Alva Review-Courier -

Lynn Says

Alva Regional Multi-Purpose Facility Review Committee goes over arena project

 

The highlighted area in this aerial shot of Alva is the proposed Tax Increment District. There are no property or sales tax increases in this area. Instead, the current tax revenue and sales tax revenue becomes a baseline. After the arena is built, any new construction (for example, a few motels or restaurants), would be NEW tax revenue (above the previous baseline) because of the traffic drawn by the arena. This new money becomes available to help pay infrastructure development such as wider roads, major sewer line expansions and similar needs for such a large project. The arena itself would be financed by local money and not from the TIF District. This method has been used to finance such projects as Bricktown in Oklahoma City.

For a couple of years, a group known as the Alva Arena Authority has been trying to put together a plan to build a substantial arena facility to help with economic development in Woods County. Part of the financing of the infrastructure around the arena hopefully will come from a tax incremental financing (TIF) district.

Dan Batchelor, attorney and chairman of the Center for Economic Development Law, along with his associate, Jeff Sabin, traveled to Alva Wednesday to explain TIF district procedure to a group of community leaders who would be impacted by developing such a project.

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