The Enid Regional Development Alliance Board of Directors approved to recommend a sales tax incentive with a retail developer to the Enid City Council. In the agreement with TLM Realty, the developer is eligible for a 2% sales tax rebate that will not exceed $1 million or 10 years, whichever comes first for the securing of a department store. TLM Realty is the developer of the former KMART building whose current tenants include Tractor Supply and Harbor Freight. The ideal tenant for the remaining 40,000 sq. ft. vacant space is a department store that can carry a wide range of goods including clothing, shoes, and household goods.

“One of Enid’s biggest retail gaps is in the clothing and home goods area,” said Lisa Powell, ERDA Executive Director. “With the loss of Dillard’s and JCPenney’s over the past two years, Enid and NW Oklahoma residents need places to purchase men’s, women’s, children’s clothing, shoes and home goods. Our hope is this proposal will help in securing a store that will close this gap.”

TLM Realty is actively pursuing options for the final tenant in the former KMART location. The incentive voted on by the ERDA board is designed to offset costs for the renovation of remaining space. TLM Realty will have until June 30, 2022, to have a signed lease agreement with a department store or the incentive will expire. The incentive agreement will now move to the Enid City Council for consideration.