Norman would not be Norman without the University of Oklahoma. It is a symbiotic relationship that both for sure benefit from.
an 80/20 split what are you talking about .... last year the arena was 100% funding with the tif dollars .. now it is only less then 70% funded with tif dollars .. an improvement ..
the city is not the one building this .. and it is not taking local resources .. no matter how many time you say it is
Ok, stupid question, but I'm going to ask it anyways:
The plot of land on Lloyd Noble is massive, as it is. Why wouldn't they build the new arena to the west of the old arena, tear down the old arena and redevelop the whole site into what they are proposing now?
I assume it has to do more with distance to the city to get people to come to the games?
A. not close to the mass of people to support retail at that location ..
b. majority of season ticket holders are from the metro north of norman .. new location makes it easier to get to and from games .. and the before after food/drink/shopping is just a bonus ..
c. OU needed the city of norman on board for this and the UNP location (also owned by OU foundation ) made more sense for that.
https://www.oudaily.com/news/norman-...46cdc81fdf.htm
{LOL} Migliorino, who was part of the review committee, wrote on May 23 that, while he voted to pass the project to the city council for further review, his vote didn’t represent the school board’s approval of the project in a statement released after the meeting.
Pretty sure he is referring to the LNC site
Its not spin. There is a huge amount of land in this TIF district, and a good portion of it would continue to organically develop without an arena. But if this passes, the ad valorem and sales taxes that would come from the "organic" development will now pay for this arena instead of going to schools, public health and safety, city coffers. All the sales taxes city of Norman gets now at Lloyd Noble concessions will go away if this passes. That is a direct reduction in revenues.
Just look at how UNP has already developed, dozens of retailers and restaurants that has happened without an arena. All the financial positives of future UNP development for city of Norman would be taken to pay for an arena that OU simply cant or doesnt want to pay for themselves. A small-ish arena mostly for college basketball isnt a firestarter for lots of development no matter what kind of big projected numbers you put into a presentation.
It's hard to understand the strong backlash against this TIF where OKC has given away billions (yes, with a 'b') with much more to come, and nobody seems bothered in the least.
Doesn't TIF only apply if something is built?
Last I checked, no one has tried developing any of this land since *checks notes* 2018, when OU last tried to put an arena there.
True, but they are mostly made up of dozens of small projects. Was Devon towner and project 180 a TIF? Outside of that, nothing in OKC has come close to the size of this norman arena TIF.
OU officials couldnt even answer basic questions of how much the university is paying towards it and who will even own the arena at yesterdays press conference.
To be fair, OU owns it (through the foundation) so there is no reason to sell unless they want. And they clearly want it for an arena.
I think people don't understand TIF districts. Hell half the comments on social media are "They should spend the money on Main Street". Main street in Norman is already a TIF district, lol.
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