Claremore opens IRS-required hearing and approves paperwork for $3.5M oncology clinic financing

The Claremore City Council opened a public hearing required under federal tax rules for tax-exempt bond financing tied to an oncology and cancer treatment project in the Physician's Building just north of the hospital and approved a resolution documenting that hearing so the financing party can comply with IRS requirements.

The City Manager (unnamed in the transcript) explained the situation to the council, saying a public finance group out of Wisconsin is issuing revenue bonds to build multiple oncology treatment centers and that one such project will be located in Claremore. The manager told the council, "We are not issuing the bonding. We have no payment for the bonding. We are simply a venue that allows them to conduct a public hearing because they're spending dollars in our jurisdiction." The manager also said the local portion is about $3.5 million for that site.

The manager and staff emphasized that the city is not the bond issuer and will not be on the hook for repayment; the public hearing is required to comply with IRS procedural rules when financing will benefit projects located in the city. Council opened the hearing, solicited public comment and recorded that no members of the public spoke.

Following the hearing the council considered Resolution 2025-16, which documents the hearing and allows necessary compliance paperwork to be completed. The council moved and seconded the resolution and the clerk recorded roll-call votes in favor; the motion carried. No amendments or conditions were attached to the resolution during the meeting.

Council action was limited to the administrative steps required by the financing party. Staff said the parties will proceed with their paperwork and the city’s role is limited to providing the public hearing forum and the required certification of that hearing.