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Council approves $400,000 bond allocation for Delaware Nation expansion and $2.5M TIF for The Pearl housing renovation
Summary
The council unanimously approved a $400,000 GEO limited tax bond allocation to Delaware Nation Industries to support a 410‑job expansion and a $2.5 million TIF incentive for The Pearl, a $15 million renovation of 132 vacant units. The Pearl project’s affordability expectations drew council discussion about monitoring and carve‑outs.
The Oklahoma City Council unanimously approved two economic development measures on March 10: a strategic investment of up to $400,000 in GEO limited tax bonds to support an expansion by Delaware Nation Industries (DNI) and a $2.5 million request from the Northeast Renaissance TIF for the Pearl housing rehabilitation project.
Kenny Sudel of the Alliance for Economic Development described the DNI proposal as an expansion that would retain and grow a corporate presence in Oklahoma City and result in roughly 410 new W‑2 positions in IT, cybersecurity and engineering. Whitney Hood of…
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