MARSHALL COUNTY, Okla. -- It's one of the biggest developments to come to Texoma in years, and it could bring millions of dollars to the economy. Pointe Vista has a multimillion dollar plan to develop the Lake Texoma Lodge, and officials say they want Marshall County to help with area improvements through a tax increment finance (TIF) plan, but not everyone likes the idea.
The plan is fairly simple: zone an area in Marshall County and put that property tax money into a budget for public development.
But some residents and county officials say it's not as simple as it sounds. The TIF plan would take a percentage of money away from Marshall County's main budget and designate those funds for public improvement.
Pointe vista officials want to use some of those TIF funds to improve roads, water, and sewage at the lodge area before construction starts.
Other local communities, like Ardmore, have implemented similar TIF plans. Ardmore city manager Dan Parrott says the plan prevents tax increase and benefits the entire community.
"You can never have enough funding. This is a way to build infrastructure without raising taxes, and it seems accepted in most communities, but is fairly new to Oklahoma."
This plan will have to be approved by county and city officials. Pointe vista officials say whether or not the TIF is approved, they are sticking to their development plans.
But without the TIF money, they may have to limit their project design.