Henryetta Economic Development Authority (HEDA) members were not able to help in construction of a business site on East Main.
Kannon and Cade Bailey asked the Authority for $20,000 to build a concrete stem wall on a building that will be erected at 708 East Main.
The 4,000 square foot building would be broken up into four, 1,000-square foot retail establishments according to Kannon and Cade Bailey.
They total building cost would be between $350,000 and $400,000. The request was for $20,000 to be provided in a lump sum.
“We typically try to reimburse the businesses based on sales taxes generated,” said HEDA chair Keith Estes. “We want to bring in new businesses to town and generate those tax dollars.”
He went on to explain that providing such a grant would be setting a precedent that would result in a number of businesses looking for similar funds.
“We wish we had the funds to dole out to every business. We have tried to generate a revenue of funds as they generate tax dollars then we can refund them back.”
A similar award was given to Shoney’s Restaurant with the stipulation that the funding would cover no more than five years at a preset amount. Since then, Shoney’s has provided the city with a quarterly report of sales taxes generated and a percentage of that total reimbursed to the business.
The brothers said a steel frame building will be placed on the site and is projected to arrive in mid-December. A parking lot would provide space for up to 30 vehicles.
In other business, HEDA members heard a report from Roy Madden about the Quik Trip project.
He said recent talks with Oklahoma Department of Transportation and QT officials have met with success. “We got ODOT off the dime and should see movement in the next 45 days,” he said. That would include demolition of the other motel on the property on East Main.
Madden, who serves as HEDA secretary and treasurer, reported the city has sent a letter to the developers wanting to place a travel center and motel west of town. The letter from city attorney John Insabella said the city can only and has authorized a 100-year lease on the property.
The developers said their financial institution was wanting the property to be owned by the developers.
“We cannot deed the land to them,” he said. A similar long-term lease was provided to get the East Oklahoma Family health Center built on the former smelter site several years ago.
HEDA members renamed Estes as chairman for the coming year and elected Jill Francis to hold down the vice-chair position.