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Atoka Industrial Development Authority authorized to negotiate redevelopment and evaluate infrastructure with Lighthouse Infrastructure LLC
Summary
After an executive session authorized under Title 25 §307(C)(11), Atoka's Industrial Development Authority authorized its chair and executive director to negotiate a redevelopment agreement to convert historic properties to business/manufacturing use and to enter a letter of cooperative intent with Lighthouse Infrastructure LLC to evaluate city infrastructure for possible development.
The Atoka City Industrial Development Authority met following an executive session and authorized two economic-development actions.
Under authority cited in the meeting (Title 25, §307(C)(11)), trustees held a closed session to discuss confidential economic-development matters. Returning to open session, trustees authorized the chairman and executive director to negotiate a redevelopment agreement to convert historic properties into business and manufacturing uses. Trustees also authorized entering into a letter of cooperative intent with Lighthouse Infrastructure LLC to evaluate city infrastructure for possible development. Both actions were approved by roll-call votes.
Staff noted the approvals were part of routine economic-development negotiation steps; trustees directed staff to proceed with drafting agreement language and next steps for confidential negotiation consistent with state statute.
