Local & Regional
Tue August 17, 2010
Property Swap Proposed
By Catherine Roberts
Tulsa, Okla. – A proposal for the development of the former Tulsa Fire Department headquarters at Fourth Street and Frankford Avenue met with a mixed response from City Council today.
At this morning's Urban and Economic Development Committee meeting, City Economic Development Director Mike Bunney said the plan would involve trading the property to the Tulsa Opera for development as its new headquarters, in exchange for a piece of land the Opera owns near the airport.
Some councilors took issue with the difference in the two properties' prices; the Opera's land is worth only $275,000, while the TFD property is appraised at $670,000. Councilor Bill Christiansen said that to go through with the deal without first seeing what it would fetch on the market would be "selling the property short."
Councilor Jack Henderson was among those who supported the proposed trade, pointing out that the City so far has found "no nibbles" of interest in the property.
"The idea is that you would use it as a domino," Bunney said, "to kick start development in the area."
The council will address the issue again later, and Bunney said he is confident a compromise will be reached.