Sorry, I couldn't resist.
Taft just benefitted from the federal reclassification of a "navagable waterway" called sand creek. (It is really just a dry riverbed about the size of a canal.) If the state also changes it's status I hear it could open up quite a bit of development opportunity. I attached a link to a news article but calling someone at the city would be a better source.
Be aware that some of taft is unicorporated (i think it's called ford city by the locals) and that taft used to completely flood with crude oil. I would have an expert look into what must be done to build on land that may be contaminated because pretty much all of Taft is/was at one point. Taft recieved little or no new housing in the boom and I think that the environmental concerns may have played a part in that, but I'm not sure.