JENKS, Okla. — The City of Jenks is one step closer to landing a new shopping destination after a city council vote on Tuesday.
On Tuesday, the Jenks City Council unanimously voted to approve creating a new 'tax-increment-finance' or 'tif' district to support the project.
'Coal Creek Village Development' will be at the northwest corner of Highway 75 and 121st Street and will bring nearly 40,000 square feet of new retail.
That will mean for the next 25 years, the developer will be able to keep a certain percentage of the sales tax spent at businesses in the tif district to fund necessary infrastructure improvements to get the development started, like road widenings and moving sewers and gas lines around.
Currently, there is no timeline for the beginning of construction and the developer is not revealing any names of any businesses coming to the center yet.