Plans to build a new parking garage in downtown Tulsa are still up in the air. The question being debated is - does the project warrant tax abatement money from the city?
The city has set aside several million dollars to help build up downtown by providing tax abatements for certain projects. But some questioned whether the planned parking garage is the best recipient of that tax help.
Price Family Properties wants to build a parking garage at 4th and Main but said they can't do it unless they get the abatement money. Developers said the parking garage they hope to build would cost $15 million and add more than $50,000 annually in city sales tax revenue.
Daniel Regan, property manager for the group, went in front of the local development act review committee Tuesday, April 25. He made the case that the garage deserves close to $1 million in tax abatements and said without it, the project will die.
"Every expert says we don't need more parking," said Committee Member Jonathan Belzley, "we need a better coordinated effort on the part of the city."
The committee also didn't have any renderings of the project to review, and some committee members wanted to see renderings of what it would actually look like before voting.
"It means we need to know are there windows on the bottom floor? Is there a ramp that gets you to a door and where might the doors be? Nobody is going to hold you to the linear dimensions," said Blake Ewing, committee member.
Regan didn't have any renderings to show or express interest in pushing back the vote for more time to provide those details to the group.
But committee members voted to give Price Family properties another chance to come back with more information anyway.
Price Family Properties has until the next meeting to come up with more comprehensive renderings and specific reasons as to why it cannot happen without the $900,000 abatement.