The Norman Transcript

Headlines

December 11, 2013

Norman City Council votes 8-1 for job development measure in North Park TIF district

(Continued)

NORMAN —

The TIF works by setting aside a portion of the sales tax and ad valorem tax generated by the new business coming to Norman in the district to pay for the infrastructure to support that business development.

Once the infrastructure and the park are complete and all debts related to the development are paid off, the full tax amounts will revert to the partnering entities that benefit from those taxes.

In the meantime, a portion of the sales taxes still are going straight into the city's general fund — $2.1 million last year alone — and some property taxes are still going to the schools.

Additionally, all of the Public Safety Sales Tax money is paid to that city fund. No PSST money is diverted to the TIF fund.

Prior to establishing the TIF district, public schools and other entities affected by the tax had to agree to have a portion of those future taxes diverted to pay for the development.

Dozens of restaurants and retail stores have filled the area north of Robinson Street along 24th Avenue Northwest. The Embassy Suites Norman Hotel and Conference Center has brought multiple conferences and conventions to the city, and additional hotels being built near the Embassy Suites will expand the conference opportunities available for Norman, stakeholders said.

On the north end of the development, the NEDC purchased land from the UNP developer — the OU Foundation and its subsidiaries — at below-market prices in an effort to provide incentive tools for attracting employers to Norman who meet the criteria of the Oklahoma Quality Jobs Act, according to city staff notes.

The NEDC has received a grant from the Economic Development Authority to help with the cost of the business park development and infrastructure.

“We believe a bid for the infrastructure should be go out by the end of this year,” City Attorney Jeff Bryant said during discussions of the item during the city council study session Tuesday.

Text Only | Photo Reprints
Headlines
  • Briarwood Elementary Briarwood, Plaza Towers buildings set to open for school year

    MOORE — Briarwood and Plaza Towers elementary students and teachers will no longer be visitors in the hallways and classrooms of their temporary schools this 2014-2015 school year. Displaced and forced to relocate after the May 2013 ...

    August 2, 2014 2 Photos

  • Cooler summer comes after dry spring statewide

    August made a gentle entry this year — no triple-digit temperatures or out-of-control wildfires. Instead, a bright sun slowly cleared the clouds and warmed the day back to summer weather after a few days of what had felt like an early ...

    August 2, 2014

  • Former teacher adores ‘Red Rudy’ Impala

    For some, transportation needs to be more than just a boxy vehicle that takes you from place to place. Former Norman High School Spanish language teacher Kelly Adams is one of those. In addition to her daily driver, a big SUV, she also ...

    August 2, 2014

  • Inmate health costs rising, forcing prisons to scramble for solutions

    OKLAHOMA CITY — Taxpayers forked over nearly $1 million last year to buy inhalers to treat asthma and emphysema among inmates in state prisons. In the meantime, the state also paid for 530,647 inmate prescriptions....

    August 2, 2014

  • Town changed, even with girls’ killer behind bars

    WELEETKA — Folks once settled in this sleepy central Oklahoma town to get away from the crime and hubbub of big-city life. Many residents didn’t bolt their doors or draw their shades at night. Most here never worried about people like ...

    August 2, 2014

  • Teachers from Spain begin arriving in Oklahoma

    TULSA — Teachers recruited from Spain by a Tulsa school district have started to arrive in Oklahoma for the new academic year. The Tulsa World reports (http://bit.ly/1rS1Q2a ) four of the 11 expected educators arrived Thursday in ...

    August 2, 2014

  • Driver killed after container falls on truck named

    OKLAHOMA CITY — Police have identified the person killed after a shipping container was knocked from an Oklahoma National Guard vehicle and landed on a pickup truck....

    August 2, 2014

  • Fire chief in central Oklahoma city resigns

    EDMOND — A fire chief in a central Oklahoma city has submitted his resignation....

    August 2, 2014

  • Judge continues action in sexual assault case

    OKLAHOMA CITY — A judge has found probable cause to continue criminal proceedings against an Oklahoma man accused of sexually assaulting boys and girls in Kenya. Nineteen-year-old Matthew Lane Durham, of Edmond, is accused of sexually ...

    August 2, 2014

  • Trial postponed in Duncan baseball player death

    DUNCAN — The trial for a man charged in the fatal shooting of an Australian baseball player has been postponed until April....

    August 2, 2014