Newspaper article THE JOURNAL RECORD

Coats Slated to Name New Authority Trustee / for Redevelopment

Newspaper article THE JOURNAL RECORD

Coats Slated to Name New Authority Trustee / for Redevelopment

Article excerpt

The proposed new Oklahoma City Redevelopment Authority is expected to be put in motion today by the City Council, with Mayor Andy Coats slated to name the five trustees.

Coats is expected to name the five Oklahoma City Urban Renewal Authority commissioners to administer the new authority, using the Urban Renewal staff, as he suggested last week.

The Urban Renewal commissioners are Jimmie Stewart, Dean Hoye, Stanton L. Young, Durwood Lyon and Dr. K. E. Smith. Horace Huskerson, executive director, is retiring July 1 and named as the new director has been Tiana Douglas.

Huskerson said he has not been contacted about the staff working with the new authority, but he said there would be no problems connected with it.

"Redevelopment has been our business for many years," he observed.

The Oklahoma City Redevelopment Authority area would extend from NW 13th St. and Western Ave., east to the Santa Fe railroad tracks and north to NE 23rd St. From there it would go east to Santa Fe Ave. and then south to SE 29th St., then west to Western Ave. and back north to NW 13th St. and Western Ave.

Officially the area would be declared "blighted" by the council in order to set up the new authority, which is authorized by state law. The authority would work with the private sector in financingremodeling and building in the area. It would be authorized to issue and sell tax exempt revenue bonds for that purpose.

Coats has told the council the time is short to take advantage of the tax exempt bond feature, as Congress is making plans to cut out all tax exempt revenue bonds at the end of 1986.

"This means we have only a year and a half to do this," Coats said.

The redevelopment authority idea was first talked about by developers who have property in the area and have plans for renovation or building, Coats said. …

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