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July 23, 2009

Friends of Lake Texoma call for referendum on TIF Funding for Pointe Vista Development

For immediate release: Thursday, July 23, 2009

Contacts: Stephen Willis, Friends of Lake Texoma State Park (FLTSP) ( 580) 564-5047
Boyd Steele, President, FLTSP (580) 564-2075
Shannon Meyer, Executive Director, Defense Of Place (970) 963-0629

Marshall County Commissioners Expected to Approve Pointe Vista Tax Relief
Friends of Lake Texoma State Park Sponsoring Public Referendum on Pointe Vista Tax Scheme

(Kingston, OK) -- Marshall County Commissioners may approve the Pointe Vista Tax Increment Financing (TIF) scheme following a public meeting in Kingston tonight, according to reports received by the Friends of Lake Texoma State Park.

The vote is expected to occur regardless of county taxpayers opposition to the proposed $329 million public tax subsidy of virtually all of Pointe Vista's project costs, past and future.

The Tax Increment Financing (TIF) proposal for Pointe Vista Development and Chesapeake Energy CEO Aubrey McClendon, was approved by the Marshall County TIF Review Committee prior to the first of two legally required public meetings.

County TIF Attorney Nate Ellis said the reason they were holding these public hearings after the TIF Committee voted to approve the draft TIF resolution is because the law allowed them to do so. But that did not provide for public comments on the resolution, which also did not include the Increment District Legal Description, or the Project Area Legal Description, Exhibits "B" and "D."

That first meeting was held in Kingston on July 14th. The Marshall County TIF committee decided to approve Pointe Vista's incomplete draft resolution prior to the hearings required by the Oklahoma Local Development Act.

"Attorneys for the Friends of Lake Texoma State Park are preparing a referendum petition on any Marshall County Resolution to approve a Tax Increment Financing (TIF) District for Pointe Vista Development, LLC of Oklahoma City," according to Eldon White, board member of the park advocacy group based in Kingston.

"If the County Commissioners deny us the opportunity to weigh in on the TIF resolution, The Friends will proceed with our public referendum to guarantee that Marshall County voters have the opportunity to have the final word in the matter."

Boyd Steele, President of the Friends group stated, "What we have here is a classic example of Corporate Welfare for the politically well- connected Pointe Vista Development. They, like all corporate special interests, seek to Privatize the Profits, and Socialize the Costs."

"Furthermore, who is going to pay for the police and fire protection services for Pointe Vista during the 25 years until this thing supposedly returns benefits to Marshall County?"

Stephen Willis, Director of the Friends shared, "We represent the public interest. We will insure that the voters and taxpayers of Marshall County have the final word on tax relief for Pointe Vista Development. That's how it's supposed to work in a real democracy."

The Friends of Lake Texoma State Park encourage all concerned citizens, taxpayers and area property owners to attend the meeting in Kingston at 7 PM tonight at the Kingston Elementary School Auditorium. For more information on the Friend's Referendum, call 580-564-7205.

Posted by dop_editor at July 23, 2009 09:53 PM

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