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From YouTube: Oklahoma City Economic Development Trust - 1-31-2023
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A
A
A
B
Yes,
Mr
chairman,
so
this
is
a
project.
That's
345,
Apartments
parking
garage,
mixed-use
space.
This
is
over
by
the
21c
Hotel
East
of
Classen
between
Maine
and
Sheridan.
This
original
agreement
was
from
2018..
This
is
really
trying
to
get
this
closed
out.
What
we
ran
into
was
part
of
our
original
agreement
had
a
requirement
that
any
financer
financing
would
have
to
subordinate
to
our
interests.
B
Hud
is
a
is
the
financing
institution
on
this
and
we
ran
into
an
issue
that
they
did
not
want
to
subordinate
on
this.
After
a
consultation
with
staff
and
legal,
you
know
we
determined
this
is
really
a
pay
in
payout.
So
we're
okay
with
amending
this
to
take
that
requirement
out.
If
the
developer
did
not
pay
in
their
taxes,
they
would
not
receive
any
incentive.
D
C
Pay
them
their
incentive,
sorry
yeah,
so
Dave
so
they've
been
paying.
So
we
really
feel
like
there
is
a
very
little
risk
at
this
point
to
agree
to
HUD
they're,
acknowledging
Arlene,
but
just
not
saying
that
it
takes
priority
over
theirs.
A
A
B
F
Good
afternoon
again
my
name
is
Christy
Jameson
I'm,
one
of
the
assistant
controllers
in
the
accounting
services,
division
of
the
finance
department
and
today
I'm
just
going
to
give
you
a
brief
update
on
the
audited
financial
report
for
the
fiscal
year,
ending
June
30
2022,
so
our
external
Auditors
audited,
the
financials
Alan
Gibson,
hulik,
otherwise
known
as
agh
and
included
on
page
five.
The
financial
report
is
the
independent
Auditor's
report
and
they
issued
an
unmodified
opinion,
which
basically
means
it
was
a
clean
audit.
F
The
financial
statements
are
prepared
in
accordance
with
generally
accepted
accounting
principles
and
presented
fairly
in
all
material
respects.
There
were
no
findings
in
the
audit.
However,
you
might
remember
that
last
year
there
was
an
audit
finding
and
that
is
still
included
in
the
comparative
report
for
this
year,
but
it
will
come
out
next
year.
F
Overall,
the
trust
net
position
increased
to
40.6
million
or
I'm
sorry
increased
by
40.6
million
to
a
negative
25.6
million
for
the
year,
and
this
was
compared
to
last
year's
net
position
of
a
negative
66.2
million
and,
as
you
might
recall,
a
negative
net
position
is
typical
for
this
type
of
trust.
As
it
is
a
conduit
for
the
city,
it
issues,
debt
and,
as
we
spin
down
resources
that
remaining
debt,
that's
being
paid
results
in
a
negative
net
position.
F
F
Total
debt
for
the
trust
at
June
30
was
235
million,
and
this
was
down
from
the
prior
year
of
261
million.
This
was
primarily
due
to
the
fact
that
we
did
Issue
series,
2021,
A
and
B
tax
apportionment
bonds,
but
they
were
refunding
the
series,
2013
apportionment,
bonds
and
then,
of
course,
also
regularly
scheduled
debt
payments
that
were
made
during
the
year.
E
A
D
Hello,
thank
you
so
Tammy
fate,
senior
manager
of
economic
development
for
retail
development
and
recruitment,
so
just
wanted
to
give
you
kind
of
an
update,
talk
a
little
bit
about
retail
Trends.
What
we
saw
in
2022,
new
and
existing
developments
that
we've
been
a
part
of
ongoing
engagement
and
then
some
of
the
announcements
that
were
made
in
2022.
So
to
kick
things
off.
Let's
talk
a
little
bit
about
the
industry,
Trends,
so
37
of
monthly
retail
sales
were
made
online.
D
Education
is
really
key.
When
shopping,
so
Omni
channels
create
more
meaningful
shopping
experiences
that
really
tie
their
brands
together.
I
think
Kohl's
is
a
good
example
of
that,
with
what
they've
partnered
with
Amazon
to
do.
You
know
take
back
and
things
like
that.
It
shows
that
basically,
people
spend
anywhere
from
130
to
160
dollars
more
when
they're
in
the
store.
D
So
if
you
can
get
somebody
in
the
store,
there's
a
there's,
a
bigger
chance
that
they're
going
to
spend
more
automated
technology
has
really
helped
with
labor
shortage,
and
it
helps
with
like
tracking
orders,
managing
customer
loyalty
programs
and
it
helps
landlords
in
terms
of
the
smart,
Property
Management.
So
if
somebody's
going
to
be
late
paying
for
you
know,
rent
or
something
like
that,
then
they
can
track
this
a
lot
quicker.
So
there's
a
lot
of
automated
technology.
That's
helping
realize
when
retailers
are
in
in
need
of
help
or
assistance,
same-day
delivery.
D
So
with
supply
chain
issues.
This
gives
retailers
a
clear
Advantage,
so
they
can
do
same-day
delivery
for
impulse
shopping
and
then
I
think.
This
is
interesting
that
social
commerce
is
on
the
rise,
so
selling
products
on
Instagram,
Tick
Tock
face
Facebook,
there's
a
43
Revenue
that
comes
from
social
media,
interactive
retail,
so
virtual
reality
live
stream
shopping
experiences
using
iPads
to
Showcase.
D
What's
in
the
store
and
you're
really
seeing
a
lines,
are
blurring
between
restaurants
selling
groceries,
retailer
businesses,
selling
cooking
classes,
so
you're,
seeing
everything
kind
of
morphed
into
one
and
that's
why
it's
so
important
for
like
mixed-use
developments
and
Community
investment
is
really
key.
So
68
of
retailers
are
planning
on
participating
in
more
Community
initiatives.
So
a
good
example
of
that
is
Kroger.
So
when
they
came
to
town
they
partnered
with
the
the
local
food
bank,
they
gave
a
huge
donation
to
the
food
bank
bar
k.
That's
getting
ready
to
open
near
The,
Boathouse
District.
D
They
do
all
kinds
of
pet
adoption
programs.
So
really
tying
your
brand
to
Something
in
the
community
is
really
key
and
the
next
slide
so
testly
advisors,
which
is
a
retail
organization,
that
closely
monitors
retail
activity,
shows
that
there's
more
companies
that
are
wanting
to
get
in
that
physical
footprint.
D
And
as
I
mentioned
earlier,
the
consumers
who
who
spend
money
more
when
they're
shop
in
person,
so
this
is
just
showing
how
a
lot
of
companies
are
really
trying
to
get
that
in
store.
So
even
if
they're
doing
a
lot
of
online
purchases,
they
still
need
that
physical
footprint
as
well,
so
omnichannel
is
really
key.
D
So
here's
just
kind
of
a
rundown
of
some
projects
that
we
work
on
kind
of
throughout
the
year,
so
producers,
Co-op
site
permits
have
been
pulled
to
start
the
first
phase
of
this
development,
which
will
include
multi-family,
there's
several
new
to
Market,
tenants
that
have
shown
interest
in
this
area.
So
we
work
with
sooner
investment
at
all.
The
major
trade
shows
and
help
promote
this
site.
D
So
the
oak
multiple
new
New
Market
attendants
that
were
announced
in
2022.
This
area
is
really
poised
to
change
that
whole
Retail
Landscape.
So
with
Restoration
Hardware,
our
house
and
Capital
Grille
Strawberry
Fields
first
phase
will
include
the
multi-family
component.
We
continue
to
work
with
out-of-state
developers
to
kind
of
showcase
this
site,
as
well
as
the
Architects
on
updating
the
renderings
to
really
talk
about
the
latest
things
that
are
happening
in
downtown
there's,
two
developments
that
are
in
the
works
at
13th
and
Broadway.
So
new
stream
capital
is
out
of
Texas.
D
They
just
submitted
something
to
downtown
design
review
and
then
there's
a
local
Development
Group,
that's
actively
working
on
an
area
in
this
Corridor
as
well,
so
the
half
which
is
located
halfway
between
Edmond
and
downtown.
They
will
be
announcing
a
new
to
Market
tenant,
which
is
an
entertainment,
user,
93
000
square
feet.
So
this
should
happen
sometime
in
the
next
few
months.
This
will
be
a
huge
ad
Oklahoma,
City
and
it'll
be
new
to
Market
to
the
only
one
in
the
state
so
Nova.
D
The
Dream
Hotel
project,
it
includes
924
residential
units,
three
towers,
350,
hotel
rooms,
41
000
square
feet
of
retail
and
restaurant
space
along
with
1800
parking
spaces,
so
we've
been
working
with
Randy
Hogan,
also
Madison
Capital,
to
help
find
the
tenants
for
the
retail
component
of
that.
So
we
have
two
two
possible
prospects
for
that:
Chisholm
Creek
working
on
an
independent
Hotel
concept,
additionally
multi-family
units-
and
they
should
have
several
new
retailers
announcing
later
this
year
and
then
O'connor
really
just
trying
to
help
tell
the
story.
D
D
We
do
a
campaign
twice
a
year
called
Stand
Tall
shop,
small
and
it's
an
opportunity
to
really
kick
off
like
July.
Is
the
slowest
shopping
month
for
most
retailers?
So
we
get
all
the
district
managers
together
host
a
lunch
and
talk
about
stories
and
things
that
could
be
beneficial
for
us
to
highlight
and
promote
the
local
flavor
of
Oklahoma
City.
D
So
B2B
Partnerships
are
really
key,
so
once
somebody
locates
in
Oklahoma
City,
it's
really
trying
to
get
them
integrated
into
Oklahoma
City.
So
a
good
example
is
a
bar
k,
so
they
will
be
opening.
I
would
highly
encourage
everybody
to
go
check
it
out,
but
they've
been
a
master
at
really
creating
the
private
Partnerships.
D
So
it's
connecting
them
to
like
a
threshold
and
like
rock
climbing
gyms
and
breweries-
and
you
know
they
move
here
and
to
try
to
get
them
really
integrated
in
in
our
culture,
really
supporting
the
independent
shopkeepers
through
sponsorship
opportunities,
maintaining
ongoing
relationships
to
really
understand
what
the
needs
are
of
local
retailers.
So
we
helped
out
with
the
holiday
pop-up
shops
also
we
sponsor
their
publication
each
year,
so
they
are
a
master
of
kind
of
working
with
the
locals
and
getting
that
information.
So
we
know
what
locals
need
in
order
to
grow.
D
We
do
a
lot
of
Outreach
to
DFW,
there's
a
lot
of
Concepts,
that
kind
of
consider
Oklahoma,
City
and
Arma
Texas,
and
normally
we
don't
want
to
be
in
arm
of
Texas,
but
since
they
are
like
growing
so
rapidly,
we
do
a
tremendous
amount
of
lead
generation
out
of
Texas
and
then
lastly,
new
store
opening
so
really
meeting
with
companies
that
open
new
retail
locations
trying
to
get
them
connected
to
resources
and
collaborate
with
other
local
business
owners.
D
D
This
has
been
a
labor
of
love
for
at
least
three
to
four
years,
so
it's
it's
nice
to
see
that
it's
finally
close
to
opening
mm-hmm
and
then
the
next
slide
really
just
lists
some
of
our
engagement.
So
we
attend
a
lot
of
shows
annually.
So
most
of
the
time
I'm,
probably
on
the
road
and
volunteering
on
a
lot
of
these
different
trade
shows,
is
really
key
for
us,
because
it
allows
us
to
bring
people
in
from
Oklahoma
City.
D
We
just
did
the
icsc,
Red,
River
show
and
every
single
panel
we
had
somebody
from
Oklahoma
City
represented.
So
it's
just
an
opportunity
to
kind
of
showcase,
what's
happening
here
and
have
somebody
on
the
private
sector
telling
the
message
for
us.
So
we
were
involved
in
Uli
next
Americas,
which
is
a
global
organization.
So
there's
people
on
there
from
Canada
from
Mexico
and
to
be
able
to
talk
about
Oklahoma,
City
I,
think
is
really
important
and
then
lastly,
here's
kind
of
a
quick
recap
of
the
the
major
announcements
that
happened
in
2022.
E
D
That
it
has
we've
had
some
meetings
with
some
retailers
that
we
weren't
able
to
get
previously.
That
now
are
wanting
us
to
sign
ndas
and
that
that
want
to
come
to
our
Market,
which
I
think
is
really
impressive.
So
I
think
when
you
talk
about
that,
we
have
one
in
10
employees
that
are
in
the
Aerospace
sector.
It
really
kind
of
changes.
The
the
landscape
for
people
there's
a
lot
of
companies
in
California
that
are
wanting
more
information,
because
there's
a
lot
of
people
that
are
leaving
California
and
wanting
to
come
here.
D
So
just
being
able
to
talk
about
you
know
our
employment
and
our
diversity
and
sectors
is
really
key,
so
it
is
getting
much
easier
and
there's
like
Texas
I,
feel
like
Dallas.
The
competition
is
so
strong
there
that
there's
a
lot
of
developers
and
brokers
in
the
Dallas
area
that
are
kind
of
starting
to
look
into
Oklahoma
City
now,
so
it
makes
it
much
easier.
D
B
Just
like
to
say,
thank
you
to
Tammy
does
work
with
my
staff,
a
lot
I
think
you
know
we
mentioned
all
those
developments
and
their
differing
stages
from
concept
to
happening
and
under
construction
and
she's
always
been
a
great
resource,
helping
us
kind
of
match
developers
and
opportunities
up
with
retailers,
both
national
and
local.
So
we
do
a
lot
of
strategizing
together.
They
they
really
put
a
lot
of
work
in.
So
thanks
to
the
chamber,
do.
D
Were
supposed
to
have
a
soft
opening
events
this
week
and
they
got
pushed
because
of
the
weather,
so
last
night
was
going
to
be
a
Uli
event:
it's
moved
to
Friday
and
then
they
should
be
full
open
next
week.
So
it's
it's
amazing,
the
Partnerships
and
the
amount
of
detail.
The
artwork
they've
thought
of
every
partnership,
opportunity
that
you
can
think
of.
So
it's
really
impressive
to
see
the
amount
of
detail
there.
A
G
Afternoon
so
I'm
going
to
present
to
you
the
proposed
changes
that
we
that
were
approved
by
city
council
at
the
last
their
last
meeting
two
weeks
ago
and
really
it
is
comprised
of
two
main
changes.
We
we
proposed
a
budget
change
and
then
boundary
changes
for
the
project
area
and
so
I'll
show
you
the
map
first
I'm,
going
to
start
with
the
budget.
Go
back
to
that.
First
slide.
Sorry
Sarah!
This
will
kind
of
give
you
an
idea
of
the
meetings
that
we've
held.
G
Okay,
so
the
budget,
the
current
budget
you
can
see
there
kind
of
in
the
center
was
28.3
million.
We
Consolidated
some
categories,
expanded
categories.
We
added
the
assistance
and
development
financing
which
you
all
are
probably
familiar
with,
is
kind
of
our
catch-all
for
various
development
projects
that
we'll
do
so.
G
We've
netted
an
increase
of
6
million
for
a
total
budget
of
34.2
million
just
below
that
you'll
see
what
we've
spent
so
far,
and
so
that
will
leave
us
with
a
budget
available
of
almost
21
million
and
then
the
section
below
that
I'm
kind
of
showing
what
our
cash
picture
looks
like.
So
we
have
about
4
million
and
of
course
this
is
a
couple
of
months
old.
G
So
if
you
go
back
and
look
at
the
general
manager's
report,
it's
probably
going
to
show
more
than
that
and
then
we're
projecting
about
15
million
in
collections
over
the
remaining
life
of
that
TIF
district
for
just
under
20
million
total
expected.
So
we'll
have
enough
budget
capacity,
hopefully
to
capture
all
of
the
expected
cash
over
the
next
few
years.
G
So
then,
this
picture
kind
of
shows
the
the
projected
expansion
of
the
project
area
so
keep
in
mind
we're
not
proposing
a
change
to
the
increment
area,
so
we're
not
proposing
an
increase
in
the
area
where
the
taxes
are
generated.
The
TA
the
area
that's
in
highlighted
in
blue
is
the
fit
print
footprint
of
the
Dell
site.
That's
where
the
sales
tax
District.
It
exists
and
then
the
hashed
red
law,
red
and
white
lines
is
the
ad
valorem
increment
district
and
we're
not
making
any
changes
to
those
prior
to
this
change.
G
We
worked
with
the
planning
department
pretty
heavily
on
this,
and
this
has
actually
been
in
the
works
since
Mr
mcatee
was
on
the
city
council,
so
this
was
something
we've
been
working
on
for
quite
a
while,
and
so
the
next
few
slides
kind
of
give
you
an
idea
of
sort
of
the
landscape
that
we're
looking
at
for
the
proposed
expansion
area.
You
can
see
the
uses
pretty
heavily
commercial
and
Industrial
on
those
two
west
side
and
then
the
east
side
we're
really
going
to
kind
of
focus
in
that
area
around
the
Stockyards.
G
We
excluded
the
outlet
mall
because
that
was
kind
of
an
outlier
in
that
Far
Western
section,
and
you
can
see
that
we
haven't
had
an
Inc
we've
had
a
decline
in
market
value.
There
we've
had
some
increases
in
the
other
two
areas,
but
I'll
tell
you
that
the
increase
in
Citywide
during
the
same
time
frame
was
about
30
percent.
So
these
pale
in
comparison
to
that,
and
so
we're
kind
of
showing
that
there's
been
some
stifled
growth
in
those
areas.
G
The
this
will
show
you
the
construction
and
sales
activity
in
the
areas.
I
will
tell
you
that
the
Far
Far
West
Side
those
kind
of
bright
blue
or
it
shows
that
there's
been
some
activity.
That
was
actually
the
dissolution
of
a
trust.
So
those
were
just
transfers
between
like
entities
and
so
really
there's
not
been
a
lot
of
activity,
and
so
the
hope
is
that
maybe
this
can
help
spur
some
activity.
G
The
next
slide
shows
the
age
of
the
structures,
and
so
it
gives
you
an
idea
of
kind
of
we're
working
with
40
to
60
year
old
structures
that
will
likely
probably
need
some
renovation
or
improvements
over
the
next
few
years
or
probably
years
prior
to
this,
and
then
the
next
two
slides
or
the
next
slide.
Maybe
so.
G
This
shows
projects
that
we
have
in
the
bond
or
sales
tax
plan
for
the
for
upcoming,
and
so
these
are
infrastructure
projects
that
are
planned,
and
the
idea
here
is
that
perhaps
we
could
use
some
Tif
funding
to
fill
in
some
gaps,
and
so
those
would
be
infrastructure
projects
that
we
propose
to
kind
of
utilize
to
help
make
those
dollars
go
farther
for
those
Bond
projects
and
the
sales
tax
I
think
that's.
The
last
slide
is
that
right,
Sarah,
okay,
I'm
happy
to
answer
questions.
A
B
Yes,
Mr
chairman,
that's
included
in
your
packet.
It's
the
normal
information.
There's
not
a
lot
abnormal
to
point
out
on
the
financial
piece
of
that
I
would
did
want
to
have
Joanna
make
just
one
more
kind
of
update
and
comment
on
towards
the
end.
There's
a
report
on
our
sip
program
and
kind
of
where
we're
at
on
that
and
we'd
give
you
an
update
a
couple
meetings
ago
that
we
were
looking
at
some
of
those
and
trying
to
follow
up
on
them.
So.
G
Yeah,
so
a
couple
of
months
ago,
on
that
sip
report,
you
will
notice
I
had
asterisks
again
next
to
a
couple
of
the
companies
where
I
was
going
to.
We
were
going
to
terminate
those
agreements.
We
were
able
to
reallocate
we'll
say
about
four
million
dollars
by
eliminating
a
few
of
those
contracts
that
had
just
been
inactive,
and
we've
got
about
four
or
five
million,
more
kind
of
on
the
table
that
I'm
working
through
with
the
company.
G
So
our
process
was
to
reach
out
to
the
companies
to
kind
of
talk
through
the
agreements
and
say
you
know
here
are
the
terms
and
what's
going
on
and
so
we're
still
working
with
some
of
those
and
I
will.
Let
you
guys
know
that
there's
a
clause-
and
it's
in
all
of
our
edas
for
the
Sip
deal
is
for
the
Sip
program-
is
if
a
company
is
more
than
120
days
late.
In
reply
in
providing
their
annual
reports,
we
reduce
the
incentive
by
half
and
really
the
idea
there
is.
G
They
came
to
us
for
the
incentive
and
the
idea
was
that
it
was
critical
to
the
needs
of
locating
in
Oklahoma
City,
and
if
it's,
if
it's
not
that,
because
they're
so
late
in
applying,
then
maybe
we
don't
need
that
those
funds
quite
as
much
and
so
we're
pursuing
that
on
a
lot
of
these.
And
so
it
will
end
up
what
a
little
happen
is.
G
It'll
just
reduce
the
allocation
that
we
have
so
and
most
of
those
I've
been
working
with
Amy
and
almost
all
of
those
agreements
have
the
ability
for
us
to
just
terminate
if
they
don't
meet
certain
terms.
So
we
won't
have
to
bring
back
anything
to
you
all.
Hopefully,
but
if
we
have
some,
we
may
have
some
activity
that
we
need
you
all
to
take
action
on,
but
for
the
most
part
we've
been
able
to
just
kind
of
let
those
terminate
on
their
own.
B
And
again,
I
want
to
reiterate
I
think
I
did
a
couple
meetings
ago,
that
we
try
to
make
sure
we're
being
good
partners
and,
not
being
you
know,
overly
heavy-handed
with
folks
trying
to
work
with
with
them
as
much
as
we
can,
but
sometimes
they
just
weren't
able
to
meet
the
obligations
or
you
know
they
didn't
produce
what
they
need
to
produce
so,
and
that
is
important.
I
do
want
to
stress
this.
This
is
program's
been
so
successful.
I
think
one
of
our
challenges
has
been
you
know.
B
The
amount
of
money
available
has
been
shrinking
and
shrinking
and
shrinking,
and
that's
something
that
the
chamber
and
I
and
Joanna
we
think
very
strategically
about
where
we
try
to.
You
know
Target
that
as
we're
chasing
prospects
and
things.
So
it's
one
of
those
just
trying
to
make
sure
we're
using
this
in
an
effective
way
and
that
you
know
we're
if
folks
aren't
performing
and
we
think
they're
never
going
to
perform,
making
sure
we
sort
of
free
that
up
to
go
chase
other
other
jobs.