University Town Center

[Jersey Boss]

this is not what was said in Sept ..

80% of the entire plans 1 billion dollar cost would be privately funded ..




https://www.oudaily.com/news/1-billi...95498c17f.html

That was September. This is 2 months later.
https://www.oudaily.com/news/enterta...9d8b160a2.html
A staff report posted as part of the agenda for Tuesday evening read:

“Under the proposal, a combination of University and private resources would combine to fund approximately 40% of the total arena construction costs, while the University would only use approximately 25% of the event dates. Team Norman has asked the City to consider funding the remainder of the construction costs as well as some additional infrastructure utilizing tax increment financing.”



If this arena is constructed it would be the smallest seat wise in the SEC. This is what Norman is being asked to fund?

[BoulderSooner]

That was September. This is 2 months later.
https://www.oudaily.com/news/enterta...9d8b160a2.html
A staff report posted as part of the agenda for Tuesday evening read:

“Under the proposal, a combination of University and private resources would combine to fund approximately 40% of the total arena construction costs, while the University would only use approximately 25% of the event dates. Team Norman has asked the City to consider funding the remainder of the construction costs as well as some additional infrastructure utilizing tax increment financing.”



If this arena is constructed it would be the smallest seat wise in the SEC. This is what Norman is being asked to fund?

nothing changed

[chssooner]

nothing changed

How did nothing change? Unless they were being intentionally vague with the costs of each element in the September meeting, and 80% of the total cost, while correct, is broken out amongst multiple items?

[jedicurt]

How did nothing change? Unless they were being intentionally vague with the costs of each element in the September meeting, and 80% of the total cost, while correct, is broken out amongst multiple items?

i mean i think they purposefully left it vague before... i think they are going to hit the 80% of the total overall development being university and private, but the arena is a big sunk cost that they won't be able to recoop the private investment on as quickly, so they are offing that more to the city.... so i wouldn't say bait and switch, but a purposeful misdirection to try and make it sound good to the citizens

[chssooner]

i mean i think they purposefully left it vague before... i think they are going to hit the 80% of the total overall development being university and private, but the arena is a big sunk cost that they won't be able to recoop the private investment on as quickly, so they are offing that more to the city.... so i wouldn't say bait and switch, but a purposeful misdirection to try and make it sound good to the citizens

Ironically, if 40% private was being thrown around for the new OKC arena, this board wouldn’t have anything to complain about.

[mugofbeer]

Ironically, if 40% private was being thrown around for the new OKC arena, this board wouldn’t have anything to complain about.

Oh, they'd find something.......

[onthestrip]

i mean i think they purposefully left it vague before... i think they are going to hit the 80% of the total overall development being university and private, but the arena is a big sunk cost that they won't be able to recoop the private investment on as quickly, so they are offing that more to the city.... so i wouldn't say bait and switch, but a purposeful misdirection to try and make it sound good to the citizens

You are right. They added in a bunch of private ancillary development to make the non public cost percentages look better, even though there are no specifics, no timetables and no guarantees of the surrounding developments.

[Jersey Boss]

You are right. They added in a bunch of private ancillary development to make the non public cost percentages look better, even though there are no specifics, no timetables and no guarantees of the surrounding developments.

This is exactly the point OU professor DR. Cynthia Rogers made when it was announced in Sept
Read this fact based and the evidence on why this is a bad deal for Norman.
Remember all the promises made to get UNP that never materialized, such as the lifestyle center.

https://www.normantranscript.com/opi...b819eab87.html

[BoulderSooner]

How did nothing change? Unless they were being intentionally vague with the costs of each element in the September meeting, and 80% of the total cost, while correct, is broken out amongst multiple items?

it was allays presented as 80% private dollars of the total development ..

80% of the plan's $1 billion cost will be covered through private funds

i am suprised that the city only has to pay 60% or the arena costs .. i thought it would be more ..

[Plutonic Panda]

it was allays presented as 80% private dollars of the total development ..

i am suprised that the city only has to pay 60% or the arena costs .. i thought it would be more ..

That still sucks we’ll have the seat count if true like really