The Norman City Council is beginning discussions about a tax increment finance district in the northern University North Park area to support a proposed $1 billion entertainment district.
The city of Norman amended both its special meeting and regular meeting agendas Monday evening to add discussion of the entertainment district and the creation of a review committee for the possible TIF district. The agendas were amended just before the city would have been in violation of the Open Meetings Act.
During Tuesday’s regular meeting, City Council will consider adopting a resolution that declares the intent to consider the project and the creation of one or more tax increment districts. The resolution would also create a review committee to be chaired by Mayor Larry Heikkila.
A TIF is used to support the redevelopment, infrastructure and community-improvement projects within a certain area with the intent of stimulating private investment in the area in need of economic revitalization.
5:17 p.m.
Council adjourned to executive session to discuss pending litigation.
5:13 p.m.
Ward 2 Councilmember Lauren Schueler asked Kathryn Walker, city attorney, if a project plan has been created for the review committee to be reviewed.
Walker said no plan has been created or given to the city yet. She explained that more information is needed from OU.
Walker said what is happening in Tuesday’s regular meeting is appointing members of that committee, and the project plan is needed by the second meeting of that committee.
5:10 p.m.
Kathryn Walker, city attorney, said after the review committee makes it recommendations, the city will approve the project plan. Any major changes made to the project plan after that point must be reviewed by the review committee. The oversight committee for the University North Park TIF 2 asked if it could review the project plan.
This TIF would be the fourth in Norman. The first was Campus Corner, the second was University North Park and the third was Center City, which encompasses the downtown Norman area.
5:02 p.m.
Kathryn Walker, city attorney, is explaining how TIFs can be used. She said the University North Park area is considered an enterprise area.
5 p.m.
The special meeting is called to order.
The first item on the agenda is the tax increment financing discussions.
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This story was edited by Peggy Dodd.
