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Bartlesville

Posted: Apr 24, 2017 5:44 PMUpdated: Apr 24, 2017 5:44 PM

Committee Approves Eastland Development Plan

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Bill Lynch

Monday afternoon the Bartlesville Tax Increment District Review Committee met to discuss and approve the creation of a new TIF District. The Committee voted to establish TIF District 11 for the Eastland Shopping Center in Bartlesville. The $450,000 economic development project will now be sent before the Bartlesville City Council for action and possible implementation. The committee was nearly unanimously in favor of the incentive district, however Tri-County Tech Superintendent Lindel Fields felt the committee was missing the point.

 

The funding for the TIF will come from Ad Valorem taxes generated within Eastland Center including funds designated for the City of Bartlesville, Washington County Health Department, Bartlesville Public Schools, and Tri-County Tech. However Fields opposition to the establishment of the TIF was not enough to detour the committee. The proposed plan for Eastland Center includes the development of four new rental properties three of which will have drive through lanes. The incentive plan will also redesign the existing parking area and through ways and see the development of a new parking location to the north of Loftis Furniture behind Christ Community Church.

 

The proposed TIF District if approved is anticipated to be paid off within 10 years, however was proposed with a 14 year payoff plan to accommodate several economic variables. The Tax Increment District Review Committee approved both the draft project plan along with the resolution to be submitted to the Bartlesville City Council at their next regularly scheduled meeting.

 

Eastland Now

 

Eastland Proposed

 

 

 

 


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