Claremore Daily Progress

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August 22, 2012

Oklahoma Plaza incentive reworked

$2 million approved for infrastructure improvements

CLAREMORE — Claremore City Council says yes to Tapp Development as they unanimously approved Monday an increase in city funded infrastructure improvements for Oklahoma Plaza.

The council voted unanimously to approve the proposal that will increase the infrastructure improvements to $2 million.
The original agreement with the development there were two different items for incentives, construction of a roadway that would connect to Hwy. 66 and $3 million in sales tax incentives, according to City Manager Daryl Golbek.
Jim Tapp, the developer for Oklahoma Plaza proposed an exchange and he asked the city to pay for more infrastructure improvements up front. In return, he has decreased the sales tax incentive amount.
“The net effect is a $1 million savings for the city,” Tapp said.
This work is being broke into three phases for infrastructure including roads, electric and other utility related improvements, according to Tapp.
The projected completion of the three phases of construction is six months, Tapp said.
After the council approved the new plan Ira Green Construction will have the green light to complete phase one this work, Tapp explained.
Oklahoma Department of Transportation has approved the plans.
Lowes had land restrictions on the property and the plans were submitted for approval. Lowes has approved the documents, Tapp said.
“We are fully engineered and fully entitled for these improvement,” Tapp said.
Tapp did not disclose the identity of any future business that are currently interested in the development.
“We have stirred up in the past 60 days to bring credibility to what we are doing here,” Tapp said.
As the project moves forward there will be changes to the exit from Hwy 66 to Fredrick Road.
The road will be slightly modified to meet the transportation requirements of ODOT, according to Tapp.
“There is nothing holding us up at this point,” Tapp said.

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