Okla. Admin. Code § 150:105-1-4

Current through Vol. 42, No. 7, December 16, 2024

Section 150:105-1-4 - Threshold and selection criteria

Complete threshold requirements and selection criteria will be set forth in the application guide. The minimum threshold criteria are as follows:

(1) Project must be located entirely within an enterprise zone or in support of a major tourism destination which the local governmental entity determines is likely to significantly benefit contiguous or nearby enterprise zone census tracts;

(2) No more than fifty percent (50%) of the net leasable space of such development may be used for retail purposes except as otherwise provided within the statute and no state local government matching payment shall be made for project costs in support of any gambling establishment;

(3) State local government matching payments cannot be used to supplant local revenue currently being expended within the increment district boundaries;

(4) Certification that all projects described within the related project plan will generate, in the aggregate, a minimum of either One Million Dollars ($1,000,000.00) in payroll, exclusive of payroll for construction, or Five Million Dollars ($5,000,000.00) in investment;

(5) The application must include an estimate of incremental revenues new to the state likely to be derived from the project;

(6) The project must include the commitment of local governmental entity; and

(7) The project meets the time deadlines set forth in 62 O.S. § 842(I).

(8) If the project is in support of a major tourism destination, the application must meet the requirements set forth at 62 O.S. § 842 (B)(3) and (B)(4).

(9) If the project is a Military growth impact project, the application must meet the requirements set forth at 62 O.S. §§ 841(13), (14), and (15).

(10) The project is required to be fiscally neutral to the State.

Okla. Admin. Code § 150:105-1-4

Added at 22 Ok Reg 1054, eff 5-26-05; Amended at 26 Ok Reg 87, eff 10-17-08 (emergency); Amended at 26 Ok Reg 1013, eff 5-12-09; Amended at 28 Ok Reg 635, eff 5-12-11

Amended by Oklahoma Register, Volume 39, Issue 24, September 1, 2022, eff. 9/11/2022