OG&E Energy Center

[Laramie]

What you see is what you get...

If it's

1. 400 feet or higher, it a skyscraper:
Devon Energy Center 844, Cotter Ranch Tower (Chase Bank) 500, First National Center 492, City Place Tower 440, Oklahoma Tower 434,


2. 300-399 feet it is a high-rise tower:

_____________________________________

SandRidge Center & Commons 393, Valliance Bank Tower 391, Bank of Oklahoma Plaza 310, AT&T Building 310, One Leadership Square 308,

3. 250-299 feet it is a mid-rise tower:

Regency Tower 288, The Classen 287, Founders Tower 275, OCU Gold Star Memorial Library 264, Continental Center 262, Oklahoma State Capitol 255, Union Plaza 252

[soondoc]

Yep, these buildings should look great once you get within a mile or two from downtown but once you get any distance out, forget about it. Nice buildings though that will look great from up close.

[Rover]

What you see is what you get...

If it's

1. 400 feet or higher, it a skyscraper:
Devon Energy Center 844, Cotter Ranch Tower (Chase Bank) 500, First National Center 492, City Place Tower 440, Oklahoma Tower 434,


2. 300-399 feet it is a high-rise tower:

_____________________________________

SandRidge Center & Commons 393, Valliance Bank Tower 391, Bank of Oklahoma Plaza 310, AT&T Building 310, One Leadership Square 308,

3. 250-299 feet it is a mid-rise tower:

Regency Tower 288, The Classen 287, Founders Tower 275, OCU Gold Star Memorial Library 264, Continental Center 262, Oklahoma State Capitol 255, Union Plaza 252

According to IBC (International Building Code), anything over 75 feet is a High Rise. Others references list 33 meters or about 100 ft.
High-Rise Buildings - The Code Corner

[bchris02]

Yep, these buildings should look great once you get within a mile or two from downtown but once you get any distance out, forget about it. Nice buildings though that will look great from up close.

I can see Chase Tower, Sandridge Tower, and First National all the way from Memorial Rd. That is 10 miles.

[boitoirich]

This incentive game has to be a balancing act. I agree that there needs to be some kind of comparison with peer cities so that we're only approving public assistance where they are most impactful. This might very well be one of those cases, but even then we would not want to give away the farm.

[Pete]

Cathy O'Connor did say they want to move more towards loans rather than out-right grants.

Sounds like a good intermediate step.

[Spartan]

What have they given grants to? Surely that's not how they spent the TIF money??

[LakeEffect]

What have they given grants to? Surely that's not how they spent the TIF money??

TIF money has to be spent on physical improvements - so you might consider some of it a "grant"... parking garage, utilities work, street work, etc. I don't recall many grants either, but I do recall a lot of low interest loans...

[Pete]

What have they given grants to? Surely that's not how they spent the TIF money??

By grant I just meant giving money (without any requirement to repay) rather than loaning it.

And by this definition, all TIF awards are grants.

But they also provide grants in many other forms, like job creation funds, forgiveness on paying certain taxes, etc.

[OkieNate]

Tomorrow is the rescheduled big day right?!?

[Pete]

The next OCURA meeting is scheduled for Dec. 17th.

[GoThunder]

The next OCURA meeting is scheduled for Dec. 17th.

Wasn't something supposed to happen on the 19th?

[OkieNate]

So the November 19th OCURA meeting was canceled? Is there anything to be concerned with that Clayco might not get the south or just be patient half a billion dollar projects take time and can not be rushed?

[Pete]

OCURA only meets once a month.

They met on Nov. 4th and will meet again on Dec. 17th.

I'm not sure what you guys are talking about for the 19th.

[OkieNate]

OCURA only meets once a month.

They met on Nov. 4th and will meet again on Dec. 17th.

I'm not sure what you guys are talking about for the 19th.

The landscape is slated to change more, with OGE Energy Corp. building a new headquarters tower at the southwest corner of Sheridan and Hudson avenues. The 3.15 acres to the south will be redeveloped as well, but the exact plan for that site won’t be decided until the Nov. 19 OCURA meeting. The authority owns nearly the entire plot and requested qualified proposals for the site. The committee could have made a decision on the bids Tuesday, but chose to wait.


She probably meant December . Thats from Molly Flemming of the Journal Record.

[Pete]

Month and date wrong?

Very strange. The OCURA meeting schedule is set at the beginning of every year.

[G.Walker]

I thought Nov. 19 was to be considered as a 'special meeting', since a decision was not made on Nov. 4. It is my understanding the OCURA can set a 'special meeting' for anytime they see fit?

[catch22]

I also thought that the 19th had some significance. Like they decided to allow for a few weeks to evaluate the proposals before deciding.

[Pete]

I thought Nov. 19 was to be considered as a 'special meeting', since a decision was not made on Nov. 4. It is my understanding the OCURA can set a 'special meeting' for anytime they see fit?

Any public body can call a special meeting but they have to provide notice and post an agenda in advance and they've done neither.


And in general, I didn't get the impression they only needed a couple of weeks to make a decision. Cathy O'Connor said serious negotiations were needed regarding the public assistance requests on the part of both applicants.

[Spartan]

By grant I just meant giving money (without any requirement to repay) rather than loaning it.

And by this definition, all TIF awards are grants.

But they also provide grants in many other forms, like job creation funds, forgiveness on paying certain taxes, etc.

But it goes toward on-site public realm improvements, right?

[Pete]

But it goes toward on-site public realm improvements, right?

No. It goes for the overall development.

As in the case of Clayco, they already have a plan and just want the City to provide incentives for 10-15% of their costs.

[RodH]

A meeting and agenda has been posted on the OCURA website for Monday.

SPECIAL MEETING OF
OKLAHOMA CITY URBAN RENEWAL AUTHORITY
MONDAY, NOVEMBER 24, 2014
105 NORTH HUDSON AVENUE, SUITE 101
10:00 A.M.

[HOT ROD]

hehe

[Pete]

This is from the agenda item for Monday's special Meeting of the OKC Urban Renewal Authority, where they hope to choose one of these two proposals.

Selecting a developer will not obligate the City to their terms, but it will open the final negotiations with that particular developer. If they can't come to terms, they could go back to the other party or reissue the RFP and start all over again, or choose not to sell.

Both Milhaus and Clayco have requested tax increment financing to assist with the development of the project. Both TIF requests related to the proposals would require the creation of a new TIF district. Milhaus has requested a TIF allocation that would equal approximately 96% of the total ad valorem taxes generated by their development. Clayco has requested a TIF allocation equal to approximately 89% of the ad valorem taxes generated on their proposed project. Both of these requests are significantly higher than what the City customarily allocates to projects. Therefore, significant negotiations will be necessary before the financial structure and feasibility of these projects are determined.

Development of the property included in the RFP will have a significant impact on downtown. It will be critical that these buildings are designed and constructed in a way that meets or exceeds the City’s design requirements. The RFP included the City’s design guidelines and the expectations of the Downtown Development Framework. These design issues require further review and discussion and may result in a recommendation to change certain aspects of the project. It is recommended that the board designate a conditional redeveloper to further examine the design and financial issues associated with the project.

[Of Sound Mind]

So the bigger investment is asking for roughly half of the public support, percentage-wise, than the much smaller investment is asking, 13.7% and 26%, respectively.