, Muskogee, OK


March 1, 2013

Compromise on sale price of property

— Development of the intersection of U.S. 69 and Shawnee Bypass is too vital for the city and county to quibble over the sale price of county property.

The Muskogee Redevelopment Authority has agreed to a $1.1 million loan from the City of Muskogee Foundation to buy six acres at the southwest corner of the intersection.

The city has offered the county $826,596. That is below the appraised value of the property of $1.03 million.

County commissioners are skeptical.

If this were a normal transaction, we would want the county to get top dollar.

But Muskogee county is essentially  negotiating with the city of Muskogee.

Both sides should maintain focus on what retail development of that intersection would do for  both the city and the county.

The city would receive sales tax revenue from any business that is developed there.

The county would receive some sales tax, but also property tax.

There is no positive cash flow coming from undeveloped property.

City and county officials believe developing one corner of one of the busiest intersections in the city will create a domino effect resulting in businesses on every corner.

The yearly income of property and sales tax revenue would more than make up for any low-ball offer the city makes.

The low-ball offer might also give the city a little wiggle room in negotiations with potential buyers.

The city would be able to take a little less than appraised value for the land because it did not pay appraised value to buy it from the county.

The sooner the property is developed, the sooner citizens of both the city and county benefit from the economic development.

If both sides agree to that premise, then why not agree to an equitable split of any proceeds greater than the city’s purchase price?

The city needs to make enough money on the sale to developers to quickly pay back the loan to the City of Muskogee Foundation.

The county gets more than $800,000 from just the initial sale.

The city does not need to make a killing on this sale.

The city needs to make it possible to create sales tax revenue from each corner of the intersection.

The county had decades to get moving on the property.


We all win.

Text Only
AP Video
Kerry: Humanitarian Cease-fire Efforts Continue Raw: Corruption Trial Begins for Former Va Gov. The Carbon Trap: US Exports Global Warming UN Security Council Calls for Gaza Cease-fire Traditional African Dishes Teach Healthy Eating 13 Struck by Lightning on Calif. Beach Baseball Hall of Famers Inducted Israel, Hamas Trade Fire Despite Truce in Gaza Italy's Nibali Set to Win First Tour De France Raw: Shipwrecked Concordia Completes Last Voyage Raw: Sea Turtle Hatchlings Emerge From Nest Raw: Massive Dust Storm Covers Phoenix 12-hour Cease-fire in Gaza Fighting Begins Raw: Bolivian Dancers Attempt to Break Record Raw: Israel, Palestine Supporters Rally in US Raw: Air Algerie Flight 5017 Wreckage Virginia Governor Tours Tornado Aftermath Judge Faces Heat Over Offer to Help Migrant Kids Kangaroo Goes Missing in Oklahoma More M17 Bodies Return, Sanctions on Russia Grow

Should a federal judge have the power to strike down Oklahoma's ban on gay marriage?

     View Results
Featured Ads

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.