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ChatGPTClaudePerplexity· Related development
Council approves second Toot'n Totum TIRZ #2 rebate after board cuts it to 50% for 10 years
Jamal Enterprises, LP asked the TIRZ #2 board for a 90% property tax rebate for 20 years, estimated at $555,426, for a Toot'n Totum convenience store at 1701 S. Eastern St. On August 26, 2021 the board instead voted unanimously for a 50% rebate over 10 years, with a certificate of occupancy due by August 2022. The City Council approved that agreement on its September 14 consent agenda, 4-0.[1][2]
Freda PowellCole StanleyEddy SauerHoward Smith
What the sources say
- ✓ Verified
On August 26, 2021 staff described the request as "a 90% rebate for 20 years ($555,426 estimated incentive)" for a store a Toot'n Totum representative said would be similar to the one on Lakeside, with 25 additional jobs. The chair, a Potter County appointee, said "90% for 20 years is a very high ask and that Jamal Enterprises has received a previous incentive," and that development agreements limit the zone's capacity for other goals. Members asked for consistency and a "step-down" approach. A motion "to provide Jamal Enterprise with a 50% rebate over a ten-year time frame with the Certificate of Occupancy to be received by August 2022" passed unanimously. [1]
- Requested estimate
- $555,426
- ✓ Verified
The September 14, 2021 council consent agenda, moved by Councilmember Sauer and seconded by Councilmember Smith, approved 4-0 (Mayor Pro Tem Powell and Councilmembers Stanley, Sauer and Smith), included a TIRZ #2 developer agreement "for the Jamal Enterprises, LP Toot'n Totum Convenience Store project to be located at 1701 S. Eastern. The agreement is for a 50% annual property tax rebate for ten years. The rebate is contingent upon receiving a certificate of occupancy by August 2022." [2]
- ✓ Verified
Asked on August 26, 2021 when the board would see TIRZ #2 rebate payments begin, the Finance Director said "there were two commitments which will show in the second fully valued tax year after the completion of the hotel and travel center." In July 2022 staff said the only rebate expected for the next fiscal year was the travel center, which was "showing as only partially complete." The Toot'n Totum travel center opened in March 2021; the board minutes give the grand opening as March 16, 2021, after an earlier projection of March 4. [1][3][4][5]
