The Enid News and Eagle, Enid, OK

Featured Story

October 26, 2012

TIF could entice agriculture-related processing plant to Enid

ENID, Okla. — The Enid Board of Commissioners will consider during their Monday meeting a Tax Increment Finance (TIF) district meant to entice an agriculture-related processing plant to locate in the city.

Specifics of the company and the size of the proposed plant have not yet been released.

According to the public meeting agenda released by the city Friday, “The Enid Regional Development Alliance (ERDA) has been conversing with a value added agriculture company that is considering constructing a processing plant in Enid.”

The agenda for Monday calls for the commissioners to “declare the intent to consider approval of a project and creation of a tax increment financing district,” which would be “utilized as an incentive to encourage the company to locate in Enid.”

A TIF district establishes an area in which increased ad valorem taxes will be delayed for a specific period of time. The funds would be used to defray the costs of project development. Tax-receiving agencies continue to receive taxes at the current ad valorem rate until expiration of the TIF, at which point ad valorem taxes are paid out based on project improvements.

ERDA executive director Brent Kisling said incentive packages such as the proposed TIF district are essential in drawing new businesses into the city.

“Because of all the growth we’ve had in the Enid area recently we are getting a lot of attention from companies considering us for a place to relocate,” Kisling said. “But, it’s still a consideration. We have to put together a very aggressive relocation package to make sure we’re the location they choose.”

Kisling said the TIF structure allows the city to put together “a very aggressive incentive package” without burdening taxpayers or tax-receiving agencies with any up-front costs.

“The nice thing about a TIF is you aren’t taking away any money from the entities that receive payments from ad valorem taxes,” Kisling said. “Instead, we capture the difference in ad valorem taxes for a time and return that money to the project.”

Kisling said recent TIF districts helped build the AdvancePierre Enterprise facility and Roosevelt Park Apartments.

He said two other TIF districts were approved to build ethanol plants in Enid, but those projects never came to fruition. And, since the projects weren’t built, no TIF money was expended.

“That’s another nice thing about TIFs,” Kisling said, “is if the project doesn’t happen, you don’t expend any funds.”

Another TIF currently under consideration would help fund the “de-malling” of Oakwood Mall. That TIF will be open for public discussion during Monday’s city commission meeting.

Kisling said TIF districts may become a common consideration for the city commissioners in the near future.

“I anticipate, over the next several months, you’ll see several more of these come before the council,” Kisling said, “because there are quite a few companies in the pipeline considering relocating here.”

The Enid Board of Commissioners will meet at 5 p.m. Monday in the lower level conference room of the city administration building at 401 W. Garriott.

Text Only
Featured Story
  • Child Tax Credit_Hass.jpg House votes to boost child tax credit for some

    With nearly all Republicans voting in favor and most Democrats opposed, the bill cleared the House by a vote of 237-173. The White House threatened to veto the bill, though the Democratic-controlled Senate is unlikely to pass it.

    July 25, 2014 2 Photos

  • Oil-Covered Owls_1_JN.jpg Caretaker: One of 2 oil-covered owls has died

    Jean Neal and her husband, Jim, of Fairview, have been caring for the owls since Tuesday, July 22, 2014, when they received them from Oklahoma Department of Wildlife Conservation, which is investigating the incident and the death of several other birds found at a neglected oil field tank site.

    July 25, 2014 2 Photos

  • Virginia Storm_Hass.jpg 2 dead, dozens hurt after storm at Va. campground

    "All hell broke loose. We got an emergency message on a cellphone and within 30 seconds, the thing hit and it blew down 40, 50 trees in the park." — Joe Colony, who has been coming to the campground for 30 years

    July 24, 2014 7 Photos

  • money.jpg Affordable Care Act 80/20 rule will provide refunds to many Oklahomans

    According to Alex Kotran, spokesman for the U.S. Department of Health and Human Services, Oklahoma residents will get $6.7 million in refunds from health insurance companies this summer.

    July 24, 2014 1 Photo

  • Oil Drilling Earthqua_Hass.jpg Oil company geologist to talk Okla. earthquakes

    Continental Resources' Vice President of Geology Glen Brown will deliver a luncheon address Wednesday to members of the Oklahoma Geological Society.

    July 23, 2014 1 Photo

  • Disaster 4117 - Logo.jpg Cities, states scramble to spend grant money

    More than half of the federal disaster funds being offered to Oklahoma for recovery from the violent storms of 2013 are in the form of community development grants.

    July 23, 2014 2 Photos

  • Health Overhaul Subsi_Hass.jpg Ruling endangers health subsidies

    A 2-1 that could mean premium increases for more than half the 8 million Americans who have purchased taxpayer-subsidized coverage under the federal government and not by state markets.

    July 22, 2014 1 Photo

  • label logo.jpg Study: 1 in 4 Oklahoma kids live in poverty

    Nearly 1 in 4 Oklahoma children live in poverty and the number of children living in high-poverty areas has more than doubled since 2000.

    July 22, 2014 1 Photo

  • Garner.jpg Family, friends recall James Garner’s Norman roots

    Norman resident Roy Hamilton, who grew up with Garner, said he remembers him as being well-liked and a great person who never lost his Oklahoma roots.

    July 21, 2014 2 Photos

  • capitol tease.jpg Studying cannabis

    Oklahoma Legislature slates interim looks at its medical use

    July 19, 2014 1 Photo

Featured Ads
AP Video
Raw: Air Algerie Flight 5017 Wreckage Virginia Governor Tours Tornado Aftermath Judge Faces Heat Over Offer to Help Migrant Kids Kerry: No Deal Yet on 7-Day Gaza Truce Kangaroo Goes Missing in Oklahoma More M17 Bodies Return, Sanctions on Russia Grow Gaza Residents Mourn Dead Amid Airstrikes Raw: Deadly Tornado Hits Virginia Campground Ohio State Marching Band Chief Fired After Probe Raw: Big Rig Stuck in Illinois Swamp Cumberbatch Brings 'Penguins' to Comic-Con Raw: Air Algerie Crash Site in Mali Power to Be Restored After Wash. Wildfire Crashed Air Algerie Plane Found in Mali Israel Mulls Ceasefire Amid Gaza Offensive In Case of Fire, Oxygen Masks for Pets Mobile App Gives Tour of Battle of Atlanta Sites
NDN Video
Big Weekend For Atlanta Braves In Cooperstown - @TheBuzzeronFox Chapter Two: Becoming a first-time director What's Got Jack Black Freaking Out at Comic-Con? Doctors Remove 232 Teeth From Teen's Mouth Bradley Cooper Explains His Voice in 'Guardians of the Galaxy' Deja vu: Another NYPD officer choke-holding a suspect 'Fifty Shades of Grey': Watch the Super Sexy First Trailer Now! Reports: Ravens RB Ray Rice Suspended For 1st 2 Games Of The Season Air Algerie plane with 119 on board missing over Mali Diamond Stone, Malik Newman, Josh Jackson and others showcase talent Free Arturo - The World's Saddest Polar Bear A Look Back at Batman On Film Through The Years LeBron James -- Dropped $2k On Cupcake Apology ... Proceeds To Benefit Charity Snoop Dogg Says He Smoked Weed at the White House Raw: Fight Breaks Out in Ukraine Parliament Chris Pratt Interrupts Interview To French Braid Intern's Hair Shirtless Super Mario Balotelli Dances While Ironing - @TheBuzzeronFOX Whoa! Watch "Housewives" Star Do the Unthinkable LeBron apologizes to neighbors with cupcakes Justin Bieber In Calvin Klein Underwear Shoot
House Ads