The Norman Transcript

Government

December 3, 2013

Proposed Corporate Center in TIF would have industrial complex

NORMAN — The economic development component of the University North Park TIF is coming to fruition. City Attorney Jeff Bryant updated the Norman City Council on the status of the TIF on Tuesday.

With the previous focus on the retail portion of the development along 24th Avenue Northwest, the proposed Corporate Center on the TIF’s north end has been an occasional side note in ongoing discussions.

The Corporate Center will encompass a business park and industrial complex on 60 acres with easy access to the nearby Max Westheimer Airpark.

The Corporate Center has not been a side note to the Norman Economic Development Coalition, as Executive Director Don Wood, his staff and the NEDC board have worked to move forward with development plans and to court potential business clients.

The NEDC purchased 30 acres within the northern section of the TIF district and is purchasing an additional 31.67 acres. That deal is expected to close this week, possibly today.

Shortly thereafter, the city council, operating as the Norman Tax Increment Finance Authority, will consider a resolution to allow for an infrastructure loan to build internal roadways to connect industrial and business park sites, as well as sewer, water and drainage improvements.

The estimated infrastructure cost for these improvements rings up at $6,285,000, but repayment sources within the first year include an Economic Development Authority grant for $2.5 million, an industrial access grant for about $350,000 and first user lot sale proceeds totaling about $1.1 million, according to city staff notes.

Having infrastructure in place will be key to enhancing the marketability of the site. Currently, NEDC has one tenant lined up and should close on that deal by the end of the year. Those negotiations are expected to come to completion this week. The tenant, so far undisclosed in accordance with confidentiality agreements, is described as a business that would bring quality jobs to Norman.

Text Only | Photo Reprints
Government
  • Oklahoma Water Resources Board grants Norman low-interest loan for facility upgrade

    Norman has been authorized for a $50.3 million loan from the Oklahoma Water Resources Board to fund Phase 2 of the Norman Water Reclamation Facility upgrade. “It’s the single largest loan OWRB has made,” Norman Mayor Cindy Rosenthal said. ...

    April 17, 2014

  • General fund continues to decline as expenses exceed anticipated revenues

    Norman’s expenses will again outstrip projected revenue in the current budget before the city council. The budget for the fiscal year that starts in July and ends June 30, 2015, projects $210,982,020 in total revenues and $213,436,778 in ...

    April 16, 2014

  • County hears presentation on employment opportunities

    The Cleveland County Board of Commissioners listened to a presentation Monday to consider partnering with a nonprofit that provides employment opportunities for prison inmates re-entering the community. Patrick Viklund, Center for ...

    April 15, 2014

  • Drilling operation shows policy gap

    While Norman residents are being encouraged to use rain barrels, a Texas oil and gas company is pumping thousands of gallons of treated drinking water into the ground. The Oklahoma Corporation Commission controls permits for drilling, ...

    April 12, 2014

  • Filings finished

    In addition to Ward 2 Norman City Council candidates Clint Williams and Aliesha Karjala several federal, state and county officials will be on the June 24 ballots. Filing for offices that serve Cleveland County residents are: · ...

    April 12, 2014

  • Fracking review online

    The Oklahoma Hydraulic Fracturing State Review is available on the Corporation Commission’s website, occeweb.com. Completed in 2011 by a non-profit, multi-stakeholder organization, State Review of Oil and Natural Gas Environmental ...

    April 12, 2014

  • Candidates file for state and federal positions Thursday

    New filings on Thursday include: ; ...

    April 11, 2014

  • City briefs

    Egg hunt today  Norman’s Easter Egg Hunt will be today at Andrews Park. Activities — including moon bounces, games, giveaways and Easter Bunny photos (bring your own camera) — will start at 5:30 p.m....

    April 11, 2014

  • Norman residents among those seeking to run for county, state offices in first day of filing

    Filing for county and state offices started Wednesday and continues from 8 a.m. to 5 p.m. today and Friday. A handful of Democrats and a trickle of Independents vye with a field heavy-laden with Republican candidates. There are few ...

    April 10, 2014

  • Fallin seeks aid for businesses affected by closure of memorial bridge

    Purcell business owner Greg Lucy wrote to the governor this week. Lucy owns Purcell Farm and Ranch Supply, a business that depends heavily on trade from Lexington and surrounding areas. The recent closure of the James C. Nance Memorial ...

    April 10, 2014