New ARENA as part of entertainment District

SoonerBounce13 said:
I wouldn’t be so sure it has public support. I highly doubt it passes the vote
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You have to remember that the council that will vote on the project (hopefully at the 2nd council meeting of July) is not the same council that exists today. Two no votes did not run for re-election in the last election cycle. Their wards were won by two individuals who are for the project. The new council members take office on July 1. So the current split on the council of 6 against the project and 3 for it will reverse to 5 for it and 4 against it. Obviously, efforts will be extensive between now and the council vote to make sure the 5 yes votes do not waffle.
 
deejay1 said:
You have to remember that the council that will vote on the project (hopefully at the 2nd council meeting of July) is not the same council that exists today. Two no votes did not run for re-election in the last election cycle. Their wards were won by two individuals who are for the project. The new council members take office on July 1. So the current split on the council of 6 against the project and 3 for it will reverse to 5 for it and 4 against it. Obviously, efforts will be extensive between now and the council vote to make sure the 5 yes votes do not waffle.
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Yeah we seat the new even Ward council members then! I am in one of the wards with a current council member who voted, to put it up to a vote. I was talking to our council member elect earlier this week. I got the impression they are for the project.
 
Opposition popping up all over Nextdoor neighborhoods with misinformation and on cue, the snarky “OU has enough money” post. I didn’t truncate any names because it is a public forum.
 

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aliasou said:
Opposition popping up all over Nextdoor neighborhoods with misinformation and on cue, the snarky “OU has enough money” post. I didn’t truncate any names because it is a public forum.
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Can’t fix stupid
 
Yeah, I have resigned myself to knowing this won't happen. It was over when they put it up for a vote. The city council didn't want to say yes, so this gives them an out to tell OU off...again. OU will be stuck at LNC for 50 years more.
 
jdizzle34 said:
Yeah, I have resigned myself to knowing this won't happen. It was over when they put it up for a vote. The city council didn't want to say yes, so this gives them an out to tell OU off...again. OU will be stuck at LNC for 50 years more.
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Are you 15 years old? OU
 
BoulderSooner said:
I don't believe this is correct ..

It will be on the council agenda well before that vote .. (now they might continue it over and over but it will be before them)
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this item will first be on the council agenda (introduced) on July 9th ...

it would be scheduled for a final vote 2 weeks later on July 23rd ..

some will try to get in continued ...

listening to the mayor it seems like he will try to push in through
 
BoulderSooner said:
this item will first be on the council agenda (introduced) on July 9th ...

it would be scheduled for a final vote 2 weeks later on July 23rd ..

some will try to get in continued ...

listening to the mayor it seems like he will try to push in through
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Was listening to a scoop podcast and Carey M kept mentioned the city is allocating $600mm in tax rev over 25 years for this TIF? I thought private money was making up the vast majority of the price tag. I have heard so many different things on this that idk what’s what at this point.
 
TINY said:
Was listening to a scoop podcast and Carey M kept mentioned the city is allocating $600mm in tax rev over 25 years for this TIF? I thought private money was making up the vast majority of the price tag. I have heard so many different things on this that idk what’s what at this point.
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the city is giving 0.00 dollars out of any general fund .. or current revenue ..

the TIF is going to pay for 230 mil of the arena (out of the 1 billion dollar development) OU is providing the other 100 mil (25 upfront the rest over the 25 years)

the larger number comes from the interest on the 230 mil the TIF is funding of the arena construction ...
 
BoulderSooner said:
the city is giving 0.00 dollars out of any general fund .. or current revenue ..

the TIF is going to pay for 230 mil of the arena (out of the 1 billion dollar development) OU is providing the other 100 mil (25 upfront the rest over the 25 years)

the larger number comes from the interest on the 230 mil the TIF is funding of the arena construction ...
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Is it fair to say Carey M is wrong? (Would not surprise me)
 
Genuine question as a Norman resident and I get these questions I can’t answer when I encourage my friends to support the project….what happens if the arena has cost overruns…as seems to happen on every project of this size.

Also I read that OU is supposed to be 24% of the dates the arena is used…what acts would fill the other 76%?
 
Soonercuda said:
Genuine question as a Norman resident and I get these questions I can’t answer when I encourage my friends to support the project….what happens if the arena has cost overruns…as seems to happen on every project of this size.

Also I read that OU is supposed to be 24% of the dates the arena is used…what acts would fill the other 76%?
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per the FAQ put out by the city of norman FAQS_62024 all overruns are paid by the the developer

neither the City nor the NTIFA would be obligated tomake up any shortfalls in financing or revenue generation for the project. The financial risk ofrevenue shortages would be on the OU Foundation, the “applicant.” If future incremental taxrevenues exceed projections, then the TIF obligation to the developer would be paid off quicker
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