Council Policy 1-11 Economic Development Assistance Policy – Industrial

SUBJECT: Economic Development Assistance Policy – Industrial

 

PURPOSE: To develop and initiate an economic industrial development assistance policy to provide industrial 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 an industrial development assistance policy. A city Council policy covering the economic development incentives and guidelines for potential industrial 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 1-11, adopted by the Lawton City Council on September 21, 2009, recognizes the City’s interest in assisting viable industrial development projects and the procedural guidelines for securing public investment through the City of Lawton.

 

This industrial development policy will be administered by the Lawton Industrial Development Authority (LIDA), 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 industrial development shall be at the sole discretion of the City Council.

 

REFERENCES: None

 

EFFECTIVE DATE: September 21, 2009



 

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

JOHN P. PURCELL, JR., MAYOR