City Council

-i 4ff couN.rL AGENDA ITEM NO. X D 9/30/69 ,/ ?,,2'a-S[,0 " fu-'--" X/tafuu''$t couNct L MEMo No. 1596-69 ,, (r, September 23, 969 TO: Mayor and City Counci I sEP s0 1969 FROM: Ci ty Manager SUBJ ECT: Payment in I ieu of taxes rrom okrahoma city Hous,"t"Afiryp The 0klahoma City Housing Authority on September 17, 1969 advised the City that the project at S.E. I5th and High Streets comes within the provisions of prior agreements approved by the City Council for the payment of in lieu of taxes amounts to the City. By resolution dated April 4, 1967 and a Cooperation Agreernent of the same date the City under Section 402 of the Housing Act of 1954, is to be notified of the location of such public housing with an estimate of the annual amount of payments in lieu of taxes which wi I I be made for ,the project and of the amount of taxes which would be levied if the property were privately owned. The Housing Authority advises us that their estimate of the annual amount of payment of in I ieu taxes on this project is estimated at $7 ,200.00 and that the annual amount of taxes which would be levied were the property privately owned is estimated at $36,000.00. 0f the estimated in lieu of taxes amount of $7,200.00, one-half will be paid to the School District in which the project is located and one-half will be paid to the City. Upon receipt these funds are placed into the Cityts sinking fund thereby reducing ad valorem tax requi rements. Payments in lieu of taxes to the City since the Cooperation Agreement of April 4, 1967 are as follows: For Fiscal Year I 966 -67 $ 30 55 For Fiscal Year I 967 -68 16,2 55 37 For Fiscal Year I 968-69 l3 ,606 8s(l) (l)First year of sharing in lieu of tax payments with School District as per recent statute changes. It is recommended that the City Council receive this information from the Oklahoma C i ty Hous i ng Author i ty. pectful ly s itted, Ro 0 Ia Ci ty Ma ger At tachment OKLAHOMA CITY HOUSING AUTHORITY t- 427 N.W. 6rh STREET o OKLAHOMA CtTY, OKLAHOMA 73102 Areo Code 405 / 235-1651 LARRY J. WOLF, Choirmon E. G. STEWART, JR., Vice'Choirmon L. D. NEWTON, Commissioner Clry DR. BYRON BISCOE. Commissioner September 17, L969 J, B. HARRISON, Commissioner CLAYTON FONDREN, Executive Di reclor Z I Members of the City Counci-l City of Oklahoma City VIA REGISTERED MAIL Oklahoma City, Oklahoma Gentlemen: The Okl-ahorna City Ilousing Authority is developing a project at S. E. 15th and High Streets pursuant to approvals already given by the City Council of 0klahona City. These approvals were contained in a resolution dated April 4, L967, and a Cooperation Agreement dated April 4, L967. Section 4A2 of the Housing Act of 1954 (PL-560, 83rd Congress), amending the Housing Act of. L937, as amended, provides that prior to the execution of an Annual Contributions Contract the Local Authority shall notify the governing body of the locality of its esti-mate of the annual amount of payments in l-ieu of taxes which will be made for the project and of the amount of taxes which would be levied if the property were privately owned. It has been reported that the last tax payment on the subject Property was approxinately $2r600, the amouut applicable to this unimproved Iand. We wish to advise you that our esti.mate of the annual amount of payment in lieu of taxes i" $21200.00 and Ehe annual amount of taxes which would be levied were the property lrivately owned is $36,000.00. The last amount i-s an estimate on the basis of private ownership and improved Property. Sincerel-y, Clayton F. Fondren Executive Director CFF:md