Council Policy 1-10 Economic Development Assistance Policy - Retail

SUBJECT: Economic Development Assistance Policy - Retail

 

PURPOSE: To develop and initiate an economic retail development assistance policy to provide retail development incentives.

 

BACKGROUND: During the past year, it has become very apparent to the City of Lawton that increasing outside interest from commercial enterprises makes it necessary for the City to set in place a retail development assistance policy. A city Council policy covering the economic development incentives and guidelines for potential retail projects seeking financial support is important given statutory limitations established by the State of Oklahoma. In this regard, the attached Economic Development Assistance Program, Council Policy 1-10, adopted by the Lawton City Council on February 24, 2009, 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 scope and size 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: None

 

EFFECTIVE DATE: This policy becomes effective February 24, 2009.

 

____/s/ John P. Purcell, Jr._________

JOHN P. PURCELL, JR., MAYOR