ENID, Okla. —
Enid City Commission will meet Tuesday in its only regular meeting this month to consider rezoning a 16-acre tract at Chestnut and Cleveland for commercial use, a Tax Increment Finance district for a proposed canola processing plant, and water infrastructure improvements.
The study session will begin at 5 p.m. in the lower-level conference room, with the regular meeting set for 6:30 p.m. in commission chambers at the city administration building, 401 W. Garriott.
Commissioners will consider changing the zoned land use for property at the northwest corner of Chestnut and Cleveland from low-intensity residential to medium-intensity residential.
A 16-acre tract immediately adjacent to Chestnut and Cleveland will be considered for rezoning to C-2 planned business center district.
The proposed rezoning area lies within the city’s 2025 Comprehensive Plan, which identifies the Chestnut and Cleveland intersection as a medium intensity Community Commercial Node 2, with 7.5 developed acres on each corner of the intersection.
This proposal would increase the size of the city’s planned commercial node on the northwest corner from 7.5 acres to 16.09 acres.
The area under consideration for rezoning to medium-intensity residential currently is being used as pasture, and includes a water detention area for the Rolling Acres development.
The city commission agenda indicates the city is “considering acquiring 27 acres east of Cleveland and south of the railroad tract for the detention site” in fiscal year 2012-13.
Commissioners also will consider a Tax Increment Finance district, which would create an estimated $27 million in incentives over 25 years to bring a Northstar Agri Industries canola processing plant and 55 new jobs to the city.
A Tax Increment District creates incentive for new development by allowing a portion of the ad valorem tax revenue created by building new business to be returned to the developing company to defray start-up investment.
Estimates for the plant investment range from $150 million to $250 million, with TIF compensation ranging from $12 million to no more than $15 million.
Under the terms of the proposal, 90 percent of the increased ad valorem taxes from the TIF district would go toward Northstar’s investment compensation, compensating the city of Enid for infrastructure improvements and interest.
All tax-receiving entities would continue to receive ad valorem revenue from the current assessed value of the 399 acres on which the plant will be built, plus 10 percent of any increase in ad valorem revenue due to the plant’s development over the next 25 years.
Tax-receiving entities affected by the ad valorem tax drawn from the TIF district are: Pioneer-Pleasant Vale Public Schools; Garfield County, through the county general fund and the county school levy; Garfield County Health Department; city of Enid sinking fund; and Autry Technology Center.
The proposed canola processing plant would use an estimated 550,000-750,000 gallons of water per day. The city is projected to increase its water supply capacity by one million gallons per day in 2013 and two million additional gallons per day in 2014.