STILLWATER, Okla. -- The city of Stillwater is in negotiations with an "established cinema company" for a multiscreen movie theater which would be located downtown.
The $20 million project, if approved and developed, is expected to produce approximately $237,000 in new property tax per year.
“There is a lot of competition for this kind of development,” Mayor Will Joyce said. “The passage of the Stillwater (Re)Investment Plan last month was an important tool in the negotiations with this company. The Plan tells developers that the community is interested and committed to investing in itself. In addition, the commitment of the community to incentivize specific development or help offset infrastructure costs demonstrates that that our leadership is working together to accomplish Stillwater’s goals.
The location of the project requires that it be reviewed by a Citizen Review Committee before it goes to city council for a vote.
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