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From YouTube: Oklahoma City Economic Development Trust - 2-28-2023
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A
A
B
You
Mr
chairman
Mark
bedford's
here
today
to
give
a
brief
update
on
this,
but
before
he
goes,
I
just
want
to
give
a
little
bit
of
summary.
So
as
a
reminder,
this
is
our
property
that
we
refer
to
as
OKC
577,
577,
Acres,
I-240
and
89th
Street.
As
a
reminder
that
well
there's
been
various
actions.
This
trust
has
taken
on
this.
B
The
last
one
was
approving
the
master
development
agreement
back
in
November
of
22
and
as
part
of
that,
as
this
develops,
each
of
the
individual
deals
will
come
back
to
this
body
and
also
to
the
Oklahoma
Industries
Authority
as
well.
So
today,
I'm
happy
to
report.
We've
got
our
first
three
Deals
coming
here
and
so
just
as
a
very
quick
summary,
we've
got
95
Acres
that
will
be
used
for
manufacturing,
11
million
dollar
purchase
price,
and
let
me
back
up
as
part
of
as
part
of
the
master
development
agreement,
our
Master
lease
agreement.
B
Ocdt
will
receive
a
minimum
of
twenty
four
thousand
dollars
per
acre
back
or
25
percent
of
the
purchase
price.
Whichever
is
higher
and
we're
going
to
talk
about
that
in
a
minute,
but
I
wanted
to
point
out:
we've
got
95
Acres
at
11
million,
which
means
ocdt
will
ultimately
receive
2.75
million
back.
We've
got
28.9
acres
for
some
spec
development,
for
6.3
million
ocdt
will
receive
back
1.5
million,
and
then
we've
got
another
site,
that's
1.3
million,
so
we've
got
a
total
of
4.6
million
that
OC
EDT
will
ultimately
receive
back.
B
So
this
comes
back
to
oia
and
it
will
be
transferred
immediately
to
ocdt.
The
point
I
wanted
to
make
is
how
successful
this
is
right.
Now,
if
we,
if
you'll
recall,
we
paid
about
12.3
million
for
the
entire
property,
and
if
you
extrapolate
that
to
you
know
these
acreages
that
we're
selling
today,
that
would
mean
ocdt
paid
about
a
little
bit
under
2.9
Million
and
you're
receiving
4.6
for
this.
So
it's
a
60
gain
to
ocdt,
just
on
these
properties
and
Mark's,
going
to
talk
a
little
bit
about
this
as
well
going
forward.
B
C
C
If
you
go
on
the
inside
cover
I,
think
it's
good
to
kind
of
take
a
step
back
and
and
rethink
where
we've
been
and
where
we
are
today.
So
on
that
site
plan
you'll
see,
this
is
our
where
we
currently
are
on
our
proposed
development.
It
it
changes
periodically
as
we
kind
of
maneuver
through
the
site,
but
what
doesn't
change
is
up
at
the
very
top.
C
We
are
building
a
frontage
road
on
240
that
goes
from
Eastern
to
Bryant
Street,
also
down
in
the
middle,
we'll
develop
what
we
call
a
spine,
Road
and
that's
the
connectivity
to
allow
for
the
the
development
to
actually
connect
and
really
interact
with
each
other
in
the
bottom
of
the
page.
You'll
see,
there's
lines
that
say:
ogne
and
Ong.
Those
lines
are
high
transmission
power
lines
and
gas
lines
that
were
actually
relocating
down
to
the
southern
Edge
or
on
89th
Street.
Also,
you'll
see
a
little
the
dot
that
says,
b
and
SF.
C
That
is
a
Burlington
Northern,
Santa
Fe
cell
tower
that
we
have
to
relocate.
All
of
those
costs
were
burying
and
so
at
the
top
you'll
see
where
it
says:
site
I.
C
That
is
the
site
that
we're
buying
and
we're
going
to
build
some
spec
facilities
on
that
right
below
that
you'll
see
two
light
blue
areas,
and
that
is
where
the
current
well
sites
are
on
the
site,
so
that
really
created
the
basis
that
we
built
our
development
around
and
that's
why
the
spine
road
is
located
in
its
the
location
that
it
currently
is,
and
the
last
item
I'll
point
out
to
you
is
the
OMG
there
on
the
left,
pretty
close
to
where
it
says:
Eastern
Avenue.
C
That
was
an
unforeseen
thing
as
we
started
building
our
spine
road,
we
found
that
the
ong's
line
is
only
four
feet
deep
and
that's
too
close
that
we
had
to
have
too
steep
of
a
grade
with
all
the
truck
traffic
that
was
going
through
the
site.
We
couldn't
have
that
steep
of
a
grade.
So
now
we
had
to
spend
additional
dollars
to
have.
C
Og
e
is
probably
going
to
take
six
to
seven
months
to
get
that
done,
but
they
had
to
lower
that
line
so
that
we
could
have
the
appropriate
grade
for
the
trucks
to
actually
go
through
that
spine
road.
So
you'll
also
see
a
the
red
square
around
the
quarter.
Section
of
land
I
highlight
that,
because
that's
one
of
the
challenges
that
we
have
on
a
daily
basis
with
this
particular
site,
the
oil
well
folks
have
different
easements,
but
they
also
have
a
blanket
easement
on
that
corner
section.
C
So
they
have
the
right
to
do
certain
things
within
that
area.
So
we're
trying
to
develop
that
particular
piece
as
quickly
as
possible
to
prevent
continued
erosion
of
the
land,
and
so,
if
you
go
into
the
the
inside
cover
where
it
says
projected
development
costs,
so
we're
spending
three
and
a
half
million
dollars
of
the
OG
transmission
line,
we're
spending
4.9
million
on
the
OG
E
power
transmission
line.
Those
are
the
relocation
I
mentioned
down
to
Southwest
89th
Street,
the
Burlington
Northern
microwave
Tire.
C
Relocation
is
800,
000.,
there's
a
good
chance
that
could
be
up
to
1.4
million,
but
right
now,
if
we
have
it
as
eight
hundred
thousand
dollars.
When
we
originally
reported
to
you
to
you,
we
had
the
I-240
Frontage
Road
at
about
2.4
million,
it's
going
to
end
up
being
about
3.9
million,
and
we
had
the
spine
Road
estimated
to
be
3.8.
It
looks
like
we're
settling
at
about
6.5.
C
One
of
the
reasons
that
price
has
gone
up
a
little
bit
is
one
of
the
things.
What
we
committed
to
yourselves
at
oia,
getting
your
group
and
everything
is
to
ensure
that
we
have
a
walkable,
very
nice
upscale
development
here
that
attracts
the
right
type
of
manufacturing
and
Industrial
users.
So
we
have
sidewalks
it's
a
Boulevard,
Trees
and
Landscaping
and
stuff.
We
don't
have
our
Landscaping
plane
fully
developed
yet
because
we're
still
in
negotiations
with
the
Well
site,
folks,
on
where
we
can
do
certain
things,
but
we're
getting
pretty
close
to
that.
C
We
we
believe
that
ultimate
we're
going
to
spend
about
6
million
on
relocating
utilities
inside
the
site.
We
also
we
used
to
have
the
site,
grading
and
interior
roads
at
about
36
million.
We
lowered
that
to
24
million
because
it's
just
getting
cost
prohibitive,
so
we're
going
to
push
some
of
the
burden
of
the
site
work
on
to
the
particular
users,
because
they
can
do
some
of
their
own
site
work.
So
we'll
do
a
little
bit
less
up
front
and
we,
we
have
still
have
about
two
and
a
half
million
dollars
for
developing
the
amenities.
C
I
have
a
little
note
there.
On
the
left
side,
we
originally
had
eight
million
dollars
in
our
cost
associated
with
extension
of
the
water
line.
I
took
it
out
of
our
cost,
because
we're
actually
getting
eight
million
dollars
of
arpa
funds
that
Keith
and
Kenny
and
OA
really
helped
us
get.
So
that's
extending
extending
the
capacity
of
the
water
lines
to
the
facility
that's
being
paid
through
Arbor
funds
that'll
be
done
through
the
Water
Resource
Board.
C
The
last
thing,
I'll
point
out
is
that
the
bottom
left-hand
corner,
so
this
site's
called
OKC
577
because
it's
supposed
to
have
577
Acres,
but
we
really
have
about
plus
or
minus
500
Acres
net
that
we
could
actually
sell,
because
once
you
take
the
Frontage
Road,
the
spine,
Road
the
well
sites
out.
So
if
you
take
that
500
net
acres-
and
you
say
about
55.6
I
mean
55
million
bucks.
C
We
have
to
sell
sites
at
2.55
to
actually
get
our
money
back,
but
we
pay
you
guys
25
cents
on
the
dollar,
so
we
really
had
to
sell
sites
at
3.19
a
foot,
so
the
site
I,
we're
actually
buying
from
ourselves
and
giving
you
guys
a
premium
at
five
bucks,
a
foot
to
help
start
setting
some
some
land
values
in
the
area.
So
the
last
thing
I'll
show
you
is.
If
you
look
on
the
back
side
of
that
page,
we
continue
to
refresh
our
timeline.
C
We
did
start
our
infrastructure
with
the
spine
Road
in
December
we
signed
contracts
with
ogne
Ong.
We
just
reached
an
agreement
with
Burlington,
Northern
and
and
we've
got
all
the
planning
and
we've
actually
filed
for
all
the
permits
to
the
city
for
the
spine
Road
in
the
Frontage
Road.
We
plan
to
close
in
April,
maybe
hopefully
at
the
end
of
March
site
I,
as
well
as
the
lock
site
and
commits
construction
shortly
thereafter.
C
We
believe
that
we'll
be
done
with
all
of
our
site
improvements,
including
all
the
relocation
of
O
and
G
and
OG
e
sometime
in
March
of
24,
as
well
as
we'll
be
finished,
with
our
a
portion
of
our
spec
facilities
and
then
March
at
25.
We
will
have
the
lock
done,
doesn't
mean,
there's
a
lot
of
other
things
that
are
happening
in
between
there,
along
with
hopefully,
a
bunch
of
other
sales
that
will
come
to
you
for,
but
this
is
just
where
we
sit
today
so
glad
to
answer
any
questions.
B
D
C
To
draw
more
so
I,
don't
think
so,
there's
actually
two
I
didn't
identify
here.
If
you
look
at
the
the
bigger
light
blue
area,
yes,
you
go
a
little
bit
to
the
right.
You'll
see
a
little
road
with
a
little
square.
Yes,
that's
actually
a
Well
site
and
you
go
all
the
way
over
close
to
where
it
says:
Bryant
Avenue.
We
have
two
little
planned
buildings
and
right
next
to
the
left
of
that
is
actually
another
Well
site.
So
there's
actually
two
more
well
sites
that
we
had
to
work
our
site
plan
around
I.
E
E
This
is
a
very
challenging
project
and
so
I
just
want
to
say
thank
you
to
you
and
your
team
for
taking
this
on.
I
guess
the
only
question
I
have
so
far
as
sales.
Do
you
are
you
all
working
with
a
chamber
or
how
are
you
creating
a
pipeline
for
these
manufacturers
that
you're
going
to
track
to
try
to
sell
to
yeah.
C
Yeah,
but
very
good
question
well,
I.
Think
one
of
the
reasons
that
we
were
selected
is
we
have
a
national
real
estate
firm
that
we're
associated
with,
which
is
the
Newmark
companies
they're,
actually
International,
so
we're
using
going
through
our
our
Network
as
well.
We
work
very,
very
close
with
the
Chamber
of
Commerce
Jeff
and
his
staff
have
been
very
were
locked
stuck
together
on
every
requirement
that
comes
in
town.
We
present
all
the
time
and
we've
got
four
or
five
various
prospects
in
different
stages.
Nothing
to
report.
Yet,
okay,
we're
hopeful!
C
A
B
B
This
is
a
relocation
of
a
headquarters
to
automobile
alley,
a
public
strategies
group,
it's
a
total
of
975
thousand
dollar
allocation.
As
a
reminder,
this
was
split
up
between
two
sources:
325
000
of
that
is
coming
from
Tiff
2,
which
is
basically
75
percent
of
the
increment,
that's
generated,
so
that's
a
pay
as
you
go
type
650
000
is
coming
from
Tiff
eight,
which
is
the
Devon
Tiff,
which
is
based
on
their
job,
relocation
and
job
creation,
incentive
a
budget
there,
they're
bringing
73
jobs
being
relocated
that
are
existing
jobs.