Pauls Valley, OK, Pauls Valley Democrat

Local News

December 27, 2012

Business district progress makes wait worth it

(Continued) —

“It’s hard to make infrastructure improvements because it’s not just the city of Pauls Valley, it’s every town,” said Frizell, adding how the improvements will include along with new paved roads updated utilities and drainage works. “You have hard time putting money aside for improvements in the future… A lot of time TIF districts are created as a business comes in. We did it the way it was designed to be, we created the district anticipating growth… so it would help anybody that came.”

It was during the meeting that Frizell confirmed that money from other tax areas like a half cent sales tax for road work could also be used if needed and the first business to benefit from this TIF district work is a recently confirmed Tractor Supply store. Part of that early phase was helped along when council members approved a lot split recommended by planning and zoning at 104 and 106. N. Indian Meridian in order to allow the company to have all the land it needed for the space.

As businesses are attracted to the district, more funds would be made available from the property tax collection, spurring even more development. However, the amount of time these taxes can be collected runs out after the 15 ½ year point and actually decreases from the 100 percent to 50 percent of property value growth after the coming year, according to the 2007 plan.

This increases the need to attract these businesses as soon as possible in order to honor an agreement that will return additional property tax growth money to areas like the Whitebead School District and the County who have collected and depend on the base amount, said Gamble.

“We’re starting to grow,” said Frizell. “It’s a domino effect... you’re going to start seeing businesses start moving in out there because that’s where the traffic is, you put your businesses where the high traffic counts are.”

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