From the DOK:
Phantom opposition presented by Rep. Mike Reynolds was deemed "too little, too late” Tuesday to stop creation of a tax increment financing district for the planned Devon Energy Corp. tower. The $175 million district, approved 8-1 by the Oklahoma City Council, was requested by Devon Energy to improve the downtown neighborhood around its future $750 million world headquarters.

Reynolds told the council he heard from taxing entities for the proposed district and quoted them as saying they opposed the move and weren’t allowed to ask questions. "I’ve been alarmed for some time about TIFs, about how they take away money from schools and libraries,” Reynolds said, but refused to name opponents when pressed.

Ward 4 Councilman Pete White reminded Reynolds the group that oversees creation and operation of the city’s TIF districts held open hearings. "If any of us had a contact with someone, I’d like to know who that is,” White said. "But to just throw a cloud over it through insinuation — it’s too little, too late.”

Reynolds also questioned whether inclusion of property taxes in the TIF district was discussed during the meeting because he did not see them in any minutes.


It may mean millions
Dan Batchelor, an attorney for the Oklahoma City Urban Renewal Authority, reported the location of the proposed tower and district has not produced any property or sales taxes in decades.
"It is unlikely we could have this project without generating public funds to develop the framework ... around it and circumstances desirable to make it possible,” Batchelor said. Batchelor also cited a consultant’s report that the tower would generate more than $7 million in taxes from spin-off development that would benefit schools, libraries and other property tax recipients. The lone council opponent, Brian Walters, said he worried about other companies approaching the city and asking for a similar deal.

Councilman Pat Ryan responded he hopes other companies will approach the city asking for a TIF district to improve downtown streets and parks as a condition to building a new skyscraper.

"I can’t think of anything better,” Ryan said.