Agency OK’s Tax-Exempt Financing for Tulsa Apartment Deal
Tulsa World: State OKs $43 million deal for troubled Tulsa apartment complex
BY ZIVA BRANSTETTER World Enterprise Editor
Thursday, January 31, 2013
OKLAHOMA CITY – A state agency approved tax-exempt financing Wednesday as part of a $43 million deal by investors to buy the Fairmont Terrace apartment complex in Tulsa and “make it a safe place for people to live.”
Details of the plan include sweeping security improvements at the federally subsidized apartment complex near 61st Street and Peoria Avenue, as well as a survey of area residents.
“We are very excited. We feel it’s a great opportunity to promote large-scale change in that neighborhood,” said Pete Marrone, a consultant for Midwest Development Partners LLC of Joplin, Mo. Marrone appeared before the Oklahoma Housing Finance Agency, which voted to approve tax credits as part of the deal.