HomeMy WebLinkAbout2016.11.10_OEDA AgendaNotice and agenda filed in the office of the City Clerk and posted at City Hall at 5:00 PM on
Tuesday, November 8, 2016.
we
,Chelsea M.E. Levo, Economic Development Dire ctior
1. Call to Order
Mr. Charney, Chair
2. Consideration and appropriate action relating to a request for Trustee approval of the
Consent Agenda. All matters listed under ",Consent" are considered by the 'Trustees to be;
by one motion. Any Trustee may, however, remove an Item
routine and will be; enacted
from the Consent Agenda by request. A motton to adopt the Consent Agenda i's non-
debatable.
A. Approval of minutes of the September 8, 2016 regular meeting
Attachment
B. Approval of clamms
Attachment
C. Acceptance of the monthly financial reports
Attachment
I Consideration and appropriatee action, relating to iltems removed from the Consent Agendj
4. Discussion relating to 'Tax Incremental Financi TIF) - Owasso Redbud District.
Emilly Pomeroy
Center for Economic Development Law,
Attachment
6. Report from, OED,A Manager
Mr. Lehr
,1111111111 1111111111111r; 111 j;1jjj 1 111111; � I! rml=
UEA
November 10, 2016
Page 2
8. New Business (New Business is any item of business which could, not have been-foreseen
I
the time of posting of the algenda.)
MEETING OF THE
OWASSO ECONOMIC DEVELOPMENT AUTHORITY
MINUTES OF MEETING
Thursday, September 8, 2016
The Owasso Economic Development Authority met in regular session on Thursday, September 8, 2016
in the Main Conference Room at City Hall, 200 S Main, Owasso, Oklahoma per the Notice and
agenda filed in the office of the City Clerk and posted at City Hall, 200 S Main (west entrance)at 5:00
PM on Tuesday, September 6, 2016.
ITEM 1: CALL TO ORDER & ROLL CALL
Chair David Charney called the meeting to order at 10:00 AM.
PRESENT ABSENT
Gary Akin, Secretary
David Charney, Chair
Skip Mefford, Trustee
Jeri Moberly, Trustee
Dee Sokolosky, Trustee
Bryan Spriggs, Trustee
Dirk Thomas, Trustee
A quorum was declared present.
ITEM 2: CONSIDERATION AND APPROPRIATE ACTION RELATING TO A REQUEST FOR TRUSTEE
APPROVAL OF THE OEDA CONSENT AGENDA
ITEM 3:
A. Approval of minutes of the August 11, 2016 Regular Meeting
B. Approval of claims
C. Acceptance of the monthly financial reports
Ms. Moberly moved to approve the consent agenda, seconded by Dr. Spriggs.
AYE: Akin, Charney, Mefford, Moberly, Sokolosky, Spriggs, Thomas
NAY: None
ABSTAIN: None Motion carried 7 -0.
CONSIDERATION AND APPROPRIATE ACTION RELATING TO ITEMS REMOVED FROM THE
CONSENT AGENDA
No action required
ITEM 4: REPORT FROM OEDA DIRECTOR
ITEM 5:
ITEM 6:
Ms. Levo reviewed the Director's Report. Bronce Stephenson presented the Monthly
Building Report for July; Roger Stevens presented the Public Works project status report; and
Linda Jones advised that the monthly sales tax report has not been received. Discussion
was held.
REPORT FROM OEDA MANAGER
Mr. Lehr advised that the Owasso Chamber was hosting the annual State of the City
address on Friday, September 16, 2016.
REPORT FROM OEDA TRUSTEES
Mr. Sokolosky presented information related to the Owasso Public Schools and the
proposed Tax Increment Financing District project. Discussion was held.
ITEM 7: NEW BUSINESS
None
ITEM 8: ADJOURNMENT
Dr. Thomas moved to adjourn the meeting, seconded by Mr. Mefford.
AYE: Akin, Charney, Mefford, Moberly, Sokolosky, Spriggs, Thomas
NAY: None
ABSTAIN: None Motion carried 7 -0.
The meeting adjourned at 10:45 AM.
Juliann Stevens, Minute Clerk
MEETING OF THE
OWASSO ECONOMIC DEVELOPMENT AUTHORITY
MINUTES OF MEETING
Thursday, October 13, 2016
Due to a lack of quorum, the Owasso Economic Development Authority did not meet in regular
session on Thursday, October 13, 2016 as per the Notice and agenda filed in the office of the City
Clerk and posted at City Hall, 200 S Main at 5:00 PM on Tuesday, October 11, 2016.
Juliann Stevens, Minute Clerk
I
TO: THE HONORABLE CHAIR AND TRUSTEES
OWASSO ECONOMIC DEVELOPMENT AUTHORITY
FROM: CHELSEA M.E. LEVO
ECONOMIC DEVELOPMENT DIRECTOR
SUBJECT: CLAIMS, OEDA
DATE: October 13, 2016
No claims for September 2016.
I
TO: THE HONORABLE CHAIR AND TRUSTEES
OWASSO ECONOMIC DEVELOPMENT AUTHORITY
FROM: CHELSEA M.E. LEVO
ECONOMIC DEVELOPMENT DIRECTOR
SUBJECT: CLAIMS, OEDA
DATE: November 10, 2016
No claims for October 2016.
Owasso Economic Development Authority
Statement of Revenues, Expenses and Changes in Fund Net Assets
For the Month Ending September 30, 2016
Operating Revenues
Operating Expenses:
Materials & supplies
Services & other charges
Capital outlay
Total Operating Expenses
Operating Income (Loss)
Non-Operating Revenues (expenses ):
Investment income
Promissory note revenue
RAN deft service &other costs
Transfer from Hotel Tax Fund
Tots] non - operating revenues (expenses)
Net income (loss) before contributions and
transfers
Transfer to general fund
Change in net assets
Total net assets - beginning
Total net assets - ending
STD
YTD
Bud
$0.00
$0.00
$0.00
0.00
0.00
0.90
0.00
0.00
51000.00
0.00
0.00
0.00
0.00
0.00
51000.00
0.00
0.00
(51000,00)
0.70
x,09
3.90
0.00
0,00
0.00
0.00
0.00
0.90
0,00
0.00
0.00
9.70
2.09
$8.99
9.70
2.09
(41992,00)
9.00
0.00
9.00
0.70
2.09
, 992.00
91079.0
91079.91
$9k081.10
$4,087.01
Owasso Economic Development Authority
Statement of Revenues, Expenses and Changes in Fund Net Assets
For the Month Ending October 31, 2016
Operating Revenues
Operating Expenses:
Materials & supplies
Services & other charges
Capital. outlay
Total Operating Expenses
Operating Income (Doss)
Nora- Operating Revenues (Expenses):
Investment income
Promissory note revenue
RAN debt service & other costs
Transfer from Hotel Tax Fund
Total non-operating revenues (expenses)
Net income (loss) before contributions and
transfers
Transfer to general fund
Change in net assets
Total net assets - beginning
Total net assets w ending
iTD
YTID
Bud et
$0.00
$0.00
$0.00
0.00
0.00
0.0
0.00
0.00
51000.00
0.00
0.00
0.00
0.00
0.0
,000,
0.00
0.00
(5,000,00)
0.69
2.75
8.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
& 00
0.00
0.69
2.75
$8.00
0.69
2.75
(4,992.00)
0.00
0.00
0.00
0.609
2.75
;992.00)
91079.01
91079.01
$9,081.7
$4,087.01
Draft for Review Committee Consideration 11 -3 -16
Adopted
OWASSO REDBUD DISTRICT PROJECT PLAN
INCREMENT DISTRICT NO. 1, CITY OF OWASSO
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
Draft for Review Committee Consideration 11 -3 -16
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.
1
Draft for Review Committee Consideration 11 -3 -16
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 reserve 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 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
Draft for Review Committee Consideration 11 -3 -16
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(B) and 863 of
the Oklahoma Local Development Act, subject to approval of the governing body of the City of any
3
Draft for Review Committee Consideration 11 -3 -16
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.
VIII. 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 $ 310000,000.00
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
Draft for Review Committee Consideration 11 -3 -16
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.
5
Draft for Review Committee Consideration 11 -3 -16
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 Project 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.
0
Exhibit A
Project Area and Increment District No.1 Boundaries
Fxhihit R
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 57.00 feet, thence north along said lot line a distance of 283.00 feet, Thence west along
south lot of said lot a distance of 490.00 feet, Thence north along said lot line a distance of
24.00 feet, Thence west along said lot line a distance of 41.01 feet, Thence north along said lot
line a distance of 240.23 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
393.50 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 332.10 feet to the Northwest corner of said Lot 1, Block 1, Thence east a
distance of 87.67 feet to a point on the north lot line of said Lot 1, Block 1, Thence north a
distance of 255.00 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 310.00 feet to a point 165 feet south of said Lot 5, Block 1, Thence north a
distance of 495.00 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 curve to the
left with a radius of 3961.88 feet, a distance of 917.72 feet, Thence continuing north along said
railroad right -of -way, a curve to the left with a radius of 3920.77 feet, a distance of 385.20 feet,
Thence north a distance of 55.06 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 95.22
feet, Thence west a distance of 35.72 feet along said railroad right -of -way, Thence northwest
along said railroad right -of -way a distance of 331.40 feet, Thence east a distance of 141.81 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 along a curve with a
radius 3444.76 feet a distance of 1213.85 feet to the to the northwest corner of Lot 111 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 203.53 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 125.00 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 885.09 feet to the northwest corner
of Lot 41 Block 6, Owasso Original Town, a subdivision in the City of Owasso, Tulsa County,
1
Oklahoma, Thence north along the east right -of -way of North Atlanta Street West a distance of
138.10 feet to the northwest corner of Lot 21 Block 3 of the said subdivision, Thence east a
distance of 162.09 feet to the southwest 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 5.0 feet to a point
on the east line of Lot 141 Block 2 of said subdivision, Thence north 340.47 feet to the northeast
corner of Lot 9, Block 2 of said subdivision, Thence east 18.73 feet to the southeast corner of
Lot 11 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 118.59 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 305.00
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 5.00 feet, Thence west 75.00 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 95.00 feet, Thence east along said
west right -of -way a distance of 5.00 feet, Thence south along said west right -of -way a distance
of 80.38 feet, Thence east a distance of 70.00 feet to a point on the said east right -of -way line,
Thence south along said east right -of -way a distance of 150.00 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 653.20 feet to the northeast corner of Lot 1, Block
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 1,190.20 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 210.00 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 75.50 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
161.40 feet, thence southwest along said right -of -way a distance of 235.40 feet, thence
southwest along said right -of -way a distance 159.10 feet, Thence west along said right -of -way a
distance of 208.30 feet, Thence south along said right -of -way a distance of 113.20 feet, Thence
west 247.80 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 37.50 feet, Thence east a distance of 257.00
2
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
125.00 feet, Thence east along the north line of said lot a distance of 200.00 feet to the
northeast corner of said Lot 1, Thence southwest a distance of 247.06 feet to the southeast
corner of said Lot 11 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 21 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 451.17 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 323.47 feet, Thence south along west right -of -way of Mingo Valley
Expressway a distance of 801.39 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 9,033,253.84 square feet or 207.37 acres
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 620.30 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 89.34 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 545.20 feet,
thence east along said railroad right -of -way a distance of 14.96 feet, Thence south a distance of
810.67 feet to the southeast corner of Government Lot 1 of Section 311 Township 21 North,
Range 13 East, Thence west along the south line of said Government Lot 1, a distance of
2,651.12 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 1260.64 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 1329.28 feet, Thence north along said south right -of -way line a distance
3
of 10.00 feet, Thence east along said south right -of -way line a distance of 221.33 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 1101.06 feet to the
northwest corner of Lot 11 Block 11 Atchison Topeka & Santa Fe, the Point of Beginning,
containing 4,110,360.70 square feet or 94.36 acres.
4
Exhibit C
Existing Uses and Conditions
Exisitng
J-
Agricuftural
E. Comimercial
Sing Family Residential
Public (Tax-Em
Exhibit D
Proposed Improvements and Uses
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
I. DESCRIPTION OF PROJECT
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.
III. ELIGIBILITY OF PROJECT AREA AND INCREMENT DISTRICT
In order to establish a tax increment finance district, Section 856(13)(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.
2
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 or to 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
3
Exhibit A
Project Area and Increment District No.1 Boundaries
Fxhihit R
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 57.00 feet, thence north along said lot line a distance of 283.00 feet, Thence west along
south lot of said lot a distance of 490.00 feet, Thence north along said lot line a distance of
24.00 feet, Thence west along said lot line a distance of 41.01 feet, Thence north along said lot
line a distance of 240.23 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
393.50 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 332.10 feet to the Northwest corner of said Lot 1, Block 1, Thence east a
distance of 87.67 feet to a point on the north lot line of said Lot 1, Block 1, Thence north a
distance of 255.00 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 310.00 feet to a point 165 feet south of said Lot 5, Block 1, Thence north a
distance of 495.00 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 curve to the
left with a radius of 3961.88 feet, a distance of 917.72 feet, Thence continuing north along said
railroad right -of -way, a curve to the left with a radius of 3920.77 feet, a distance of 385.20 feet,
Thence north a distance of 55.06 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 95.22
feet, Thence west a distance of 35.72 feet along said railroad right -of -way, Thence northwest
along said railroad right -of -way a distance of 331.40 feet, Thence east a distance of 141.81 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 along a curve with a
radius 3444.76 feet a distance of 1213.85 feet to the to the northwest corner of Lot 111 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 203.53 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 125.00 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 885.09 feet to the northwest corner
of Lot 41 Block 6, Owasso Original Town, a subdivision in the City of Owasso, Tulsa County,
1
Oklahoma, Thence north along the east right -of -way of North Atlanta Street West a distance of
138.10 feet to the northwest corner of Lot 21 Block 3 of the said subdivision, Thence east a
distance of 162.09 feet to the southwest 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 5.0 feet to a point
on the east line of Lot 141 Block 2 of said subdivision, Thence north 340.47 feet to the northeast
corner of Lot 9, Block 2 of said subdivision, Thence east 18.73 feet to the southeast corner of
Lot 11 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 118.59 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 305.00
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 5.00 feet, Thence west 75.00 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 95.00 feet, Thence east along said
west right -of -way a distance of 5.00 feet, Thence south along said west right -of -way a distance
of 80.38 feet, Thence east a distance of 70.00 feet to a point on the said east right -of -way line,
Thence south along said east right -of -way a distance of 150.00 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 653.20 feet to the northeast corner of Lot 1, Block
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 1,190.20 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 210.00 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 75.50 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
161.40 feet, thence southwest along said right -of -way a distance of 235.40 feet, thence
southwest along said right -of -way a distance 159.10 feet, Thence west along said right -of -way a
distance of 208.30 feet, Thence south along said right -of -way a distance of 113.20 feet, Thence
west 247.80 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 37.50 feet, Thence east a distance of 257.00
2
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
125.00 feet, Thence east along the north line of said lot a distance of 200.00 feet to the
northeast corner of said Lot 1, Thence southwest a distance of 247.06 feet to the southeast
corner of said Lot 11 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 21 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 451.17 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 323.47 feet, Thence south along west right -of -way of Mingo Valley
Expressway a distance of 801.39 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 9,033,253.84 square feet or 207.37 acres
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 620.30 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 89.34 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 545.20 feet,
thence east along said railroad right -of -way a distance of 14.96 feet, Thence south a distance of
810.67 feet to the southeast corner of Government Lot 1 of Section 311 Township 21 North,
Range 13 East, Thence west along the south line of said Government Lot 1, a distance of
2,651.12 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 1260.64 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 1329.28 feet, Thence north along said south right -of -way line a distance
3
of 10.00 feet, Thence east along said south right -of -way line a distance of 221.33 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 1101.06 feet to the
northwest corner of Lot 11 Block 11 Atchison Topeka & Santa Fe, the Point of Beginning,
containing 4,110,360.70 square feet or 94.36 acres.
4
Enterprise Zone Designation
West 4th Sr,o erl
5
w
�4
d S
we
NRYPC//�
M
Girain�� Jfatlheired
linicuriparated
Z11DIDMi tO
yrN
Nc
ItA
lEast lmgh Street
lye_
"I . ... ... ... ... . . . ........
........ ... ...
East qtj,u, Cc)Npft r4nrth
Mh Rrd,.m Ncodi
74 z
PEE
it V'31 �S0,00, 0,
I A
In
1 60
b
U Fl, ON
East 7 7tJ Plack Nc.wd
10
fr
ffff
Girain�� Jfatlheired
linicuriparated
Z11DIDMi tO
yrN
Nc
OWASSO REDBUD DISTRICT PROJECT PLAN
INCREMENT DISTRICT NO. 1, CITY OF OWASSO
FINANCIAL IMPACTS 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
FINANCIAL IMPACTS REPORT
I. 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 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.
II. THE PROPOSED PROJECT
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.
1
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 near term
and 1,350,000 over the 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. Owasso 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
2
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 to the 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.
3
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 for a 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.
1 Median Family Income (2014 ACS Census Estimate) = $65,550
4
Awk
The Ci'ty Wit i
out
TO: HONORABLE CHAIR & TRUSTEES
OWASSO ECONOMIC DEVELOPMENT AUTHORITY
FROM: CHELSEA M.E. LEVO
DIRECTOR OF ECONOMIC DEVELOPMENT
SUBJECT: DIRECTOR'S REPORT
DATE: November 10, 2016
NEW BUSINESS DEVELOPMENT
The Garage Restaurant - 13303 E 96th St N
• Hal Smith Restaurant Group restaurant
• Last available lot in Willis Farms (Sam's)
• Construction to begin soon
• Zaxby's Chicken -- 12807 E 86th St N
o Open for business
• Amber Crossing - 1 1413 E 96th St N
o One vacant 1,500 sf space available for lease
• Fairway Market II - 9538 N Garnett Rd
o One vacant 1,900 sf space available for lease
• LaQuinta Inn - 8949 N Garnett Rd
o Under construction
• Braum's - 11503 E 76th St N
• Tear down and rebuild of existing store to begin after construction of new E 96th St
N & N Garnett Rd store
• Site under construction
• Smith Farm Market -- 9018 N 121 St E Ave #500
o Vacant 10,820 sf space
• Wheels & Thrills - NE Corner of E 106th St N and N Garnett Rd
• New skating rink
• Site under construction
• Waiting on DEQ permits to begin infrastructure
• Eastern OK Oral Surgery Center - 12802 E 101 St PI N
o Site under construction
• Owasso Industrial Park
• Two new concept buildings to be constructed by OLT
• One about 10,500 sf
• One about 4,500 sf
• Site under construction
• Jim Glover Coffee Creek Dealership - 10500 block of HWY 169 E Service Rd
• Proposed new car dealer offering Chrysler, Jeep, Dodge, Ram and Fiat
• Five acre lot
• Specific Use Permit (SUP) approved by Council
• Home2Suites - 8700 N Garnett Rd
• Site Plan has been submitted for review and construction documents are being
reviewed.
• Construction should begin shortly.
• IQ Car Wash - 8700 N Garnett Rd
o Site Plan has been approved and construction documents are being reviewed.
Construction should begin shortly
• Brownie's Hamburgers - 7708 N Owasso Expressway
• Formerly and briefly Dusty's Cantina
• Same ownership
REDBUD DISTRICT DEVELOPMENT
• Mowery Development - SW Corner of N Main St & W 1 St Ave
• Construction beginning soon of new buildings, to include restaurant, retail, office
space on ground level with loft apartments on second floor level
• Site Plan went before TAC in August
• Coulter Development - SE Corner of Main St & E 76th St N
o Property has been purchased and is now in the design phase
BUSINESS RETENTION & EXPANSION (BR &E)
• Panera Bread -- 12417 E 96th St N
• The menu board will be on the east side of the building and the service /point of
contact window will be on the back north wall of building
• Under construction for new drive -thru window
• Charity Auto Sales - 8884 N Garnett Rd
• Relocating to E 1 16th St N
• Plans under review
• Construction to begin soon
• Ator Elementary School, 1500 N Ash
• Existing gym has been demolished
• Construction underway for new gym facility
• Owasso High School, 12901 E 86th St N
• Mary Glass Performing Arts Center under construction for remodel
• Plans for new athletic building have been approved and construction to begin
soon
RESIDENTIAL SINGLE FAMILY NEW CONSTRUCTION MONTH END REPORT OCTOBER 2016
Month
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
1 January
13
25
15
17
18
19
15
22
12
15
2 February
14
19
23
29
17
15
26
21
19
26
3 March
25
35
30
46
14
27
27
31
23
18
4 April
30
31
36
31
19
26
26
36
27
23
5 May
60
23
27
30
20
23
19
17
15
9
6 June
27
21
34
23
19
24
19
12
11
31
7 July
23
24
28
17
20
15
27
23
20
16
8 August
27
18
28
19
12
15
18
19
33
15
9 September
17
40
20
11
12
12
28
15
13
15
10 October
31
15
36
13
10
21
15
19
23
12
11 November
26
10
13
1
8
11
7
21
25
0
12 December
8
6
13
9
10
16
11
34
7
0
Totals
301
267
303
246
179
224
238
270
228
180
YTD 267 251 277 236 161 197 220 215 196 180
OCTOBER YEAR -TO -DATE COUNT
300
250 -- - - - - -- - - - - -- ---------------------------------------------------------------------------------------- - - - - --
150 -- - - - - -- - - - - -- - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - --
0 ............... M ........................................... ......................... 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
OCTOBER 267 251 277 236 1 bl 197 220 215 196 180
OCTOBER YEAR -TO -DATE DOLLARS
50,000,000
40,000,000 ------------------------------------------------------------------------
30,000,000 -------------------------------- ----------------------------
20,000,000 - - - - -- -------- - - - - -- -------- - - - - -- --
10,000,000 - - - - -- -------- - - - - -- -------- - - - - -- --
0 so "I'l""I'll""I'll'll""I'll""I'll",'llI "I'l""I'll""I'll'll""I'll""I'll",'ll""I'll""I'll",'ll""'ll",'ll""I'll,������������������������������������������������������������������������������������������������������������������������ ...........................
2012 2013 2014
OCTOBER 24,725,036 30,039,880 29,393,124
- - -- ---------------------------------
- - -- ---------------------------------
- - -- --------- - - - - -- - - - - - --
- - -- --------- - - - - -- - - - - - --
2015 2016
43,279,461 24,410,135
TOTAL NEW CONSTRUCTION DOLLARS FOR EACH YEAR
60,000,000
45,000,000 ------------------------------------------------------------------------------ - - - - -- ---------------------------------
30,000,000 -------------------------- - - - - -- -------- - - - - -- --------- - - - - -- ---------------------------------
15,000,000 - - - - -- -------- - - - - -- -------- - - - - -- --------- - - - - -- --------- - - - - -- - - - - - -- ......................................................
2012 2013 2014 2015 2016
TOTAL 28,308,306 32,426,395 36,257,454 46,969,251 24,410,135
RESIDENTIAL MULTI - FAMILY NEW CONSTRUCTION MONTH END REPORT SEPTEMBER 2016
Month
2016
(Initial recording bean May 2016
201 2018 2019 20 0 20 1 20 2 2023 2024 2025
1 January
2 February
3 March
4 April
5 May
0
6 June
0
7 July
0
8 August
0
9 September
0
10 October
0
11 November
12 December
Totals
0
0 0 0 0 0 0 0 0 0
YTD
0
0 0 0 0 0 0 0 0 0
OCTOBER YEAR -TO -DATE COUNT
4
0
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
OCTOBER 0 0 0 0 0 0 0 0 0 0
OCTOBER YEAR -TO -DATE DOLLARS
500,000
0 ...................................................................................................................................................................................................................................................................................................................................................................................................................................................................... ...............................
2016 2017 2018 2019 2020
OCTOBER 0 0 0 0 0
TOTAL NEW CONSTRUCTION DOLLARS FOR EACH YEAR
15,000,000
.................................................................. "I'l""I'll""I'll'll""I'll""I'll",'ll""I'll""I'll",ll,'ll""I'l'll""I'll""I'll",'ll""I'll""I'll",'ll""I'll""I'll",,,'ll""I'l'll""I'll""I'll",'ll""I'll""I'll",'ll""I'll""I'll",,,'ll""I'l'll""I'll""I'll","I ............................................... "I'l""I'll""I'll'll""I"ll""I'll""I'll",'ll""I'll""I'll",'ll,'ll""I'll""I'll",'ll""I'll""I'll""I'll",'ll""I'll""I'll",'ll,'ll""I'll""I'll",'ll""I'll""I'll""I'll",'ll""I'll""I'll",'ll,'ll""I'll""I'llI ....................................................
2016 2017 2018 2019 2020
CITY OF OWASSO
RESIDENTIAL LOT INVENTORY STATUS
October 31, 2016
SUBDIVISION # OF LOTS # DEVELOPED
Burberry Place (6/09)
Camelot Estates (4/07)
Carrington Pointe I (1/11)
Carrington Pointe I Extended (10/15)
Country Estates III (3/99)
Country Estates VI (11/03)
Crescent Ridge (02/08)
Fairways V (8/99)
Fairways VI (12/00)
Falls at Garrett Creek (12/05)
Falls at Garrett Creek Amended (12/05)
Honey Creek (4/02)
Keys Landing I (3/08)
Lake Valley IV (5/10)
Lake Valley V (9/30)
Lake Valley V Phase 2
Lake Valley V Phase 3
Lakes at Bailey Ranch (10/07)
Nottingham Estates IV (8/01)
Nottingham Estates V (3/01)
Nottingham Hill (6/09)
Park Place at Preston Lakes
Preston Lakes (12/00)
Preston Lakes III (10/04)
Remington Park II (11/04)
Sawgrass Park II (04/05)
The Summit at Southern Links (6/97)
The Champions East (05/08)
The Champions West (5/08)
Watercolours (12/02)
TOTALS
# AVAI LAB LE
89
87
2
139
115
24
171
170
1
15
13
2
61
58
3
37
36
1
101
93
8
71
67
4
42
41
1
85
84
1
24
23
1
202
198
4
131
121
10
114
112
2
78
72
6
82
69
13
71
52
19
235
232
3
20
18
2
44
43
1
58
16
42
93
93
0
272
243
29
147
144
3
84
82
2
96
94
2
31
27
4
66
41
25
45
36
9
40
31
9
2744 2511 233
Watercolours (12/02)
The Champions West (5/08)
The Champions East (05/08)
The Summit at Southern Links (6/97)
Sawgrass Park II (04/05)
Remington Park II (11/04)
Preston Lakes III (10/04)
Preston Lakes (12/00)
Park Place at Preston Lakes
Nottingham Hill (6/09)
Nottingham Estates V (3/01)
Nottingham Estates IV (8/01)
Lakes at Bailey Ranch (10/07)
Lake Valley V Phase 3
Lake Valley V Phase 2
Lake Valley V (9/30)
Lake Valley IV (5/10)
Keys Landing 1 (3/08)
Honey Creek (4/02)
Falls at Garrett Creek Amended (12/05)
Falls at Garrett Creek (12/05)
Fairways VI (12/00)
Fairways V (8/99)
Crescent Ridge (02/08)
Country Estates VI (11/03)
Country Estates III (3/99)
Carrington Pointe I Extended (10/15)
Carrington Pointe 1 (1/11)
Camelot Estates (4/07)
Burberry Place (6/09)
CITY OF OWASSO
Residential Lot Inventory Status
0 50 100 150 200 250 300
■ Lots Developed 13Total Lots
COMMERCIAL NEW CONSTRUCTION MONTH END REPORT OCTOBER 2016
Month 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
1 January
4
4
1
1
3
1
1
1
1
2
2 February
3
2
0
1
3
1
1
0
2
1
3 March
2
0
1
3
0
0
0
1
2
0
4 April
0
4
1
1
1
0
4
0
2
0
5 May
1
1
2
1
2
1
0
0
0
0
6 June
1
1
2
0
0
2
1
2
3
2
7 July
0
1
0
0
0
0
1
0
0
2
8 August
3
1
0
0
2
2
0
0
0
2
9 September
28
3
0
0
0
0
0
3
2
3
10 October
4
1
0
0
1
0
4
0
1
2
11 November
1
1
2
2
1
0
1
3
1
0
12 December
1
1
0
1
0
0
1
2
0
0
Totals
48
20
9
10
13
7
14
12
14
14
YTD 46 18 7 7 12 7 12 7 13 14
OCTOBER YEAR -TO -DATE COUNT
PERMITS APPLIED FOR IN OCTOBER 2016
ADDRESS
BUILDER
ADD /ZONE
VALUE
I A.S.F.
PERMIT#
13303E 96 St N
SAS Constructors
WF /CS
$ 1,200,000
5,000
16- 1001 -C
14602E 113 St N
Capital Homes
LVV2 /RS3
$ 121,660
21212
16- 1002 -X
14602E 112 St N
Capital Homes
LVV2 /RS3
$ 121,660
21212
16- 1003 -X
11301 N 148 E Ave
Capital Homes
LVV /RS3
$ 121,660
21#212
16- 1004 -X
11302 N 148 E Ave
Capital Homes
LVV /RS3
$ 107,580
1,956
16- 1005 -X
11500 N Garnett Rd
CNFS
SC169 /CS
$ 30,000
44
16- 1006 -5
12814E 86 St N
CNFS
ECC /CG
$ 30,000
44
16- 1007 -5
8703 N 155 E Ave
Simmons Homes
PPPL /RS3
$ 194,865
3,543
16- 1008 -X
14505E 114 St N
Simmons Homes
LVV3 /RS3
$ 124,630
20266
16- 1009 -X
8787 N Owasso Exp
Ralph Mackey
MVCS /CS
$ 20,000
2,000
16- 1010 -C
8701 N 157 E Ave
Simmons Homes
PPPL /RS3
$ 142,120
2,584
16- 1011 -X
8704 N 155 E Ave
Simmons Homes
PPPL /RS3
$ 143,000
2,600
16- 1012 -X
7604E 82 PIN
Money Homes
CARPI /RS3
$ 145,750
2,650
16- 1013 -X
9500 N 129 E Ave #235
Premiere Interiors
CC /CS
$ 12,500
11238
16- 1014 -C
509E 2 Ave
Construciton Ent.
SAFEWAY /CS
$ 250,000
20,257
16- 1015 -C
8702 N Garnett Rd
Carwash Dynamics
ATORC /CG
$ 400,000
7,500
16- 1016 -C
9455 N Owasso Exp #H
Guinn &Thomas Bldr
TP /CS
$ 210,000
3,861
16- 1017 -C
9321 N 136 E Ave
Homeowner
PV /AG
$ 50,000
210200
16- 1018 -X
7415E 83 St N
Landmark Homes
CARPI /RS3
$ 141,515
2,573
16- 1019 -X
7417E 82 PIN
Landmark Homes
CARPI /RS3
$ 141,515
2,573
16- 1020 -X
8405 N 77 E Ave
Landmark Homes
CARPI /RS3
$ 141,515
2,573
16- 1021 -X
12 Single Family
$ 1,647,470
29,954 SgFt
1 Accessory
$ 50,000
2,200 Sq Ft
2 New Commercial
$ 1,600,000
12,500 SgFt
4 Commercial Remodel
$ 492,500
27,356 SgFt
2 Signs
$ 60,000
88 SgFt
Total Building Permits
$ 3,849,970
721P098 SgFt
CCi�ty o f Owaysfl- 212 N. Mai^. St. 0 0 K 7 4oss
OCCUPANCY PERMITS
NAME ADDRESS DATE COMPLETE
OCTOBER 2016
The Stacy Group
8091 N Owasso Exp
10/1/2016
Yes
Dale's Learning Academy
11570 E 83 St N
10/7/2016
Yes
Panera Bread
12417 E 96 St N
10/27/2016
Yes
SEPTEMBER 2016
Zaxby's
12807 E 86 St N
9/7/2016
Yes
The Church @ Owasso
12200 E 86 St N
9/16/2016
Yes
Village Market Offices
8551 N 125 E Ave #300 & #325
9/23/2016
Yes
AUGUST 2016
Luxe Fitness
12500 E 86 St N #102
8/5/2016
Yes
Rejoice High School
13407 E 106 St N
8/23/2016
Yes
Clinch Martial Arts
11693 N Garnett Rd
8/24/2016
Yes
Marsh Medi Clinic
12500 E 86 St N #105
8/10/2016
Yes
B & B Fitness
9220 N Garnett Rd #1040
8/5/2016
Yes
JULY 2016
First Church
10100 N Garnett Rd
7/15/2016
Yes
Dusty's Grill & Cantina
7708 N Owasso Exp
7/5/2016
Yes
Sun Spark Foot Massage
12500 E 86 St N #105A
7/5/2016
Yes
PJ Bar & Grill
9500 N 129 E Ave #130
7/1/2016
Yes
JUNE 2016
Starbucks
13506 E 116 St N
6/6/2016
Yes
Braum's
11415 E 96 St N
6/9/2016
Yes
The Emerald Academy
11111 N 116 St N
6/13/2016
Yes
Owasso Auto Source
300 W 2 Ave
6/16/2016
Yes
Folds of Honor
8551 N 125 E Ave, Suite 100
6/17/2016
Yes
Bailey Medical Center — Bariatrics
10512 N 110 E Ave
6/28/2016
Yes
MAY 2016
Serenity Nails
9500 N 129 E Ave
5/23/2016
Yes
APRIL 2016
Starbucks
9035 N 121 E Ave
4/1/2016
Yes
Red Robin
9017 N 121 E Ave
4/4/2016
Yes
Capelli Salon
12300 E 86 St N
4/8/2016
Yes
MARCH 2016
Owasso Laundromat Facility
12802 E 86 PI N
3/11/2016
Yes
Owasso Express Laundry Center
9700 North Garnett Road
3/22/2016
Yes
FEBRUARY 2016
Butcher Bros. Meats
13720 E 86 St N #160
2/8/2016
Yes
JANUARY 2016
Liquids
11413 E 96 St N #300
1/25/2016
Yes
DECEMBER 2015
Firehouse Subs
9538 N Garnett Rd #101
12/3/2015
Yes
76th Street Professional Plaza
12899 E 76 St N #106
12/8/2015
Yes
Genscripts Pharmacy
9538 N Garnett Rd #102
12/31/2015
Yes
NOVEMBER 2015
Adaline
11413 E 96 St N #100
11/19/2015
Yes
Oxford Owasso Memory Care 11113 E 103 St N 11/25/2015 Yes
Titan Black 403 W 2 Ave #101 11/6/2015 Yes
MJ Executive Management 14601 E 88 PI N 11/5/2015 Yes
SAHO Animal Hospital 12555 E 86 St N 11/18/2015 Yes
NEW HOME PERMITS APPLIED FOR WITHIN OWASSO FENCELINE - OCTOBER 2016
ADDRESS
COUNTY
BUILDER
TYPE
VALUE
18543 E Persimmon
Rogers
1st Choice Builder
New Home
$330,000.00
17709 E Sunset Ridge
Rogers
Doin Fine
New Home
$850,000.00
11363 N 163 E Ave
Rogers
Quailbrook Estates
New Home
$177,180.00
11305 N 168 E Ave
Rogers
Quailbrook Estates
New Home
$164,340.00
7657 E 166 St N
Tulsa
Smalygo Properties
New Home
$315,000.00
7735 N 71 E Ave
Tulsa
Ronald McCulley
New Home
$450,000.00
11313 E 191 St
Tulsa
Charles Helms
New Home
$137,000.00
7 Single Family $2,423,520.00
0 Multi Family
7 Total $2,4231F 520.00
City of Owasso Public Work Department
STATUS REPORT
November 1, 2016
E 76 St N Widening (from U.S. Hwyl 69 to N 129 E Avenue
In 2010, federal funding was awarded for the engineering, right -of -way and utility relocation
phase. In 2011, federal funding was awarded for the construction phase. Through the
Surface Transportation Program, the city will be required to match the costs by 20% for each
phase.
- In February 2016, ODOT and Federal Highway Administration approved the environmental
document.
- Engineering design is approximately 90% complete.
- Right of Way and easement acquisition began in July 2016 with completion anticipated by
January 2017. Recently, Meshek and Mr. Feary successfully negotiated with five property
owners for right of way and easement. Furthermore, negotiations continue with the remaining
nineteen property owners.
- Utility relocation is expected to begin in March 2017 with completion by December 2017.
- Construction is scheduled to occur in March 2018 with completion by January 2019.
E 76 St N and Main Street Intersection Improvement Project
- In June 2015, City Council approved an engineering agreement with McClelland Engineering.
Engineering design is approximately 90% complete.
- In July 2016, City Council approved this project as eligible to receive CIP funds.
- Land acquisition commenced in September 2016 with completion anticipated in November
2016.
- Private utility relocation commenced September 2016 with completion by November 2016.
- Bid advertisement is anticipated to occur in January 2017 with bid opening in February 2017.
- Construction is scheduled to commence in April 2017 with completion in October 2017.
Garnett Road Widening (from E 96 St N to E 106 St N4
- In November 2012, Council approved an engineering agreement with Dewberry.
In November 2013, federal funds were awarded through the Surface Transportation Program.
A 20% fund match is required.
ODOT approved the environmental document in June 2015. The Federal Highway
Administration (FHWA) approved the document in July 2015.
- Right of way and easement obtainment commenced in October 2015 with completion
anticipated in January 2017.
Utility relocation is expected to begin in March 2017 with completion by December 2017.
- Construction is scheduled to commence In March 2018 with completion by December 2018.
Garnett Road Widening (E 106 St N to E 116
- In March 2016, City Council approved an engineering agreement with McClelland Consulting
Engineers.
- Engineering design is approximately 60% complete.
- Right of way and easement acquisition anticipated to commence in December 2016 with
completion August 2017.
- Utility relocation is expected to begin in September 2017 with completion by June 2018.
- Construction is scheduled to commence in September 2018 with completion in May 2019.
E 106 St N and N 145 E Avenue Intersection Improvements
- In January 2016, Council approved an engineering agreement with Poe and Associates.
- In February 2016, engineering design commenced with completion scheduled in November
2016.
- Engineering design is approximately 60% complete.
- Right of way and easement acquisition anticipated to commence in December 2016 with
completion May 2017.
- Utility relocation is expected to begin in July 2017 with completion by January 2018.
- Construction is scheduled to commence in April 2018 with completion in October 2018.
• E 1 16 St N & N 129 E Avenue Intersection Improvements
- November 2014, funding for the construction phase of this project was approved to receive
federal funds in the amount of $2,186,000. This "matching grant" is 80% ODOT funding, 10%
Tulsa County funding and 10% City funding.
- January 2016, the environmental study was approval by Federal Highway Administration.
- Engineering design is 90% complete.
- Right of way and easement acquisition is anticipated to commence in November 2016 with
completion in January 2017.
Utility relocation is expected to begin in March 2017 with completion by November 2017.
Construction is scheduled to commence in March 2018 with completion in September 2018.
FY 2016 Street Rehabilitation Pro__ rc� am
- In August 2015, City Council approved the project priority list.
- Preventative maintenance - Crack Sealing commenced in June 2016 with completion in
August 2016.
- The remainder of the project was advertised and the bid opening occurred August 23, 2016.
- City Council approved the construction contracts on September 6, 2016.
- Construction is scheduled to commence in October 2016 with completion anticipated in May
2017.
- In late October 2016, base and curb /gutter repairs commenced in the Elm Creek subdivision.
In addition, contractors have started fog sealing and completed a phase in Nottingham
Estates and now mobilized to the Bailey /Sawgrass Subdivision.
• FY 2017 Street Rehabilitation Proaram
- In September 2016, City Council approved the proposed project list.
- Staff is preparing the design and bid documents and anticipates bidding the project in early
2017.
- Construction could begin in April 2017, and completed by December 2017.
Brookfield Crossing Stormwater Improvements
- In July 2016, City Council approved this project as eligible to receive CIP funds.
Engineering design is 95% complete.
Bid advertisement is scheduled to occur in December 2016 with bid opening in January
2016.
Construction is anticipated to commence in March 2017 with completion in November
2017.
Central Park / Lakeridge Stormwater Improvements
- In July 2015, Council approved an engineering agreement Meshek and Associates.
Engineering design and bid specifications are expected to be complete by November 2016.
- In July 2016, City Council approved this project as eligible to receive CIP funds.
- Once the plans are complete, the Army Corp of Engineers will review and provide comments,
if necessary.
- Bid advertisement and construction can begin upon approval by the Army Corp of Engineers.
• Rayola Park / Elm Creek Tributary 5A Stormwater Improvements
- In July 2016, City Council approved this project as eligible to receive CIP funds.
- A letter of intent will be mailed to local engineering firms requesting qualifications in January
2017.
South Sports Park Regional Detention Facility
- In July 2015, Council approved an engineering agreement Meshek and Associates.
In May 2016, Capital Improvement Committee approved and recommended to City Council
to include this project to the CIP list.
In July 2016, City Council approved this project as eligible to receive CIP funds.
Engineering design is complete. Staff anticipates receiving comment or approval within
forty -five days (mid- December 2016) from US Army Corp of Engineers. Bid advertisement
and construction is anticipated to begin once US Army Corp of Engineers have approved
the construction /mitigation plans.
Garrett Creek /Morrow Place - Lift Station. Force Main. Gravitv Sewer Line Improvements
- In March 2016, City Council approved Garrett Creek /Morrow Place Sewer Improvement
Assessment Area.
- In July 2016, City Council approved this project as eligible to receive CIP funds.
- In October 2016, utility easement acquisition commenced with completion scheduled to
occur in November 2016.
- In October 2016, ODEQ approved the engineering plans and provided a permit to construct.
- Bid advertisement is scheduled to occur in November 2016 with bid opening in December
2016.
- Construction is anticipated to commence in February 2017 with completion in November
2017.
E116STNORTH
• Mho and E 116 St N Intersection /E 116 St N to Garnett Road Improvements
- A letter of intent was mailed to local engineering firms requesting qualifications. Six
engineering firms submitted qualifications.
- Fee negations should be complete with the selected engineer by November 4, 2016. Staff
plans to have the engineering agreement ready for consideration at the November 15, 2016
City Council meeting.
• Garnett and E 116 St N Intersection /E 116 St N to N 129 E Ave Improvements
- A letter of intent was mailed to local engineering firms requesting qualifications. Six
engineering firms submitted qualifications.
- Staff has selected an engineering firm and will commence with scope development and fee
negations in November 2016. Staff plans to have the agreement ready to present to Council
in December 2016.
E 116 St N from approximately N 129 E Ave to N 135 E Ave Improvements
- A letter of intent was mailed to local engineering firms requesting qualifications. Six
engineering firms submitted qualifications.
- Staff has selected an engineering firm and will commence with scope development and fee
negations in December 2016. Staff plans to have the agreement ready to present to Council
in January 2017.
E 96 ST NORTH
• From approximately N 119 E Ave to N 129 E Ave
- A letter of intent was mailed to statewide transportation engineering firms announcing the
project and an RFQ will be sent to those interested in November 2016.
$2,000,000
ujz• • � #!
$500,000
Monthly 3% Sales Tax Comparisons
Jul Aug Sep Oct Nov, De!c Jan Feb Mar Apr May jun
--w-- Actual 3% Budget L,a,.,3t Year
Year-to-Date 3% Sales
City of Owasso
Monthly 3% Sales Tax Revenues
Last Five Fiscal Years
2016-2017
2015-2016 2014 -201 2013-2014 2012-2013
Jul
$
21108,777
$
210731553
$
1 ,865,'194
11704,985
1,630t957
Aug
$
21014,531
11973,796
$
11820,788
$
1 1078,433
$
+
1521 , 346
Se
$
1 $903,590
$
11978,203
$
11832,861
$
1,617,952
$
1$5181488
Oct
2P 1,595
$
1539F41
176771145
$
11560,824
Nov
$
$9651220
$
1, 1 j 94
$
118081171
$
110123339
$
1 ,447,596
Dec
$
$963$664
-
211667025
1 ,862,936
117483989
$
1,605$740
Jan
$
-
$
212231743
211253525
$
210731564
F7921034
Feb
$
-
$
2,2401904
$
2,0043466
$
11990,104
$
118171864
Mar
-
$
1 $762,488
$
'1 (730,4 4
$
1 $544$058
F 003014
Apr
-
21044,234
$
1,781,71 3
$
1,696281
134991708
May
-
$
2,041 F4
$
11950,586
$
118133883
136292482
Jun
$
$
13936$302
$
11993,314
$
1,864,533
$
1,6437873
$
1036203732
$
2413142006
$
22,727,460
$
212022$850
$
191168,431
Estimated collection on % sales tax. Actual breakdown for half-penny collections for current month not fret
available.
City of Owasso
3% Banes Tax Report
Budget to Actual Comparison
November 8, 2016
2016-17
2016-17
Actual Collections
Budget Projections
r (Under Projection
Amount Percent
Amount
Pe rcent
A
Percent
Jul ]
2,10$2777
8.4% i
210935447
8.4%
1 t3 9
0.7%
Aug
210141531
8.0%
2x016,825
8.1%
Sep
1 r9631 90
7.8%
21625,584
8.1%
(61,994)
-3.1
Oct
11965,220
7.8%
23077,139
8.3%
Nov
1,968,664
7,9%
11944,956
7.8%
231703
1,2%
'
Dec
Van
Feb
Mar
Apr
May
Jury
ToaIs
19,929,7$2
40.6% ,1 �
-1.4%
Estimated collection n % sales tax. Actual breakdown for half- penny collections for current month not yet available.
City of Owasso
3% Sales Tax Report
Two Year comparison
l ovens r 8, 2016
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Totals
2015 -17
Percent
Amount -
of t
21103,777
8.4%
230143531
8.0%
11963,599
7.8%
119653220
7.8%
119531664
7.9%
0,029,732
2015 -15
Increase or (Decrease)
Percent
Amount
of Actual
Amount
Percent
21073,553
3.5%
351224
1.7%
1 ,9731796
3.1%
401735
2.1%
1 X978,203
8,1%
1 4, 613)
-9.7%
2 ;911,595
3.3%
(463375)
-2.3%
12851,19
7.6%
1173470
5,3%
40.0% 9,333,342 40.7% 132,440 1.3%
Note: Fiscal Year 2017 sales Tax Budget is $25.035 million; FY'16 actual was $24.31 . '1H.0n. ,
City of Owasso
Half -Penny Salon Tax Deport
Budget to Actual Comparison
November 8, 201
2016 -17 2016-17
Actual Collections Bud et Projections ver Under Projection
Percent
Amount
Jul
349,234
Aug
336,391
Sep
3271065
Oct
327,329
Nov
328,111
Dee
254
Jan
3.4%
Feb
8.6%
Mar
-3.1%
Apr
3461138
May
(13,360)
.dun
3.4%
Percent
Amount
Percent
Amount
Percent
3.9%
348S908
8,9%
$ 326
0.1%
8.6%
3361138
8.6%
254
0.1%
3.4%
337,597
8.6%
(10, 532)
-3.1%
8.4%
3461138
8.8%
(13,360)
-5.4%
3.4%
324,159
3.3%
31951
1.2%
Totals $ 1,663}130 42.6% 1 1,692,990. 43.2% 24,360 -1.5%
Estimated collection on Half -Penny sales tax. Actual breakdown for half -penny collections for current month not yet available.
City of Owasso
Monthly ly Use Tax Revenues
Last Fire Fiscal Years
Actual
201 6 -201 7
2015-2016
2014-2015
2013-2014
2012-2013
2011-2012
2 565
$ 721360
$ 50,293
733705
331565
41 ,491
Aug
661552
961423
561646
1 05,963
33,933
523650
Sep
67 371
1 22, 962
61,204
69,079
47 F669
531051
Oct
t t
86t713
1 6 $ 646
36 $146
1 031633
59$327
48P435
Nov
60,355
913876
393434
64$434
563722
433504
Dec
11 3,941
393432
86A24
461326
523052
Jan
861358
65,206
573183
%594
471738
�.J �4
pp
1 02,631
11 0,645
751454
7F3o2
55x671
Cr
r*
61 1746
37 Fo44
561121
57,199
442140
Air
73,334
56;776
55F507
303577
295497
May
921867
752395
63$674
51,094
551635
96$434
96,093
423834
75F139
41,969
424,056
1,1233335
926,369
353,050
$ 6263431
5663950
"Increase in sales tax rate
from 3.5% to 4.0510 March 2617
`Increase
in sales tax fate from 3% to 3.5% June 2015
r.