Measure moves to City Council for consideration
The multi-jurisdictional Tax Increment Finance (TIF) Review Committee voted April 24 to approve the creation of a TIF district for improvements to Eastland Shopping Center — a project that officials say is important for the future of the city, county and schools.
“This is an important development for the City of Bartlesville, and is an investment in our future — benefitting the city, county and schools in the long-term,” said Bartlesville City Councilor Alan Gentges, who serves as chairman of the committee, which also includes representatives from Bartlesville Public Schools, Washington County and Tri County Tech.
“The Eastland TIF district will help secure current funding levels and provide the opportunity of increased school funding in the future, as well as funding for City and County services. Until the State fully funds our schools, we have to do what we can to help ourselves.”
If ultimately approved by the Bartlesville City Council, the TIF district would capture tax increments generated by new development at the center, which would be used to fund infrastructure improvements to the center’s west entrance. Once the funding is complete, the new tax revenues would help fund public education, as well as city and county services.
The measure has drawn support from Bartlesville Public Schools, Washington County and the City of Bartlesville.
According to Washington County Assessor Todd Mathes, if the TIF district is not approved by the council and development does not occur at the center, the annual property value assessment of Eastland Center is likely to decrease — resulting in fewer dollars for city, county and schools.
“If nothing is done, the property will almost certainly depreciate in value,” Mathes said. “This will mean less money for local schools and the services provided through City and County government.”
BPSD Chief Financial Officer Preston Birk also expressed support for the measure.
“The way I see this, we can do nothing and our revenues will eventually go down, or we can approve it and hopefully see growth in tax revenues and funding,” Birk said.
“It’s important to note that none of the agencies that receive these tax revenues will see any negative impact to their current funding, including education,” City Administrative Director/CFO Mike Bailey said, noting that only tax increments generated by the new development will be captured by the TIF district. “Once the TIF district expires, those revenues will then be available to the agencies that rely on this funding.”
According to Eastland Shopping Center owners Dan and Steve Wells, new development is planned for the center. Hobby Lobby is relocating to the former Atwoods building, and Chick-Fil-A has submitted plans for the construction of a new restaurant near the shopping center’s west entrance.
According to Dan Wells, an agreement has not been formally reached with the restaurant chain, however.
“They have asked for more time,” he said recently.
Due to safety concerns at the intersection, the City of Bartlesville is unable to approve further development at the center, unless improvements are made.
“This is a public safety issue,” Community Development Director Lisa Beeman said. “Chick-Fil-A and the Hobby Lobby relocation are approved for construction, but new out-parcels cannot be approved until the intersection is made safe.”
The Wells’ say they plan to construct at least two new out-parcels and market to new business if the TIF district is approved.
“We’ve received several calls from businesses interested in locating here,” Dan Wells said. “We have to tell them we don’t have anything at this time, but we’re working on it.”
For more information, see Eastland Center Tax Increment Finance District Fact Sheet or Eastland TIF District quick glance.
