New ARENA as part of entertainment District

[TINY]

The tif district is all that corridor including target, crest, hotels, the main event, doctors offices…. This is not creating a new district just for the stadium project. Technically there was already a plan for that section with condos and more shopping areas, they just updated it to include the stadium.

I thought the TIF district is only referencing the new builds on the open field? Only sales tax generated from this area alone would go toward the debt.

 

[snydrosooner]

I thought the TIF district is only referencing the new builds on the open field? Only sales tax generated from this area alone would go toward the debt.

My understanding is adding to original tif already created. I think that was how they got around going to vote of the people in first place. I definitely could be wrong though.

 

[BoulderSooner]

My understanding is adding to original tif already created. I think that was how they got around going to vote of the people in first place. I definitely could be wrong though.

generally speaking TIF districts don't require a vote of the people ..

 

[BoulderSooner]

My understanding is adding to original tif already created. I think that was how they got around going to vote of the people in first place. I definitely could be wrong though.

https://www.normanok.gov/sites/default/files/documents/2024-08/project_plan_entertainment_district.pdf

the already developed part of UNP is not part of this TIF ..

 

[snydrosooner]

https://www.normanok.gov/sites/default/files/documents/2024-08/project_plan_entertainment_district.pdf

the already developed part of UNP is not part of this TIF ..

Interesting. I just assumed it was part of Same one. You now have a Tif district inside a tif district. Was doing sone research and same location was proposed for the Warren and Costco at one time. Others in Norman as well. Both eventually went to Moore.

 

[aliasou]

Interesting. I just assumed it was part of Same one. You now have a Tif district inside a tif district. Was doing sone research and same location was proposed for the Warren and Costco at one time. Others in Norman as well. Both eventually went to Moore.

This is one of the reasons we need something to spark the area. Growth has been at a snails pace. I dont see how it wouldn't be a net positive for other surrounding areas as well.