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Council authorizes negotiation of up to $8 million incentive for Scheels store after debate
Summary
Council approved a joint resolution to negotiate an incentive package for a proposed Scheels store that could total up to $8 million over 10 years (structured as pay-for-performance with an annual cap). The vote was 8–1 after public criticism about taxpayer giveaways.
The Oklahoma City Council on Aug. 1 authorized city staff to negotiate a possible economic development agreement with Scheels for a proposed large-format Scheels sporting goods store, enabling up to $8 million in incentive payments over 10 years tied to performance metrics.
Kenny Sudel of the Alliance for Economic Development presented the term-sheet-style proposal and said the contract would include pay-for-performance…
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