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 Lawton
 Code of Ordinances
 Chapter 10. FINANCE AND TAXATION
 Article 10-15. LAWTON TAX INCREMENT FINANCING ORDINANCE
 Appendix 10-15-3. Amended Lawton Downtown Economic Development Project Plan

  § 10-15-3-307. Fulfillment of statutory requirements.  

Latest version.

  • The City Council of Lawton hereby finds that:

    A.

    The Project Area, including Increment District No. 1 and Increment District No. 2, is a reinvestment area as defined by the Local Development Act and is located within a State-designated "Enterprise Area;"

    B.

    The improvement of the Project Area is likely to enhance the value of other real property in the area and to promote the general public interest;

    C.

    The guidelines of paragraphs 1 and 2 of 62 O.S. § 852 shall be followed;

    D.

    The aggregate net assessed value of the taxable property in all ad valorem increment districts, as determined pursuant to the Local Development Act, 62 O.S. § 862, within the City does not exceed 25% of the total net assessed value of the taxable property within the City;

    E.

    The aggregate net assessed value of the taxable property in all ad valorem increment districts, as determined pursuant to the Local Development Act, 62 O.S. § 862, within the City does not exceed 25% of the total assessed net value of any affected school district located within the City;

    F.

    The land within all increment districts within the City does not exceed 25% of the total land area of the City;

    G.

    The Amended Project Plan is feasible and conforms to the Comprehensive (Master) Plan of the City.

(Ord. No. 10-22, § 2, 6-8-2010)