Century Center redevelopment request goes to city TIF panel
A committee tasked with overseeing expenditures from the tax increment financing district established with construction of Devon Energy Center will consider a request of $1.5 million from the Oklahoma Publishing Company toward redevelopment of downtown's Century Center Mall.
The Oklahoma Publishing Company announced Monday it is in negotiations to relocate from its current home at 9000 N Broadway to Century Center, 100 W Main, which has been empty for 20 years. OPUBCO would be moving about 350 employees and an annual payroll of more than $26 million into 67,000 square feet.
Plans call for a complete makeover of the building, and the application being heard Friday by the Devon Implementation Committee is for $1.5 million to be reimbursed to the company after the development and move is completed. The application requests the money in connection with tenant improvements, equipment, furnishings and fixtures.
A staff report to the committee forecasts the development will generate $1.3 million in sales and property taxes over a 10-year period. The application also will require approval by the Tax Increment Finance Committee and the Oklahoma City Council.