TIF Vote Expected Monday Evening

Monday, December 17th 2007, 11:51 am
By: News On 6

The Jenks City Council is expected to vote Monday evening on a tax increment-financing plan to allow for a billion dollar development along the Arkansas River. The 350-acre project would include a new home for the baseball Drillers, retail, condominiums and office space. It hinges on a $294 million TIF plan, which would freeze the property tax rate at its current level. Any taxes above that level are given back to the developers to help pay for infrastructure.

The Jenks school district has come out against the TIF, saying while the development is a great idea, it would give the district less money to spend on the schools and students.

The News On 6 will let you know what the city council decides at Monday night’s meeting.

Related stories:

11/7/2007 City And School District Discuss Development

11/13/2007 River District Clears A Hurdle

12/3/2007 River Development Project To Be Discussed