Norman takes second shot at OU entertainment district: What to know

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A team of Norman leaders on Wednesday presented a plan to build a $1 billion district north of University North Park.

NORMAN — A coalition of Norman civic, business and education leaders announced they are committed to launching a $1 billion district that will include a new arena for University of Oklahoma athletics, a hotel, offices, shops, restaurants, bars, entertainment and housing “for thousands.” 

The coalition, dubbed “Team Norman,” pledged the development will not tap into city or county general funds or require a tax increase. Their presentation indicated 80% of the $1 billion will be privately funded, with the remaining 20% to be publicly funded. 

In an interview with The Oklahoman, Norman Mayor Larry Heikkila said the use of tax increment financing and potentially revenue bonds will be used as part of the 20% public funding.  

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