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Site: 40 Acres. Property Type: Commercial, Industrial, Multi-family. Location: South of Grand, West of US Highway 81, Chickasha, OK. Access/Frontage: 264' on US Highway 81, 475' on Grand Avenue, 73' on 9th. Street, 470' on Park Avenue. Zoning: Commercial, Industrial, Multi-family. Best Use: As Zoned. Flood Plain: Yes, see Flood Maps. Topography: Varies. Deed Restrictions: No Motels, No Banks. Utilities: All Available On-site. |
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A Sales Tax Abatement Agreement with the City of Chickasha and LaForge Properties LLC has been established for this property. This affords a great opportunity for a Developer to recover the infrastructure costs necessary to make the land suitable for development. All of the risk for recovery of development expenses lies with the Developer. As new taxes are generated the Developer shares in the added sales tax revenue by a set formula via the Sales Tax Abatement Agreement with the City of Chickasha. The current sales tax rate for the City and County is a combined 4.5%. The Agreement allows the Developer to recover 1.5% of the taxable sales in the 40 acre boundary. The City and County retain the other 3% of taxable sales. The Sales Tax Abatement Agreement expires after $3,000,000 has been paid to the Developer or in the year 2040, whichever occurs first. At that point, the City and County retain all of the local sales tax money generated by the property. Should you have additional questions regarding this superior land opportunity, please inquire from Steve LaForge at 405-222-3050. | ||||||||||||||
4th.
& Grand (West) -
Chickasha,
Oklahoma, Approx. 40 Acres