any public way or sidewalk.
Rainwater shall be collected and piped into storm drain systems or
cisterns. Bio- swales, rain gardens or. other LID technics are highly
encouraged.
H. ELECTRICAL AND SERVICES EQUIPMENT
HVAC and similar types of incidental machinery or equipment shall be
screened from view in accordance with Chapter 20. Utility meters,
aboveground tanks, satellite dishes and antennas shalt also be screened
from view. Watt- mounted mechanical equipment that extends six inches
(6 ") or less from the outer building wall shalt be designed to blend in with
the color and architectural design of the subject building. Unless a waiver
is authorized by the City Council, all electrical and telephone lines and
wires including, but not limited to, street lighting, shall be placed
underground. Feeder and other major transmission lines may remain
overhead. ALL utility installation shall conform to the City's adopted
Technical Standards and Specifications. All utility service lines shall be
located underground when feasible. This shall not apply to existing uses
or single- family homes.
WALL ARTICULATION
Facades shall have a recognizable "base" consisting of (but not limited to):
walls, (edges, sills, integrally textured materials (such as stone or other
masonry), integrally colored and patterned materials, or planters.
Facades shalt also have a recognizable "top" consisting of (but not limited
to): cornice treatments with integrally textured materials (other than
colored "stripes" or "bands "), sloping roofs (with overhangs and brackets),
or stepped parapets. All sides of a building and any accessory structure
shalt utilize materials and design characteristics consistent with those of
the front facade. In order to prevent large flat expanses of featureless
exterior watts, structures having single walls exceeding twenty five feet
(25') in length shall incorporate one or more of the following features at
Least every twenty five feet (25') in length
1. Changes in color, graphical patterning, changes in texture, or
changes in material
2. Projections, recesses, and reveals, expressing structural bays or
other aspects of the architecture with a minimum change of
plane of twelve inches (12 ")
3. Windows and fenestration
4. Gable projections
5. Horizontal /vertical breaks
6. Other similar techniques
M. SIGNAGE
Signs shall be permitted in accordance with Chapter 18 of the Owasso
Zoning Code, with the following exceptions:
1. Pole signs in this district are not allowed.
2. Signs are encouraged to be attached to buildings and located on the
face of buildings. All signs not attached to buildings should be of
monument form and constructed of materials that complement the
main building(s).
3. All signs not attached to buildings shalt be set in a landscaped bed.
4. Maximum height for signage not attached to a building shall be six (6)
feet.
5. Full video message boards and signs are prohibited within the
Downtown Overlay District.
6. Larger and multi- tenant developments shalt be allowed to use the
Unified Sign Permit process and are encouraged to do so.
7. Signage overhanging the public sidewalk shalt be allowed where
building faces are adjacent to property lines. Signs shall be at least
eight (8) feet above the sidewalk and shall require a sign permit. (see
figure below).
8. All signs not attached to buildings should be of monument form and
constructed of materials that complement the main building(s).
10
N. BUILDING ORIENTATION
All primary buildings on lots or tracts with frontage on streets within the
District, especially Main Street and E 76th St N. are encouraged to be
oriented towards the street. If any such building is on a lot or tract with a
second frontage, it shall have equally detailed and prominent facades,
constructed of equally high quality materials, facing both the primary
street and the secondary street. At[ buildings are encouraged to be
oriented towards the front of the tot, with parking tots towards the rear
or alongside buildings.
O. COMMERICIAL DRIVE THROUGH LANES
Drive -thru facilities are discouraged in the district, if drive -thru facilities
are constructed as a part of the principal use, they shall be
architecturally integrated with the main building.
P. SCREEENING OF REFUSE COLLECTION AND LOADING AREAS
Refuse collection areas shall be screened in accordance with Chapter 20.
In order to reduce the visual and acoustic impacts of these functions on
adjacent properties and public streets, non - enclosed service, storage, and
off - street loading areas shalt be screened with opaque sight - obscuring
walls and /or fences of between six feet (6') and eight feet (8') in height
made of durable materials. Screening materials shall be the same as, or
of equal quality to, the materials used for the primary building and
landscaping.
Q. MIXED USE DEVELOPMENTS
Buildings in the District are encouraged to contain ground floor retail or
restaurant spaces. Multi -story buildings are encouraged, with a mix of
uses (office, retail /commercial, residential).
11
Residential uses above commercial spaces are encouraged and shalt be
allowed by -right in this district, subject to meeting adopted fire and
building code requirements.
R. SIDEWALK UTILIZATION
Sidewalk cafes and room for sidewalk retail sales outside of businesses is
encouraged. A minimum of six (6) feet of public travel path shalt be
maintained at all times and sidewalk business shalt not impede this travel
area at any time. Businesses shalt be required to carry insurance for
sidewalk space that holds the City of Owasso harmless and submit site
plans for outside activity for approval by the City.
S. PARKING
1. Parking shalt be designed in accordance with the Zoning Code.
2. The Administrator may waive or alter parking requirements on unique
Lots on a case -by -case basis.
3. Multi- family developments shalt provide at least one parking space
per unit and are encouraged to meet current parking standards. The
Community Development Administrator shalt determine parking
requirements.
4. Public parking is encouraged with any new developments and can be
counted towards parking requirements (except residential parking
minimums). Developers shall work with the City to review and design
public parking arrangements.
5. If on street parking is present or permitted on adjacent streets, said
parking spaces may be considered to meet or augment parking
requirements. An inventory of such spaces shalt be made and reviewed
against the parking needs of other businesses in the vicinity.
T. MULTI - FAMILY DEVELOPMENT
Individual multi- family developments in excess of six (6) units shalt
proceed through the rezoning and PUD process in accordance with the
Zoning Code. For multi - family developments of six (6) units or less, the
project shall only be required to rezone to the appropriate multi - family
district (unless already zoned commercial) and proceed through
administrative site plan review. All additional standards shall be met.
U. RESIDENTIAL DEVELOPMENT
Residential redevelopment is encouraged, with mixed -use, multi - famity,
townhome, triplex and duplex development. 1 and 2- family residential
development shall be allowed on any residentially -zoned lot.
Development of up to 6 dwelling units shalt be allowed by -right on any
commercially zoned lot.
V. STORMWATER DETENTION
Detention shall only be required on new development that increases the
impervious area. All detention requirements shalt be determined by the
Owasso Public Works Department. These requirements shall not be
applicable to residential dwellings up to 6- units.
12
W. FLOOR AREA RATIO (FAR)
There shall be no Floor Area Ratio (FAR) requirements in the district.
X. AMENITIES
1. Smaller multi - family developments shall not be required to meet the
amenity requirements established in the PUD Chapter of the Zoning
Code. Amenities should be placed internally when possible in larger
multi - family developments (workout room, rec room, pool area, etc.),
unless said amenities are made available to the public.
2. Commercial developments are encouraged to provide public
amenities whenever possible (benches, fountains, play areas, plaza
areas, etc.)
Y. EXCESS RIGHT -OF -WAY (ROW)
When development occurs along public rights -of -way that have excess
ROW (ex. Non - arterials with 70' ROW width), closing of the public ROW
shalt be encouraged where possible. An alternative is to provide public
parking stalls in these areas. Closing of right -of -way shall be subject to
approval of the Owasso Public Works Department
Z. ADMINISTRATIVE REVIEW
Unless cited within this chapter or another section of the Owasso Zoning
Code, review of these guidelines shall be performed at the Administrative
level. The Administrator and /or his designee may approve variations to
the regulations set forth in this chapter or alternate treatments, so long
as the intent of the ordinance is met.
13
WfURTM
Development Project Assistance Application
OWASSO REDBUD DISTRICT PROJECT PLAN INCREMENT DISTRICT NO. 1
ASSISTANCE IN DEVELOPMENT FINANCING
DEVELOPMENT PROJECT ASSISTANCE APPLICATION
The Application must be fully completed before submission to the Community Development
Department of the City of Owasso at 200 S. Main Street, Owasso, Oklahoma 74055. The omission
of requested information may result in delays. The information requested is necessary to
conduct a thorough financial and economic analysis of the proposed project. Please include any
supplemental information, as may be necessary for purposes of analysis.
1. Applicant /Owner information
Name of Applicant:
Title:
Address:
Contact Information
Address:
Phone Number(s):
Emaii(s):
Name of Business:
Type of Business (LLC, LP, etc.):
Contact Information for Key Project Participants:
IL Project Site Information
Address of Project Site:
Attach Map(s) of Project Site
Legal Description of Project:
1
DRAFT 2 -7 -17
Square Footage and Dimensions of Project Site:
Existing Zoning of Project Site:
Description of Existing Improvements:
111. Project Information
Name of Project:
Description of Project:
Market and Financial Feasibility of Project:
Public Improvements Necessary for Project:
Project Costs
Construction Costs:
Architectural and Engineering Fees:
Other Professional Fees:
Developer Fee:
TOTAL:
IV. Financial Information
Proposed Sources of Funds
Permanent Financing:
Equity:
Public Funds:
2
DRAFT 2 -7 -17
Other:
Attach the following documents:
Balance Sheet, dated December 31 of past year and current year -to -date
Income Statement, past calendar year and current year -to -date
Cash Flow Statement, past calendar year and current year -to -date
Project Development Pro Forma
Tenant Occupancy Schedule
Letters of Intent and /or Contracts
Applicant hereby certifies that all information, including all documents and materials submitted
with this Application, are true to his /her best knowledge and belief and are submitted for the
purpose of consideration of assistance in development financing, consistent with and pursuant
to the Owasso Redbud District Project Plan and the Policy Guide.
Applicant:
Name (Print)
Signature
Date
DRAFT 2 -7 -17
EXHIBIT D
Small Business Enhancement Application
OWASSO REDBUD DISTRICT PROJECT PLAN INCREMENT DISTRICT NO 1
ASSISTANCE IN DEVELOPMENT FINANCING
SMALL BUSINESS ENHANCEMENT APPLICATION
The Application must be fully completed before submission to the Community Development
Department of the City of Owasso at 200 S. Main Street, Owasso, Oklahoma 74055. The omission
of requested information may result in delays. Please include any supplemental information, as
may be necessary for purposes of analysis.
Business Name:
Address:
Contact Person /Owner:
Phone Number:
Email:
What are the proposed improvements to the property?
What dollar amount are you requesting?
What is the proposed total cost of the improvements? (Please provide any quotes for materials,
supplies, labor as an attachment to this application.)
What is the source(s) of funds that is available to complete the improvements and match the
amount you are requesting?
1
DRAFT 2 -7 -17
What impact would the proposed improvements have on your business? (increased customer
traffic, increased sales, visibility, ability to add a new product or service, etc.)
Why do you believe the proposed improvements are a worthy endeavor for your business?
Is this property owned by someone other than the applicant? If yes, please attach letter from
property owner agreeing to allow requested improvements to occur.
Please attach any additional information (pictures, schematics, documentation, quotes,
accompanying information, etc.) with the application.
Applicant hereby certifies that all information, including all documents and materials submitted
with this Application, are true to his /her best knowledge and belief and are submitted for the
purpose of consideration of assistance in development financing, consistent with and pursuant
to the Owasso Redbud District Project Plan and the Policy Guide.
Applicant:
Name (Print)
Signature
Date
DRAFT 2 -7 -17
II Oil :3111r:
Employment Generation Assistance Application
OWASSO REDBUD DISTRICT PROJECT PLAN INCREMENT DISTRICT NO 1
ASSISTANCE IN DEVELOPMENT FINANCING
EMPLOYMENT GENERATION ASSISTANCE APPLICATION
The Application must be fully completed before submission to the Community Development
Department of the City of Owasso at 200 S. Main Street, Owasso, Oklahoma 74055. The omission
of requested information may result in delays. Please include any supplemental information, as
may be necessary for purposes of analysis.
Applicant Information
Business Name:
Type of Business (LLC, LP, etc.):
Address:
Contact Person /Owner:
Phone Number:
Email:
II. Project Information
Name of Project /Business:
Description of Project /Business:
Market and Financial Feasibility of Project /Business:
Public Improvements Necessary for Project /Business:
Projected Number of New Jobs:
DRAFT 2 -7 -17
Description of New Jobs:
Description of the Need for Public Assistance:
Impact of Project on Existing Business:
Impact of Project /Business on Community:
Please attach any additional information (pictures, schematics, documentation, accompanying
information, etc.) with the application.
Applicant hereby certifies that all information, including all documents and materials submitted
with this Application, are true to his /her best knowledge and belief and are submitted for the
purpose of consideration of assistance in development financing, consistent with and pursuant
to the Owasso Redbud District Project Plan and the Policy Guide.
Applicant:
Name (Print)
Signature
Date
DRAFT 2 -7 -17
S CENTER FOR ECONOMIC
DEVELOPMENT LAW
MEMORANDUM
To: Warren Lehr, City Manager, City of Owasso
From: Emily K. Pomeroy
Date: March 2, 2017
Janic; Dan Bald,, ,,
Celli_ V. 73aa.heior
Emit} K. Pomeroy
Lisa M. 13•arden
Jeff Sahiu
Re: Policy Guide Assistance in Development Financing Provisions
301 N... rh Ha, q, Suiw 14)
Oklahoma "it Oklahoma
7002& 4 1
FQi 2;'.:6C6
4D) 21 ,Ol PiJ_S[111 L'i
,,% conL"'Co!n
The purpose of this memorandum is to discuss the application of assistance in
development financing, as summarized in the proposed Policy Guide, specifically in relation
to investments made by property owners or developers in the amount of less than $200,000.00.
Background
The Policy Guide, currently being reviewed by City staff and City Council, is a
proposed working document to assist in the implementation of the Owasso Redbud District
Project Plan ( "Project Plan ") and Increment District No. 1, City of Owasso ( "Increment
District "), adopted by City Council on December 20, 2016, by Ordinance 1093. The Policy
Guide is meant to provide a statement of the method of calculating and means of providing
assistance in development financing, as authorized by the Project Plan. However, there are
certainly instances where it may be appropriate and desirable to deviate from the Policy Guide.
Indeed, the Policy Guide itself states that should the provisions of a development agreement
or contract approved by the City or the Owasso Public Works Authority deviate from the
provisions of the Policy Gide, the development agreement or contract will control.
The Concern
The Policy Guide provides for and defines three categories of assistance in
development financing: Development Project Assistance, Small Business Enhancements, and
Employment Generation Assistance. Project Development Assistance may be provided to
property owner developers making an investment in the amount of more than $200,000.00.
Small Business Enhancements, in a maximum amount of $1,500.00, may be provided to
businesses who make $3,000 or more in improvements to or near the exterior of the building
in which they are located.
In its February 14, 2017, City Council Study Session, there was discussion among the
City Council and staff about the fact that the Policy Guide does not specifically provide for
assistance to property owners that make improvements to their properties, but do not meet the
threshold $200,000.00 amount. The concern is that the $1,500.00 Small Business
Enhancement will be insufficient in these instances. In other words, the posed question is why
Warren Lehr
March 2, 2017
Page 2
not provide a higher level (more than $1,500.00) of assistance in development financing to
those making investments of more than $3,000, but less than $200,000.00.
The short answer is that, based on our experience with other area -wide development
efforts, the Increment District will not be successful if the increment generated is spent
assisting projects that do not make a large and significant impact on the area. The goal of the
Project Plan is to assist the most impactful developments that, by their existence, will create
the market necessary for development to occur on its own in the Redbud District. The
Development Project Assistance and the Small Business Enhancements are two separate and
distinct categories. The Development Project Assistance is the real driver of development
success. The Small Business Enhancements are good, albeit modest, signals of support for
businesses in the Redbud District.
The Project and the Public Assistance
The impetus for the Project Plan was the Downtown Overlay District Plan. By its
language, the Downtown Overlay District Plan specifically encourages and promotes higher
density and mixed uses. It lays out the vision for the downtown: urban building orientation,
zero lot line setbacks, and uses that include a mix of retail, office, residential, multi - family
developments, and enhancement of the public space. That vision is intentionally bold and a
significant change from most of the development that currently exists downtown. The Project
Plan seeks to provide public assistance to projects that meet the bold vision of the Downtown
District Overlay Plan. While it is difficult to determine what will be the most meaningful
projects, setting a threshold amount is a way to try to assure that overall investment will be
significant, not only in the amount of new property taxes generated, but in impact on the
Redbud District and the community as a whole. That is why the $200,000.00 (based on
estimated costs to construct a marketable duplex) benchmark investment amount is important.
While lower levels of private investment may produce increases in ad valorem, there
are a number of goals in the Project Plan that are more than simply increases in ad valorem.
They include density, form, design, and creating a sense of destination. The type and scale of
development that the Project Plan intends to stimulate will require significant private
investment. A face lift or simple renovation to an existing building is not the bold and
significant development that the Project Plan or the Downtown Overlay District Plan
envisions.
Further, smaller investments will not increase property values to a level that the
projected increment generation and overall potential of the Increment District can be realized.
In analyzing development potential, sites likely to see large -scale and significant development
were used to calculate the taxable assessed value increases and estimate increment potential.
Of course, not every property in the Increment District will experience a large renovation or
demolition with new construction. Smaller investments will occur, and that will be good for
the Increment District overall. However, not every investment made, particularly those that
do not meet or exceed the City's development goals for the Redbud District as stated in the
Downtown Overlay District Plan and the Project Plan, should be incentivized. That approach
is unlikely to produce sufficient increment to fund the Project Costs authorized by the Project
Warren Lehr
March 2, 2017
Page 3
Plan. If generated increment is used to provide assistance in development financing to projects
with lower levels of private investment, opportunities for larger projects with higher amounts
of private investment and thus higher amounts of increment generated and community impact
will be unavailable.
To fully realize the development potential and increment generation projected in the
Project Plan, assistance in development financing needs to be provided to only those large -
scale, highly- desired projects making a significant positive impact on the Redbud District
consistent with the vision of the Downtown Overlay District Plan. For each project,
development agreements will state the terms of the available public financial assistance and
will ensure that the Owasso Public Works Authority has input and approval on the quality,
type, and scale of development that the City wants to encourage. The agreements will
contractually obligate property owners to push prospective developments in terms of design,
street front presence, and density. Incentivizing development that does not make the Redbud
District the walkable, pedestrian- friendly, unique place that the City desires greatly decreases
the potential benefits of tax increment financing. The Project Plan and the Policy Guide are
set up to maximize the potential of the Increment District and incentivize large - scale,
significant projects.
Conclusion
The Policy Guide is meant to provide implementation and administrative guidance. As
mentioned above, there may be instances when it is appropriate and desirable to deviate from
the Policy Guide. It may be that there is a project of less than $200,000.00 investment, but
that provides an important improvement to the Redbud District, that the City finds appropriate
and desirable to assist. This is the City's choice, and it is not prohibited by the Policy Guide.
However, in our view, those instances should be the exception and not the rule. The Policy
Guide should encourage the highest and best use of property within the Increment District.
We are happy to have the opportunity to address this issue and are excited that the City
is exploring all possible ways to implement the Project Plan and develop the Redbud District.
If we can address additional questions, please do not hesitate to contact us.
Adopted December 20, 2016
OWASSO REDBUD DISTRICT PROJECT PLAN
INCREMENT DISTRICT NO. 1, CITY OF OWASSO
PREPARED BY:
THE CITY OF OWASSO, OKLAHOMA
0111 OF OWA
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OF: F 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
OWASSO REDBLID 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.
11. 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.
1
III. 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:
2
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
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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
Vlll 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.
4
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.
01
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
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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
01
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
2
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.
And
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
3
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.
4
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Exhibit D
Proposed Improvements and Uses