Council Policy 1-10 Economic Development Assistance Policy - Retail

SUBJECT: Economic Development Assistance Policy - Retail

PURPOSE: To establish and maintain an economic retail development assistance policy to provide retail development incentives.

BACKGROUND: A City Council policy outlining economic development incentives and guidelines for potential retail projects seeking financial support is important given constitutional and statutory limitations established by the State of Oklahoma. In this regard, the attached Economic Development Assistance Program, Council Policy 1 - 10, recognizes the City's interest in assisting viable retail development projects and the procedural guidelines for securing public investment through the City of Lawton.

This retail development policy will be administered by the Lawton Economic Development Authority (LEDA), acting as an advisory committee to the Lawton City Council. All final decisions regarding the nature and amount of any financial incentives offered to a proposed retail development shall be at the sole discretion of the City Council.

PROCEDURES: See Attachment A

REFERENCES: OK Const. Art. 10, § 17 and Statutory/Case law

EFFECTIVE DATE: This policy becomes effective November, 2018.

____/s/ Fred L. Fitch_________

Fred L. Fitch Mayor, MAYOR