EDMOND — The city of Edmond staff wants $11 million of the 2000 capital improvements sales tax money to invest in a
Assistant City Manager Steve Commons referred to budget items of $5.5 million over the next two fiscal years as an economic development benefit.
Details of what is going to happen in far north Edmond have not been made public because of negotiations between the city and Covell 35 Development LLC. There have been discussions about a 20,000-square-foot conference center, hotel, office buildings, upscale shopping and 170,000-square-foot indoor athletic complex.
A large portion of the city's role could be providing infrastructure improvements such as roads and utilities. Financial incentives could be an
The secrecy will change come April 10, when the city council holds a workshop to discuss what its role will be in the development that could bring additional sales tax dollars to the city.
The workshop is to begin at noon and go until the discussions stop.
Commons said he had to add the $11 million to the budget projection because the budget must be approved in May.
Members of the Capital Projects and Financing Task Force this week had questions as to whether the 2/3 percent sales tax money passed by the voters in 2000 could go for economic development. Voters approved a list of projects the money could be spent on.
The task force is a watchdog over the money and makes recommendations to the city council on how to spend it.
Chairman Ken Rees said he wanted the city attorney to clearly look at what the voters approved to determine whether the spending is appropriate.
“We have never done economic development incentives with this funding before,” Rees said. “I question if this funding source is an appropriate source.”
Commons said they have been investigating the question.
“The city attorney has said it is an appropriate funding,” Commons said. “We are taking it to the next level.”