The Enid News and Eagle, Enid, OK

November 5, 2012

Final public hearing for TIF is tonight

By Robert Barron, Staff Writer
Enid News & Eagle

ENID, Okla. — Enid city commissioners are expected to give final consideration to a resolution creating a Tax Increment Finance district for the Oakwood Mall renovation project.

A public hearing was held Oct. 29, and there will be a final public hearing during tonight’s meeting, prior to the vote. The TIF will help pay for construction related to the “de-malling” project, which will convert Oakwood Mall from an indoor mall to an outdoor shopping area, adding a number of name businesses and several restaurants. City officials said as part of the project, Showplex Cinema will build a 12-screen movie theater.

The project, which is expected to cost about $35 million, will include construction of new buildings on the front side of the mall property and moving current tenants into them. The mall itself will be destroyed, except for anchor stores Dillard’s, JCPenney and Sears, which will be maintained and new facades built.

Garfield County Assessor Wade Patterson said the improvements will increase the valuation of the property from its current $12 million to about $30 million.

Also on the agenda are:

• A resolution to amend the 2012-13 capital improvement fund by appropriating $549,706 to the capital improvement budget. It relates to an increase in the cost of construction by Key Construction LLC on Enid Event Center construction. Four change orders were approved totaling $174,698, for a total contract amount of $17,619,142. The resolution appropriates funds for change order No. 5 totaling $549,706. Global Spectrum requested the change order to add reinforcements to roof joists for additional concert equipment. The revised budget will total $18,168,848.

• A resolution to authorize Chief Financial Officer Jerald Gilbert to draw $10 million on the $12 million line of credit previously authorized by the city of Enid and Enid Municipal Authority. The $10 million is requested to be drawn to pay for existing and future obligations directly related to Enid Renaissance Project.

• A resolution declaring the regular municipal election and potential runoff election to be held in 2013. The municipal election will be Feb. 12, 2013, with a runoff, if necessary, April 2, 2013. Offices to be filled are Ward 3, currently held by Lewis Blackburn; Ward 4, currently held by Drew Ritchie; and Ward 6, currently held by Todd Ging. Filing for the offices is 8 a.m. Dec. 3 through 5 p.m. Dec. 5.

• Appointments to the Aviation Advisory Board, Metropolitan Area Planning Commission and Enid Regional Development Alliance.

During the study session, commissioners will hear presentations on bond funding initiatives, an Enid Renaissance Project update, localized drainage plan for Washington and Chestnut, an industrial work force housing presentation and a bicycle route presentation.

The regular city commission begins at 6:30 p.m. in the city commission room of the city administration building, 401 W. Garriott. Study session is in the lower-level conference room at 5 p.m.