New ARENA as part of entertainment District

[BoulderSooner]

We just can’t have nice things!

this is actually positive for the project to actually happen ..

per the lawsuit the city council didn't follow procedure to set the non binding special election ..

According to the documents, the Norman City Charter requires that all special elections be called by ordinances and, in the June 11 meeting, the City Council called the special election by resolution, did not call the special election on a certain date and failed to follow the procedures of passing an ordinance.

 

[BoulderSooner]

this is actually positive for the project to actually happen ..

per the lawsuit the city council didn't follow procedure to set the non binding special election ..

remember that "non binding vote" passed 5-4 2 of those people are no longer on the council replaced by 2 (seemingly ) pro arena votes ..

if the fake vote is thrown out it won't likely come back ..

 

[colston15]

This is never going to happen in Norman.

 

[CoachTalk]

this is actually positive for the project to actually happen ..

per the lawsuit the city council didn't follow procedure to set the non binding special election ..

Sweet. Read that wrong!

 

[TINY]

This is never going to happen in Norman.

Oh it’s happening

 

[colston15]

Sweet. Read that wrong!

I sure hope so, but history suggests otherwise.

 

[Soonerguy06]

IF it happens when would it be completed??

 

[BoulderSooner]

IF it happens when would it be completed??

break ground as soon as next year ..

potential to open in the 27-28 season ..

 

[BoulderSooner]

this is actually positive for the project to actually happen ..

per the lawsuit the city council didn't follow procedure to set the non binding special election ..

and boom

 

[Soonercuda]

https://www.normantranscript.com/news/judge-nixes-aug-27-tif-vote/article_07d38574-3fc3-11ef-8c64-eff364742487.html

 

[TINY]

Anyone know what the terms are for the additional $370 million in TIF? I was thinking the tif was only going to be $230 total. I will say that seems a little excessive.

 

[BoulderSooner]

Anyone know what the terms are for the additional $370 million in TIF? I was thinking the tif was only going to be $230 total. I will say that seems a little excessive.

the arena cost is 330 mil 230 from the TIF and 100 from OU/developers

but the 230 from the city is going to be a loan paid back by the 25 year TIF and with interest that = the 600 mil ..

 

[TINY]

the arena cost is 330 mil 230 from the TIF and 100 from OU/developers

but the 230 from the city is going to be a loan paid back by the 25 year TIF and with interest that = the 600 mil ..

Thanks @BoulderSooner

I thought the developer investment was a lot more than that? I guess I can understand more of the concerns if that’s the case.

 

[sooner333]

Thanks @BoulderSooner

I thought the developer investment was a lot more than that? I guess I can understand more of the concerns if that’s the case.

I think the entire developer share is much larger, but goes to developing the entertainment district and residential that is going into the TIF area.

 

[BoulderSooner]

Thanks @BoulderSooner

I thought the developer investment was a lot more than that? I guess I can understand more of the concerns if that’s the case.

the entire development is close to 1 billion

 

[TINY]

the entire development is close to 1 billion

Thanks @BoulderSooner and @sooner333

There is so much misinfo on Facebook and around town. This is a no brainer for the city

 

[Soonerguy06]

so all in all is it happening, or still yet to be determined? that's a long article lol

 

[NickZepp]

Still yet to be determined. But it's going in a positive direction I guess.

 

[slappy in OP]

Is there a defined date that a decision has to be made on this project? From afar, this feels like it is being delayed for several reasons and never going to be officially decided on. I empathize with some of the arguments on both sides, but ultimately feel like this would be a win for the city (and OU).

 

[NickZepp]

Probably not soon. May still be months or a year before anything is decided.

https://archive.is/Dr0C5#selection-2543.0-2550.0