The City Council on Monday voted 4-0 to approve a rezoning request and the establishment of a tax increment financing district to help finance a proposed development of 115 acres on Adams Boulevard east of Silver Lake Road, known as Silver Lake Village. Plans for the development include several major retail establishments and, eventually, the construction of high-end apartments.
Following a public hearing during which some residents expressed concern about floodplain issues and buffering between the residential neighborhood and the planned commercial development, the council voted in favor of a request to rezone the property to permit the development.
The development is a project brought forward by the Bartlesville Development Authority. Several meetings have been held associated with the development, resulting in recommendations to approve the project by the City Planning Commission, and the creation of a TIF district by the Tax Increment Finance Review Committee. The TIF includes the 115 acres in question, located on the south side of Adams Boulevard east of Silver Lake, as well as surrounding property owned by the City of Bartlesville. A TIF district would capture property taxes generated by the development to help repay funds used to develop the project.
Mayor Tom Gorman included in his motion for approval a request for city staff to work with developers to find suitable buffers between the development and Woodland Park residential properties. The addition is located just east of the development property.