Okla. County proposes bond to buy GM plant
The Journal Record
March 12, 2008
OKLAHOMA CITY – Oklahoma County residents will be asked to approve a $55 million bond issue in May to purchase the empty General Motors plant so it can be leased to Tinker Air Force Base, County Commissioner Ray Vaughn said Tuesday.
The county’s three-member board of commissioners is expected to vote today to set a May 13 countywide election date. Vaughn said that if the issue is approved the 3.8 million-square-foot plant and the 430 acres it sits on could be back in use before the end of the year.
“This purchase is an expansion, of course, and is critical to the creation of more jobs and the continued growth of our economy,” Vaughn said. “Tinker is so important to our entire state, with more than 27,000 Oklahomans from 48 different counties commuting and working on base. The General Motor facility served as the worksite for thousands of Oklahomans over the years and everyone involved is anxious to see Oklahomans back in this facility.”
General Motors shut down its sport-utility vehicle assembly line at the plant two years ago, eliminating about 2,500 union jobs. The building has been vacant since then. The automaker was unwilling to sell the property until recently.
Local government officials have been negotiating with GM for about a year, and a deal was finalized Monday, Vaughn said. By law, the county can pay only the property’s appraised value; he said the agreed-upon price was slightly less than that. If the question passes, the bond issue would increase the property tax on a $100,000 home by 82 cents per month, officials said. Vaughn and others said the public would benefit by the creation of jobs and by helping maintain Tinker’s competitive position in a tight market.
Brig. Gen. Judy Fedder said the plant space could easily house operations currently spread throughout 69 buildings on base, thus allowing badly needed expansion and renovations and improving efficiency overall. Many of those buildings, which lie in runway clear zones, would be demolished. The GM facility would become the Tinker Aerospace Complex for the 76th Maintenance Wing operations.
If voters support the plan, the U.S. Air Force would pay for nearly $4 million in infrastructure upgrades to the property and spend from $50 million to $100 million over five years to make it usable for military purposes, Fedder said. About a third of the plant is expected to be occupied by private sector businesses involved in supporting the military aeronautics industry.
Officials were unable to predict what sort of businesses would be sought. The full slate of questions for the May county election is expected to include other issues for disaster funds and county building upgrades. Each issue will be voted on separately, for a total of $84.5 million.
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