Muskogee council approves TIF for industrial parks, county to consider another [Yahoo! Finance]
OGE Energy Corp (OGE)
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Source: Yahoo! Finance
"There are a number of prospects out there," Muskogee County District 1 County Commissioner Ken Doke said. Muskogee City Council members agreed last Monday to create a Tax Increment Financing (TIF) district south of West 53rd Street South. Muskogee County Commissioners are to vote on a TIF district along South 24th Street at their upcoming meeting, 9 a.m. Monday. A TIF allows a city or county to capture part of new ad valorem and construction taxes generated as a result of a project. Revenues are used to fund infrastructure improvements, such as roads, said Nate Ellis, attorney with Public Finance Law Group pf Oklahoma City. Ellis said a TIF is an economic development tool used to incentivize capital investment in undeveloped areas. "It allows a city to identify a specific geographic area to capture the incremental new tax revenue that's generated as a result of development and use that revenue to help offset infrastructure costs and other necessary costs related to making
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