Court judgment confirms Duncan foundation owns property

DUNCAN — The Duncan Area Economic Development Foundation (DAEDF) announced Thursday it had received a favorable summary judgment from the Stephens County District Court in a case concerning the ownership of certain properties within the City of Duncan.

The ruling, issued Thursday, affirmed DAEDF’s ownership of properties purchased using funds provided through contracts for services with the City of Duncan and the Duncan Economic Development Trust Authority.

Officials said the case centered around a series of contracts for services between DAEDF and the City of Duncan and Trust Authority, dating back to 2003. These agreements outlined the provision of economic development services by DAEDF, with funding provided by the city and trust from dedicated sales tax proceeds. Officials said the court’s judgment clarifies the legal status of funds disbursed to DAEDF under these contracts and, consequently, the ownership of properties acquired by DAEDF.

Key aspects of the court’s ruling include:

• Validation of Contracts: The court upheld the validity and enforceability of the contracts for services between DAEDF and the trust authority.

• Ownership of Properties: The court declared that real estate purchased by DAEDF using funds paid by the city or trust authority under the contracts for services, and held in DAEDF’s name, is owned by DAEDF. This includes the Haulmark property and the 48 acres specifically addressed in the litigation, officials said.

• Non-Public Funds: The court determined that funds appropriated and disbursed by the city or trust to DAEDF for services rendered under the contracts for services ceased to be public funds upon disbursement. This clarifies the status of the funds used to purchase the properties in question, officials said.

• DAEDF Ownership of Other Properties: The court also confirmed DAEDF’s ownership of the four properties (3.59 acres, 4.88 acres, 1.91 acres, and 6.7 acres) which were purchased with funds other than sales tax proceeds from the city or trust.

• Rejection of Counterclaims: The court denied the defendants’ cross motion for partial summary judgment, effectively rejecting their claims to ownership of the properties, DAEDF officials said.

“We are very pleased with the court’s decision,” said DAEDF Board Chairman Bill Gossett. “This ruling confirms what we have maintained all along: that the properties in question were legally and properly acquired by DAEDF in accordance with our agreements with the city and the trust. This decision allows us to move forward with our mission of promoting economic development in the Duncan area without any ambiguity regarding the ownership of our assets. We are committed to working with the City of Duncan to foster continued economic growth in our community.”

Duncan Area Economic Development Foundation members say they remain committed to their mission of fostering economic growth and opportunity in the Duncan community. This legal resolution allows the organization to continue its work with clarity and confidence, officials said.

The Duncan Area Economic Development Foundation is a non-profit corporation dedicated to promoting economic growth and development in the Duncan area. Information is available at www.ok-duncan.com