Yukon City Council Approves Frisco Road TIF Plan

In front of a full house of Yukon residents, the City Council adopted by a unanimous vote Ordinance NO. 1297 that approved the Frisco Road Development Project Plan and then creates Yukon’s first retail TIF District. Commonly referred to as the I-40 retail development corridor, the newly established project area and increment district will provide the public support and financial assistance needed to construct an interchange at I-40 and Frisco Road. The new interchange is viewed as being essential for several reasons, including: stimulating private investment, enhancing the City’s tax base, addressing traffic congestion issues, creating new jobs, and improving the quality of life for Yukon residents.

During the public hearing, Clint Pierson, representing I-40 Properties, LLC, provided the City Council with a brief overview of the development company’s interest in purchasing 170 acres located south of I-40 and west of the Integris Regional Hospital. Mr. Pierson stated that the proposed Frisco Road/I-40 Interchange and the creation of the retail TIF District was necessary for the destination retail center his company desires to build. Mr. Pierson concluded his remarks by stating that his firm had reached a tentative agreement with Crest Foods for a building site in Phase I of the Prairie West Town Center. The next step for I-40 Properties, LLC will focus on coordinating Phase I of the development with the City’s schedule for constructing the Health Center Parkway street extension.

The adopted Frisco Road Economic Development Project Plan will be funded with a portion of the City’s sales tax, use tax, and hotel occupancy tax revenue collected within the boundaries of the increment district. The proposed commercial development is projected to generate annual revenues sufficient to fund the required public infrastructure including the extension of Health Center Parkway and the City’s local share of the Frisco Road/I-40 Interchange.

The TIF District will also produce new sales tax revenue for the City of Yukon and Canadian County. In addition, the commercial improvements will increase property tax collections for the Yukon Public Schools.

The Frisco Road Economic Development Project Plan is one of Yukon’s best future development projects. Optimism, energy and opportunity inspire the best in everything we do. To learn more about Yukon’s best, visit Welcome - City of Yukon or call 405-350-4700.