Councilmembers at their regular Tuesday meeting unanimously approved a revised amendment to the University North Park Tax Increment Financing project plan from the UNP TIF's statutory committee, and recommendations including language providing that any reallocation of funds first be reviewed and approved by the statutory TIF committee.
The statutory committee is comprised of representatives of ad valorem taxing entities including the school system, library and other concerns.
The amendment came forward when hotelier John Q. Hammons offered to release the City from its agreement to purchase the newly constructed conference center for $15 million with a $1.5 million contingency, with Hammons urging instead that the City use $7.75 million of the funds to help construct the Rock Creek Road overpass that would connect 24th Avenue NW and 36th Avenue NW over Interstate 35.
Councilmembers debated about what should happen to the leftover $8.75 million. Some believed the entire amount should stay in the TIF, with others wanting to take the entire amount off the table. But the statutory committee, which approves any amendment that's deemed "major," decided that construction overruns could cause the development not to perform as well as expected from an ad valorem standpoint. They voted to recommend that the entire $8.75 million stay in the TIF project plan for future costs.
Former Mayor Harold Haralson, chair of the statutory committee, described the evolution of the TIF, from the OU Foundation's original $46 million proposal to its present $54 million package.
The $8 million difference could be considered "a line of credit," Haralson said.
The money is available, but will not accrue interest until spent, he said. "If we don't use it, it expires at the end of the term."
Councilmember Bob Thompson disagreed with the analogy, saying: "It's an interception of money we're using to fund private development."
Mike Bergey, president of the Norman Chamber of Commerce, spoke in support of the statutory TIF committee recommendations, saying leftover money should be retained due to rising inflation and materials costs.
Sylvia Martin called it a mistake to leave $8.75 million unassigned, and said it would be "logical to take it off the table," reducing the $54 million plan.
"On or off the table, it's been a discussion monster," she said.
Martin warned the council about supporting a proposed Lifestyle Center, asking them to heed a recent report that such developments are running into problems. "Will $8 million be spent on an area with a questionable future?" she asked.
"There's no such thing as free money," said Norman resident Dave Thomas. "The money is coming from the taxpayers of the City of Norman."
Thomas criticized the TIF project, saying "the west side has gotten all the development, all the money." Thomas suggested the project was tainted by corruption from the beginning, saying the "decisions had already been made, the votes already counted."
"I object when citizens come up here and tell us we're corrupt without any basis," replied Councilmember Doug Cubberley. "I don't know anyone who didn't work in good faith for the City of Norman."
The TIF project created feelings on both sides of the issue, Cubberley said.
"It's clear (the statutory committee) agrees with the process of us coming back to them seeking advice. Part of the money is theirs. They have a stake in the project ... It's incumbent upon us to listen to our partners," he said.
Mayor Cindy Rosenthal expressed appreciation to the statutory committee for establishing "a pattern based on collaboration and consultation."
Councilmembers Carol Price Dillingham and Dan Quinn were absent from Tuesday's meeting.
Tom Blakey 366-3540 tblakey@normantranscript.com
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City Council approves TIF amendment
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