{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-874","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-874","heading":"Establishment of incentive district - Project plan for","body":"development or redevelopment – Resolution - Public hearing - Notice.\n\nA. Upon receipt of the approval of the Executive Director of\n\nthe Oklahoma Housing Finance Agency as provided in subsection C of\n\nSection 4 of this act, the governing body may proceed with the\n\nestablishment of the district. Before doing so, the governing body\n\nshall adopt a project plan for the development or redevelopment of\n\nhousing and public facilities in the proposed district. Such\n\nproject plan may include plans for one or more projects, and the\n\nlength of any individual project shall not exceed fifteen (15)\n\nyears. The project plan shall include, but not be limited to, the\n\nfollowing:\n\n1. The legal description and map required by subsection A of\n\nSection 4 of this act;\n\n2. The existing assessed valuation of the real estate in the\n\nproposed district, listing the land and improvement values\n\nseparately;\n\n3. A list of the names and addresses of the owners of record of\n\nall real estate parcels within the proposed district;\n\n4. A description of the housing and public facilities project\n\nor projects that are proposed to be constructed or improved in the\n\nproposed district, and the location thereof;\n\n5. A listing of the names, addresses and specific interests in\n\nreal estate in the proposed district of the developers responsible\n\nfor development of the housing and public facilities in the proposed\n\ndistrict;\n\n6. The contractual assurances, if any, the governing body has\n\nreceived from such developer or developers, guaranteeing the\n\nfinancial feasibility of specific housing tax incentive projects in\n\nthe proposed district; and\n\n7. A comprehensive analysis of the feasibility of providing\n\nhousing tax incentives in the district as provided in the Oklahoma\n\nRural Housing Incentive District Act, which shows that the public\n\nbenefits derived from such district will exceed the costs and that\n\nthe income therefrom, together with other sources of funding, will\n\nbe sufficient to pay for the public improvements that may be\n\nundertaken in such district. If other sources of public or private\n\nfunds are to be used to finance the improvements, they shall be\n\nidentified in the analysis.\n\nB. Prior to the adoption of the project plan and designation of\n\nthe district, the governing body shall adopt a resolution stating\n\nthat the governing body is considering such action. The resolution\n\nshall provide notice that a public hearing will be held to consider\n\nthe adoption of the project plan and the designation of the district\n\nand contain the following elements:\n\n1. The date, hour, and place of the public hearing;\n\n2. The contents of paragraphs 1 through 4 of subsection A of\n\nthis section;\n\n3. A summary of the contractual assurances by the developer and\n\ncomprehensive feasibility analysis as specified in paragraphs 6 and\n\n7 of subsection A of this section; and\n\n4. A statement that the project plan is available for\n\ninspection at the office of the clerk of the municipality or county\n\nduring normal business hours; and\n\n5. A statement inviting members of the public to review the\n\nproject plan and attend the public hearing on the date announced in\n\nthe resolution.\n\nC. The date fixed for the public hearing shall be not less than\n\nthirty (30) nor more than seventy (70) days following the date of\n\nthe adoption of the resolution. The resolution shall be published\n\nat least once in a legal newspaper of general circulation in the\n\nmunicipality or county, with the final publication being not less\n\nthan one (1) week or more than two (2) weeks preceding the date\n\nfixed for the public hearing.\n\nD. A certified copy of the resolution shall be delivered to the\n\nplanning commission of the municipality or county and the board of\n\nany school district levying taxes on property within the proposed\n\ndistrict. If the resolution is adopted by a municipal governing\n\nbody, a certified copy also shall be delivered to the board of\nre than two (2) weeks preceding the date\n\nfixed for the public hearing.\n\nD. A certified copy of the resolution shall be delivered to the\n\nplanning commission of the municipality or county and the board of\n\nany school district levying taxes on property within the proposed\n\ndistrict. If the resolution is adopted by a municipal governing\n\nbody, a certified copy also shall be delivered to the board of\n\ncounty commissioners of the county. If the resolution is adopted by\n\na county governing body, it also shall be delivered to the governing\n\nbody of any municipality located within three (3) miles of such\n\nproposed district.","path":["OK Code","Title 62"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os62.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"5164e36254cd0cbc100a4ca684ba6becaa28508220957b08c0e28e9130515a26","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-873","next":"us-ok/okla.-stat.-tit.-62-62-875"},"notice":"GroundRules: Original legal text. Not legal advice."}