New entertainment venue coming to Tulsa?
TULSA, Okla. (KTUL) —
There are plenty of empty parking spaces near the strip mall at 68th & Memorial, and city leaders are hoping to help change that.
"It's going to be the first, it's kind of high-end movie theater with restaurant service, a bar, and upscale bowling," said Tulsa city councilor Anna America.
Cinergy Entertainment Group, Inc. currently has three locations in Texas and may be coming to Tulsa provided the city agrees to offer just over half a million dollars in sales tax rebates over the next ten years. If approved, it would the first time the city has used this specific method of economic development.
"How do you redevelop aging retail areas where maybe they're not as vibrant as they used to be, they're not generating revenue," said America.
According to councilor America, the Cinergy facility is projected to earn significantly more in sales tax than the business currently at the location where it would be located.
"Right now that space is generating about $66,000 in sales tax revenue, expectations for the first year, it'll be over $266,000, so more than $200,000 in additional sales tax revenue," she said.
City leaders are optimistic that this is just the beginning of a new wave of encouraging development.
"I'm pretty excited about it because it shows the city really trying to say, 'How do we use the very limited resources we have and the policies we have but to invent the kind of things that we know we really need?'" she said.