ENID, OK - On Tuesday night, the City Commission approved a sales tax rebate incentive agreement with TLM Realty to bring a clothing store to Enid. The developer is eligible for a 2% sales tax rebate that will not exceed $1 million or 10 years, whichever comes first, to help offset the significant costs to renovate the remaining space in the former K-Mart building located at Garriott and Oakwood. The incentive was recommended by the Enid Regional Development Alliance (ERDA) Board of Directors last week.
TLM Realty is the developer of the former K-Mart building whose current tenants include Tractor Supply and Harbor Freight. The tenant for the remaining 40,000 square feet of vacant space will be a department store that carries a wide range of goods including clothing, shoes, and household goods.
“This retail clothing department store development in the old K-Mart building fills the top retail sales tax gap in the City while completing the redevelopment of the old K-Mart building,” says Mayor Pankonin.
This agreement results from focused team efforts by the City, the Enid Regional Development Alliance, and Rickey Hayes from Retail Attractions to fill retail gaps in the City to increase our sales tax base and offer quality of life to our residents.
