LCPWA disburses funds from completed TIF project

In a special meeting on Tuesday afternoon, the Logan County Public Works Authority agreed to distribute the remaining funds from the Eastside
Commercial Increment District.

In Feb. 2016, the LCPWA agreed to a $150,000 tax increment financing (TIF) with Love’s Travel Stop, a similar approach the City of Guthrie agreed too in assistance with a public sanitary sewer system east of Interstate 35.

Love’s funded the construction (approximately $450,000) and extended the sewer line from their store’s location on the west side of I-35 to the new facility on the east side. In return, the City and County provided funding for a portion of the infrastructure extension.

The $150,000 non-interest note was scheduled to mature in three years, but was expedited by the tax base and was paid off early.

In total, the LCPWA distributed back $38,662.21 to the entities within the TIF district, including Logan County, Logan County Health Department, Guthrie EMS, Meridian Vo-Tech and Guthrie Public Schools.

Breakdown of disbursed amounts:

Logan County — $4,378.95
Logan County Health Department — $1,094.53
Guthrie EMS — $1,312.58
Meridian Vo-Tech — $6,573.04
Guthrie Public Schools — $25,302.87