OKANA Resort & Indoor Waterpark

[chssooner]

Well this might be the impetus to improve the infrastructure in that area.

Very true. But I will believe that when I see it. They won't be able to justify the costs to improve that intersection unless they announce the stadium is going there, I fear.

I do agree with you, and it could work out in OKC's favor.

[BoulderSooner]

I wouldn't even think they would need a loan. Chickasaws have tons of money, js....

Interest rates are low. It is good business practice to borrow money no matter the size of your business

[HOT ROD]

Those other projects DO have governmental support. The tribe is the government on tribal land.

technicality eh?

I think you and most people would recognize I was speaking of the state/local government of Oklahoma/OKC and our TIFs. ... You know, the Economic Development office of Oklahoma City (as one that I disclose skepticism of). Obviously tribal governments will support tribal development on their own lands. ...

[Swake]

technicality eh?

I think you and most people would recognize I was speaking of the state/local government of Oklahoma/OKC and our TIFs. ... You know, the Economic Development office of Oklahoma City (as one that I disclose skepticism of). Obviously tribal governments will support tribal development on their own lands. ...

Not a technicality. Projects owned by the tribe on tribal land don't pay property tax to the tribe, that would be dumb. They want a TIFF on the property taxes on land they own in Oklahoma City.

[Bowser214]

Chickasaws are in talks with OKC Zoo about building an Aquarium, and they also are interested in building a MAPS-4 multi-purpose stadium outside the planned OKANA resort.

[Laramie]

Chickasaws are in talks with OKC Zoo about building an Aquarium, and they also are interested in building a MAPS-4 multi-purpose stadium outside the planned OKANA resort.

Got the impression that MAPS 4 Stadium will be on the 100 acre resort--city would help with road infrastructure and garage parking which will require more road access to the museum, resort, Aquarian & multipurpose stadium. Hope we receive more information on how this partnership works.

BTW: There's the Biden Infrastructure & grants money for new projects which could benefit both the Tribe & The City of Oklahoma City for this development with the road infrastructure.

.

[Bowser214]

I forgot to say that I got that information from NewsOk.

[Rover]

The Chickasaws could pledge future revenues, machines, etc.

How is that different than them backing the loan with their full faith and credit anyway. I expect they would be asked to do it even if the project is a separate legal entity.

[onthestrip]

Chickasaws are in talks with OKC Zoo about building an Aquarium, and they also are interested in building a MAPS-4 multi-purpose stadium outside the planned OKANA resort.

Why not start expanding the scope of a project and getting way more ambitious when you get a whopping 1/3 of your building costs covered? Throw $100 million towards any developer and of course a lot of cool new things will happen.

[Pete]

How is that different than them backing the loan with their full faith and credit anyway. I expect they would be asked to do it even if the project is a separate legal entity.

It's quite different.

There is a separate, registered document with the county that specifically delineates the future revenues as collateral.

It's a UCC agreement that is much easier to enforce in case of default; often placing the creditor as having first rights to the income stream. There are thousands of such documents registered with the Oklahoma County Clerk, and are completely separate and different that a property-secured mortgage note.

[SoonerMagic13]

without this development that money doesn't exist

That assumes that the land & area go unused for 25 years without the TIF ... seems unlikely.

[chssooner]

That assumes that the land & area go unused for 25 years without the TIF ... seems unlikely.

How long had it sat empty before the museum?

[golden_gatorcane]

Any talk going around to expand the street car to this area? While I want to see stadium and aquarium become realities, the FAM/OKANA area seems just a bit too far for walkability from downtown (Producers has that one advantage, although getting the land for stadium/aquarium there sounds problematic compared to a willing Chickasaw Nation). Wouldn't want to see this FAM/OKANA area build up and have to become exclusively car-centric for access with massive parking lots.

[SEMIweather]

I can think of a lot better places for a two mile streetcar extension to go. It’s gonna be tough enough to keep Producer’s COOP from becoming car-centric with massive parking lots whenever that gets developed, this spot would seem to be borderline impossible considering that it’s not only on the opposite side of multiple freeways relative to Downtown but also on the opposite side of the river. It does seem likely to me that this will ultimately become the site of the MAPS 4 Stadium, between the Energy probably destroying any goodwill they had with the city by inexplicably shutting things down for a season and also given that the $37 million earmarked for the stadium is probably not going very far at all with materials costs these days, it seems like this is a workable solution that would make sense for all parties.

[Laramie]

Producers Coop site (2017) wanted more than $65 million for 37 acres = 1.76 million per acre.

On a $37 million stadium budget, the FAM/OKANA site appears more feasible if built on the 100 acre site of which 40 acres
are planned for the OKANA Resort & Water Park.

[Pete]

I had posted this before... It shows the location of the proposed aquarium for Phase II:

[SEMIweather]

That map does make me wonder where exactly they could fit in a stadium.

[Pete]

That map does make me wonder where exactly they could fit in a stadium.

It would have to go to the west of the museum, in the area labeled "Future Phases".

Also, the proposed new exit from I-35 would be nearby.

[SEMIweather]

It would have to go to the west of the museum, in the area labeled "Future Phases".

Also, the proposed new exit from I-35 would be nearby.

Thanks for helping me get my bearings on where it would go.

[Scott5114]

Who is actually proposing the exit from I-35? The city? The tribe? Has anyone heard ODOT's take on it?

The southern end of this property is less than a half-mile from the major system interchange at I-35/I-40. Place it any further south and you run into the ramps for the SE 15th Street exit. Doing an exit ramp there and meeting safety standards for ramp spacing is going to be expensive since it will probably involve ramp braiding (sending one ramp over the other on a bridge). I wouldn't be surprised if ODOT refuses to play ball here, as they have legitimate safety and engineering reasons for saying no.

[HangryHippo]

Who is actually proposing the exit from I-35? The city? The tribe? Has anyone heard ODOT's take on it?

The southern end of this property is less than a half-mile from the major system interchange at I-35/I-40. Place it any further south and you run into the ramps for the SE 15th Street exit. Doing an exit ramp there and meeting safety standards for ramp spacing is going to be expensive since it will probably involve ramp braiding (sending one ramp over the other on a bridge). I wouldn't be surprised if ODOT refuses to play ball here, as they have legitimate safety and engineering reasons for saying no.

This. Is there any chance of modifying the 15th St exit and the Eastern exit off I-40 for this project?

[Midtowner]

City could do a lot with that money. This seems extremely overboard.

More like OKC Public Schools could do a lot with that money as it's repaid with redirected ad valorem taxes which usually fund schools.

[Pete]

Who is actually proposing the exit from I-35? The city? The tribe? Has anyone heard ODOT's take on it?

I'm sure this is a behind-closed-doors talk with the Chickasaws and the Alliance for Economic Development and/or the OKC and state chamber.

Just like the big incentive package that was likely decided well before this project was announced but is just now showing up on a public agenda (a gap 5 months between the Chickasaw's press release and when I first saw it on an innocuous public agenda).


For better or worse, that's the way everything that falls into the very broad category of economic development is handled. And things are organized to avoid any open records or open meetings statutes.

Therefore, there is no way for the public to know exactly what is going on and have any input until the powers that be are ready to release the information, almost always long after the important aspsects have been agreed upon in closed meetings.

[Pete]

More like OKC Public Schools could do a lot with that money as it's repaid with redirected ad valorem taxes which usually fund schools.

As a reminder, 70% of property taxes in OK County go to fund public schools.

[GoGators]

The current entrance to OKANA is less than 500 yards to the I-40 on/off ramp. It's also a 3 min drive from the current entrance to the on/off ramp for I-35 at SE 15th. Why on earth would there need to be a new exit built from I-35 for this property? Is 3 minutes to I-35 and 3 seconds to I-40 not good enough interstate access?