Funding of project may go to voters
9/7/2006
Tulsa County voters are likely to be asked to approve $600 million in public funding for a proposed $788 million Arkansas River project that would create a 12.3-mile lake and three linked islands.
"River development affects 42 miles of Tulsa County. I'm of the opinion the public funding should be a county tax," County Commissioner Randi Miller said.
Tulsa Stakeholders, a nonprofit group of six individuals, unveiled its plan to develop the river on Wednesday.
Tom Cooper, one the Tulsa Stakeholders' principals, said during the presentation that $100 million of the total project amount will be private funds, which will be a gift to the project with none of the investors profiting.
The remaining funds would include $88 million from the sale of energy from renewable energy sources that are proposed for the project, and $600 million would be from public funding.
"The specifics of this financing plan are up for discussion, but the stage is set to make The Channels a reality, to put Tulsa back on the map," he told the crowd.
After the presentation, Cooper said the group doesn't have the $100 million in private funds raised yet, but "we feel confident we can do it."
Miller said she cannot speak for the other commissioners, but if funding is sought from the county, there will likely be discussion about asking voters to reapprove the four-tenths of a cent that had been set aside for Boeing in Vision 2025. Even though there would be more money sought than the $350 million approved in Vision 2025 for Boeing, that extra portion of the sales tax could be extended to cover the needed amount, she said
Anyone who wants to donate to the private funding or participate in the project can contact the Tulsa Stakeholders through its Web site, cf,fgc TulsaChannels.com.
9/7/2006
Tulsa County voters are likely to be asked to approve $600 million in public funding for a proposed $788 million Arkansas River project that would create a 12.3-mile lake and three linked islands.
"River development affects 42 miles of Tulsa County. I'm of the opinion the public funding should be a county tax," County Commissioner Randi Miller said.
Tulsa Stakeholders, a nonprofit group of six individuals, unveiled its plan to develop the river on Wednesday.
Tom Cooper, one the Tulsa Stakeholders' principals, said during the presentation that $100 million of the total project amount will be private funds, which will be a gift to the project with none of the investors profiting.
The remaining funds would include $88 million from the sale of energy from renewable energy sources that are proposed for the project, and $600 million would be from public funding.
"The specifics of this financing plan are up for discussion, but the stage is set to make The Channels a reality, to put Tulsa back on the map," he told the crowd.
After the presentation, Cooper said the group doesn't have the $100 million in private funds raised yet, but "we feel confident we can do it."
Miller said she cannot speak for the other commissioners, but if funding is sought from the county, there will likely be discussion about asking voters to reapprove the four-tenths of a cent that had been set aside for Boeing in Vision 2025. Even though there would be more money sought than the $350 million approved in Vision 2025 for Boeing, that extra portion of the sales tax could be extended to cover the needed amount, she said
Anyone who wants to donate to the private funding or participate in the project can contact the Tulsa Stakeholders through its Web site, cf,fgc TulsaChannels.com.
