Oklahoma City Council green-lights revitalization plan
“The city council agreed Tuesday on a proposal to invest $45 million to revitalize a blighted commercial corridor in northeast Oklahoma City.
The vote for the Northeast Renaissance project was unanimous.
In a separate vote, council members rejected the idea of adding an additional layer of review for owners whose property is seized as redevelopment unfolds.
The Northeast Renaissance project is intended to stimulate investment along NE 23 east of the state Capitol.
A centerpiece of the plan is a new grocery store and the Kings Crossing shopping center at Martin Luther King Avenue and NE 23.
After debate Dec. 30 over the potential for unfair treatment of those whose homes and businesses will be taken, no discussion preceded Tuesday’s vote.
The vote included creation of a tax-increment financing district to raise money.
As the area is redeveloped, new tax revenue generated by increasing property values and business activity is to be used to repay the money borrowed.
City Manager Jim Couch said in a memo to council members that taxpayers’ commitments are expected to leverage $225 million in new investment.
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Ward 1 Councilman James Greiner and Ward 2 Councilman Ed Shadid proposed giving property owners whose homes and businesses are seized through eminent domain an opportunity to appeal those actions to the council.
Power over use of eminent domain in the redevelopment district rests with the Oklahoma City Urban Renewal Authority, a panel of five appointed members.
Appeals would involve litigation and likely be costly.”
Crum, William. The Oklahoman 13 January 2015.