Council allocates $300,000 to Pryor Creek EDTA from former police building sale

The Pryor Creek City Council voted to transfer $300,000 from proceeds of the sale of the former Pryor Police Department building to the Pryor Creek Economic Development Trust Authority (EDTA) to support property acquisition or other incentives to attract businesses into the city.

The mayor introduced the EDTA recommendation and noted the city received $419,320 from the sale; the $300,000 allocation would go to the EDTA main account while the remaining roughly $119,320 would remain in the city's sale-of-surplus account until the council decides how to use it. Anderson, speaking for the EDTA, said having the funds available would allow the city to act quickly when commercial properties come on the market and compared the approach to a previous transfer of residential lots the council had made to the EDTA.

Council discussion emphasized that the allocation would not be restricted to the downtown corridor and could be used anywhere inside city corporate limits. A motion to allocate the funds was moved and approved by roll-call vote.

The council did not specify particular property acquisitions or incentive terms at the meeting; the EDTA was authorized to hold and use the funds consistent with the EDTA trust indenture. The council recorded the transfer as an action to support future economic-development activity. The EDTA will report back to the council with specifics if and when a proposed acquisition or incentive package is identified.