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From YouTube: Economic Development Trust - March 31, 2020
Description
The regular meeting of the City's Economic Development Trust of March 31, 2020.
B
Thank
you.
Thank
you
for
joining
us
by
a
phone.
We
have
a
few
announcements
to
make
regarding
how
the
teleconference
meeting
will
work.
First,
I
would
ask
everyone
on
the
line
to
please
mute
your
phone
to
eliminate
any
background
noise
trustees
manager,
secretary
or
municipal
councillor.
Please
only
unmute
as
necessary
to
indicate
that
you
would
like
to
be
recognized
for
comments
all
other
participants
and
staff
are
to
remain
on
mute
until
recognized
by
the
Chairman
or
the
general
manager.
B
If
a
cut
teleconference
is
discontinued
at
any
time.
During
the
meeting,
the
meeting
shall
be
stopped
and
reconvened.
One
audio
connection
is
restored.
If
communication
is
unable
to
be
restored
within
30
minutes,
items
remaining
for
consideration
will
be
moved
to
the
next
regularly
scheduled
trust
meeting
on
April
28th
at
3:00
p.m.
via
teleconference
number.
Three.
Anyone
wishing
to
speak
about
an
item
or
to
be
included
in
the
citizens
to
be
heard
portion
at
the
end
of
the
meeting
should
call
405
two
nine
seven.
B
Two
two
four
five:
please
submit
your
request
now
to
avoid
receipt
of
your
request.
After
the
item
has
been
considered,
number
four,
the
agenda
and
attachments
are
available
at
our
website.
Okc
gov.
We
have
three
presentations
on
the
agenda
today.
I
would
ask
each
presenter
to
prompt
participants
to
turn
the
page
as
they
move
through
slides
and
pages
with
that
I
will
turn
it
back
over
to.
D
E
F
C
C
F
D
F
A
D
D
C
F
C
D
B
This
property
was
acquired
from
OG&E
for
the
construction
of
a
parking
garage
to
help
support
the
Convention
Center
and
the
Convention
Center
Hotel
the
arena
and
scissor-tailed
park
developments.
The
property
was
divided
into
two
marshals
last
December
1,
where
the
parking
garage
will
be
located.
The
other
will
be
a
mixed-use
development,
largely
residential
and
now
it's
time
to
convey
that
property
to
cut
by
they
are
the
construction
of
the
parking
garage
is
now
under
way.
D
D
C
F
F
A
B
The
item
on
your
agenda
today
is
a
is
a
joint
resolution
with
the
Oklahoma
City
Council
to
approve
a
small
business
continuity
program,
and
that
is
the
cont.
As
the
councilmen
mentioned,
the
item
allocate
five
and
a
half
million
dollars
from
the
general
obligation,
limited
tax
bond
authorization
that
was
approved
by
the
voters
in
2017
for
economic
development.
The
program
is
designed
to
help
small
businesses
in
Oklahoma
City,
retain
employees
and
and
help
them
to
make
it
through
the
the
impact
of
the
kovat
19
pandemic.
B
In
order
to
qualify
for
this
program,
businesses
must
demonstrate
a
significant
drop
in
revenues.
Since
the
beginning
of
the
proclamation
by
the
city,
they
need
to
demonstrate
a
50%
drop
year-over-year
in
business
or
sales
since
March
16
2020.
They
also
need
to
receive
a
majority
of
their
revenue
from
on
location
so,
and
that
can
be
the
sales
of
goods
or
it
can
be
the
sales
of
services.
A
priority
will
be
given
to
businesses
that
have
locate
that
have
operated
within
the
city
limits
for
at
least
one
year
and
to
the
fullest
extent
possible.
B
We
would
like
to
allocate
25
percent
of
these
funds
to
visitors
that
are
located
in
as
low
to
moderate-income
census
tracts.
So
the
program
has
four
components.
The
first
one
is
designed
for
businesses
that
have
fewer
than
15
employees.
It
is
a
small
business
incentive
program
where
a
cash
incentive
would
pay
up
to
$10,000
for
the
reimbursement
of
payroll
expenses
for
retained
employees.
Again,
businesses
have
to
have
fewer
than
15
employees
in
order
to
qualify
the
next
program.
Our
is
a
series
of
small
business
loans.
These
loans
are
designed
for
businesses
up
to
50
employees.
B
The
first
part,
the
first
program
is
a
no
interest
forgivable
loan
in
the
amount
of
up
to
$50,000
qualifying
employees
that
qualifying
businesses
would
have
to
have
less
than
50
employees,
and
the
loan
could
be
forgiven
over
time.
The
second
loan
program
is
a
low-interest
loan,
where
we
would
provide
a
2%
interest
rate
on.
B
We've
had
a
lot
of
questions
about
SBA
programs,
teleworking,
IT
solutions.
You
know
how
to
build
a
better
ecommerce
platform,
all
kinds
of
different
things.
So
that's
what
that
program
is
intended
for
resolution
does
give
the
city
manager
the
authority
to
move
money
between
programs
so
that
if
we
found
that
we
had
more
demand
for
the
cash
incentive
than
we
did
for
the
loans,
we
could
make
adjustments
in
that
way.
B
Just
a
couple
of
other
pieces
of
information
about
the
program,
we
will
be
launching
a
website
and
an
online
tool
for
businesses
to
use
to
apply.
We
hope
to
have
that
up
and
ready
to
accept
applications.
Next
Monday
April
6
and
we're
developing
frequently
asked
questions
and
instructions,
we're
also
working
on
a
media
toolkit
different
ways
to
get
the
message
out,
trying
to
find
organizations
throughout
the
city
that
can
help
us
communicate
this
to
all
parts
of
the
city.
So
with
that
I'll
be
glad
to
answer
any
questions
and.
B
We
I
don't
I,
don't
know
that
it
has
any
impact
of
it.
The
federal
government
has
rolled
out
a
paycheck
protection
program.
We
are
allowing
businesses
to
apply
for
our
program,
even
if
they
have
applied
for
the
other
federal
programs
so
I
as
far
as
any
financial
impact
I
don't
know
that
we've
completely
waited
through
all
of
there's
only
four
hundred
and
forty
pages
of
regulations,
but
we're
we're
trying
to
sort
all
that
out.
But
I
don't
know
that
there
is
an
impact
for
businesses.
B
A
D
B
Yeah
I
mean
obvi.
Many
of
our
businesses
began
closing
on
March
16.
With
the
initial
declaration
by
the
mayor.
You
know
many
others
were
asked
to
close
on
March
24th,
so
we've
we've
seen
a
really
big
impact,
among
especially
restaurants,
local
retail
and
then
now
personal
services
kinds
of
employers.
So
we
we
are
trying
to
get
this
out
as
quickly
as
possible
in
order
to
help
give
businesses
some
resources
to
help
them
to
help
tide
them
over.
Until
maybe
some
of
the
larger,
more
robust
federal
programs
are
put
into
place
but
yeah.
B
F
B
The
resolution
gives
the
general
manager
and
the
city
manager
quite
a
bit
of
authority
to
set
out
the
administrative
procedures
and
policies
that
are
going
to
be
necessary
to
administer
this.
Just
as
a
little
bit
more
background
on
the
loan
program,
we
will
be
working
with
a
local
bank
to
underwrite
and
third
service
the
loans
we've.
F
B
A
local
bank
volunteer
to
to
do
that
for
us
for
free,
so
we're
we're
very
appreciative
of
them
stepping
forward
and
doing
that.
We
also
have
a
local
business.
That's
helping
us
develop
the
online
platform
so
yeah
that
we
think
that
we
and
we
will
be
developing
based
scoring
a
set
of
scoring
criteria
for
the
applications,
because
we
do
know
that
we
will
get
more
applications
than
we
will
have
funding
more
than
likely.
So
thank.
F
F
D
D
D
A
B
Project
that
is
at
the
old
Marcus
Garvey
school,
which,
before
it
was
called
Marcus
Garvey,
it
was
called
harmony
school.
It's
located
at
Northeast,
24th
Street,
the
school.
The
plan
for
the
project
is
to
build
40
units
of
multifamily
housing.
It
will
be
senior
and
grandparent
housing
I
norm,
C
Berg
on
the
call.
Is
he
going
to
make
a
presentation
today
about
I.
A
B
B
E
E
A
Okay,
I
apologize
well
I
want
to
compliment
whoever
wrote
the
background
piece
on
this
I
learned
a
lot
and
makes
me
more
excited
to
be
part
of
the
project.
So
looking
at
the
support
which
I
guess
starts
on
page
32
of
your
packets,
this
is
how
I,
principally
approach
a
project
is
to
kind
of
understand
how
the
site
plan
would
work
with
the
concept.
So
this
is
just
the
old
school
building
itself.
A
The
auditorium
will
retain
for
not
only
auditorium
but
probably
a
fitness
center
and
demonstration
kitchen
and
then
the
other
area
glided
out,
so
I
could
kind
of
do
a
site
plan
we'll
be
doing
20
new
construction
units
and,
as
Cathy
said
this
is
it's
it's
a
it's
classified
as
a
senior
project,
but
under
this
type
of
classification
for
the
IRS,
it's
their
only
written
needs
to
be
one
person,
who's
55
or
over
in
the
unit.
So
that
weighs
room
for
four
grandchildren
or
olders
people.
It
can
be
largely
next
generation,
so.
A
Through
what
the
demographic
of
the
area
was
was
like,
we
settled
on
this
as
something
that
would
answer
the
needs
of
the
of
the
area,
so
I
take
this
drawing
I
kind
of
principle
and
what
I
think
it
would
look
like,
but
fortunately,
if
you'll
turn
the
page
and
look
at
33.
This
is
what
professionals
have
done
with
my
concept.
So
it
looks
a
lot
better
and
we're
retaining
the
whole
school
building
there.
A
You
show
the
construction
of
the
new
units
and
the
complexes
we
have
a
community
art
and
we
also
have
a
community
building
which
will
be
new
construction,
which
will
house
additional
services
for
the
residents
and
anytime.
You
have
a
question
just
break
in.
They
might
come
up
as
I
go
through.
These
lets
room,
pretty
quick,
okay.
A
So
looking
at
page
34,
we
have
the
architect
just
kind
of
give
us
a
basic
layout,
and
this
is
how
the
ground
floor,
the
old
school
building,
will
look
when
it's
built
out.
The
historic
preservation
principles
required
that
we
preserve
the
corridors.
Doorways
anything
of
historical
significance,
facade
windows,
things
of
that
nature,
so
our
work
will
be
done
with
an
eye
to
retaining
those
boring.
A
A
So
in
summarizing
you
know
the
benefits
to
the
community
of
the
project.
I
have
kind
of
a
I've
broken
down
the
budget
into
very
rudimentary
line
items.
Basically
the
budget
as
it
stands
is
a
nine
million
one
hundred
and
fifteen
thousand
dollar
budget
and
it'll
be
used
to
purchase
the
property
through
the
renovation
and
build
a
new
construction.
There's
a
two
hundred
thousand
dollar
plus
budget
for
landscaping
in
there.
So
we
want
to
pay
a
particular
attention.
A
You
know.
Pura
has
got
helping
us
this
five
acres
of
a
land
that
comes
with
this
building
and
we
want
to
make
the
best
use
of
it
and
make
an
attractive
to
the
community.
So
all
the
units
will
be
targeted
to
people
or
families
at
or
below
60
degrees,
60
percent
of
area
median
income.
Forty
percent
will
be
added
below
50
percent
of
area
median
income,
and
you
know
these
things,
you
call
it
affordable
housing,
but
it's
not
really
affordable,
which
is
why
we're
making
the
request
we
need
to
this
access
different
levels
of
finance.
A
For
this,
the
low
income,
housing
tax
credits
state
will
income
housing,
tax
credits
with
your
blessing,
the
the
bond
fund
proceeds
and
some
of
the
TIF
proceeds,
but
I
think
it'll
be
well
worth
it.
When
it's
finished,
we've
been
in
contact
with
several
area,
leaders
and
businesspeople
and
pastures
and
and
we're
all
excited
about
this-
we
fielded
their
input
and
we
feel
the
project
represents
the
desires
of
the
community,
and
we
can
do
a
good
job
of
that.
So
really
appreciate
the
opportunity
to
present
this.
B
This
is
Kathy.
I
would
just
like
to
add
a
couple
of
things
to
this.
First
of
all
and
Mister
Seberg
mentioned
this
briefly.
The
building
is
the
property
is
currently
owned
by
the
Oklahoma
City
urban
renewal
authority.
We
issued
a
request
for
proposals
to
identify
a
developer
to
redevelop
the
project
and
norm,
and
his
group
were
selected.
B
Well,
they
they
have
made
application
200
for
the
Oklahoma
Housing
Finance
Authority
for
the
nine
percent
state
I
mean
the
nine
percent
of
federal,
affordable
housing,
tax
credits,
so
once
they
know
about
that
award
I
believe
it's
in
June
or
July.
They
can
begin
worked
on
the
project
in
earnest,
but
we
needed
to
get
all
of
these
approvals
in
place
first,
in
order
for
them
to
qualify
for
the
state,
affordable
housing,
tax
credits.
D
D
B
So
this
item
is
presentation
by
the
Miri
Gardens
foundation
and
author
is
a
request
for
staff
requesting
staff
to
draft
a
memorandum
of
agreement
with
the
myriad
gardens
foundation
for
the
allocation
of
tax
increment
financing
that
was
approved
by
City
Council.
The
amount
of
tax
increment
financing
that
was
approved
was
roughly
roughly
six
million
dollars,
five
million
dollars
from
the
downtown
tips
and
about
nine
hundred
and
fifty
thousand
from
TIF
eight,
which
is
a
Devon
headquarters
to
marine
heparin
in
it.
It
should
be
on
the
phone
and
able
to
make
a
presentation
about
this
project.
G
Afternoon,
everyone
well
I'll,
just
briefly
run
through
this
presentation.
I'm
assuming
you
can
see
the
images
as
I
talked
about
them,
so
the
crystal
bridge
turned
32
this
month
and
it
was
built
even
a
few
years
before
that,
so
we're
at
a
point
in
its
life
cycle
that
it
really
needs
some
major
investment
in
the
interior
to
bring
it
up
to
a
level
that
can
make
it
a
much
stronger
attraction
or
for
the
city
and
for
us
to
attract
more
visitors
and
really
help
us
be
even
more
financially
sustainable
for
the
next
generation.
G
There's
some
images
here
that
what
thought
would
be
fun
to
see
from
the
very
early
years
this
was
before
it
opened.
Actually
in
1988,
you
can
see
that
again,
it's
at
least
a
generation
old
and
and
needing
some
investment
to
keep
it
strong.
When
the
debin
tipped
money
was
able
to
renovate
the
exterior
of
Myriad
Gardens
almost
nine
years
ago.
G
That
made
a
tremendous
impact
in
how
how
much
better
the
myriad
gardens
has
been
for
the
for
the
city
and
the
last
missing
puzzle
piece
to
make
this
a
truly
world-class
attraction
and
cultural
gem
is
to
invest
in
the
crystal
bridge.
The
interior
really
hasn't
changed
much
at
all
from
when
it
was
first
opened.
You
know
over
32
years
ago,
so
why
we
need
this.
Renovation
now
is
to
update
the
aging
infrastructure.
G
We
really
want
to
enhance
the
accessibility
for
seniors
and
others
with
special
needs
right
now,
it's
a
little
too
challenging
for
some
of
these
populations,
and
we
really
wanted
to
improve
that
and,
as
I
mentioned,
this
gives
us
a
wonderful
opportunity
to
have
more
visitors
to
sell
more
membership
which
reduces
the
city's
chair
of
the
maintenance.
It
takes
to
operate
the
gardens
every
year.
So
that's
for
our
long-term
financial
sustainability
and
to
reduce
the
city's
share
of
the
operating
management
fee
every
year.
So
the
next
image
here
showed
what
this
will
cover.
G
So
we
we
have.
This
Dell
has
three
phases
and
phase
one
was
completed
that
helped
us
to
renovate
our
South
Lobby
at
a
beautiful
new
classroom
to
the
first
level
and
now.
The
second
phase
helps
us
completely
redo
the
interior
of
the
crystal
bridge
and
also
fix
up
our
North
Lobby.
To
make
that
program,
space
Phase
three
would
be
to
do
the
sections
in
brown
shading
on
the
West
Terrace,
and
also
doing
our
South
Lobby
entrance
to
make
that
a
much
better
entrance
to
the
gardens
on
the
south
end.
G
So
you
can
see
the
renovate
the
renovation
of
the
lobby,
which
turned
out
quite
beautiful
our
new
classroom,
a
new
conservatory
entrance
that
was
all
completed
a
year
and
a
half
ago,
and
then
here
is
our
crystal
courage
view
again:
it
really
hasn't
changed
by
since
it
first
opened.
We
have
a
beautiful
plant
collection.
G
We
have
a
really
wonderful
curator,
who
has
really
turned
the
bridge
around
the
last
eight
years
and
plant
collections
are
are
just
beautiful
and
then,
if
we
can
renovate
it
and
adding
collections
back
in
it's
going
to
be
an
incredible
incredible
attraction
for
residents
and
all
of
the
visitors
that
will
be
increasing
to
the
downtown.
It's
a
great
for
education,
like
the
collections
of
flowers
and
edibles.
G
It's
just
great
for
kids
to
learn
about
all
that
in
all
ages,
so
onto
some
of
the
photos
that
show
why
we
need
to
really
improve
this,
so
you
can
see
it's
not
very
beautiful.
The
railing
the
waterfall
was
planned,
unfortunately,
that
it's
just
wet
and
a
little
slippery.
It
gets
mold,
quick,
mold
growth
there
and
it
just
doesn't
look
good.
It
really
needs
a
facelift.
G
G
It
kind
of
blocks
at
the
old
entrance,
so
it
just
needs
to
be
really
thought
through.
This
elevator
shot
that
I'm
on
now,
you
can
see
how
there's
a
lot
of
rust
that's
happening
and
different
support
structures.
It's
a
humid
environment
and
so
rust
can
be
a
problem
after
35
years.
You
see
a
lot
of
uneven,
surfacing
outdated
of
these
bricks
again
that
we
want
to
fix
all
that
and
make
it
look
much
much
more
up-to-date
he's
kind
of
passed
here.
G
You
see
this
this
mulch
path
against
and
it's
not
a
very
sophisticated
look
just,
to
put
it
mildly,
all
the
entrances
that
kind
of
lead
into
these
dark
corners
really
need
to
be
changed
and
improved.
So
there's
just
some
pictures
there
you
can
see
you
know
at
two
visitors.
This
is
not
really
something
you
want
them
to
experience
the
way
some
of
those
dark
corners.
Look
now
even
some
of
the
way
the
planting
beds.
D
G
We
can
turn
some
empty
space.
That's
right
now,
really
not
looking
good.
It's
poorly
used
into
something
really
special.
You
can
see
stairways
that
kind
of
lead
down
to
only
staff
areas
and
we
can
get
rid
of
those
or
mask
them
for
the
visitors.
Don't
see
that
behind
the
house
and
I
think
the
next
picture
is
probably
most
compelling.
G
Is
that
there's
just
a
certain
aging
infrastructure,
so
there's
a
lot
of
metal
support
underneath
the
displays
you
see
in
the
crystal
bridge
that
really
have
to
get
replaced,
or
certainly
strengthened,
the
next
images
of
our
North
Lobby
again,
you
can
see
a
very
dated
look
on
the
wall
when
they,
when
they
designed
it
you
this
is
coming
from
the
north
Lobby.
You
literally
hit
a
wall
when
you
come
in
to
the
bridge,
so
we
really
need
to
change
that
into
a
much
better
entry,
experience
and
kind
of
literally
hitting
the
cement
wall.
G
When
you
walk
in,
which
looks
like
that,
we
also
help
to
improve
the
wayfarer
sign
the
wayfarer,
the
the
wayfarer
signs
for
people,
especially
again
coming
from
the
south,
where
all
this
development
is
and
attract.
All
these
tens
of
thousands
of
people
will
be
at
the
convention
center
the
hotel
the
park
to
know
that
this
is
an
attraction
and
also
we,
if
we
have
the
funds
where
we
want
to
also
flip
this
into
phase
one
to
improve
our
our
South
entrance
as
well.
G
An
all-over,
better
visitor
experience,
we'd
like
to
have
a
new
waterfall
and
make
it
much
more
beautiful
and
pleasing
new
staircases,
new
flooring,
new
lighting,
different
types
of
pavers.
Throughout
the
the
first
floor,
the
ability
to
have
beds
where
we
can
change
out
flour
color
easily
and
more
often
so.
Visitors
always
have
these
stunning
colorful
views,
adding
sculpture,
adding
new
new
bridge
features,
hopefully
adding
a
new
water
feature
into
the
first
floor.
That
would
be
really
beautiful
and
unique,
and
also
adding
really
up-to-date
educational
signage
in
two
exhibits
and
new
school
programs.
G
We
have
thousands
of
kids
now
that
come
through
the
bridge
every
year,
and
we
can
make
this
a
much
stronger
educational
experience
for
them
with
this
new
investment.
So
these
are
some
examples
of
what
we
might
have
out
in
different
future
areas
that
we
don't
have
now.
These
really
meaningful
educational
experiences,
interactive
carts
at
schools
and
the
public
can
use
we'd
like
to
build
a
new
Terrace
on
the
second
level
of
the
Crystal
Bridge,
which
we
can
have
events
classes
wedding
ceremonies
for
earned
revenue.
G
This
would
be
a
beautiful
spot
for
that
new
things
on
our
sky
watch,
sidewalk
that
make
it
more
engaging.
This
is
that
oculus
room,
that's
a
cement
room.
We
would
we
have
some
ideas
to
add
sound
and
light.
As
you
sit
there
and
look
out
enjoy
the
views
to
the
north.
We
want
to
add
a
gift
shop
and
that
would
be
something
visitors
really
would
enjoy
and,
of
course,
that
increases
our
earned
revenue
to
the
garden
for
our
long-term
financial
stability
as
well.
G
We've
got
a
truly
top
top
team
of
people
working
on
this,
so
we
are
going
to
make
sure
that
the
results
are
just
stunning
and
that
the
community
is
really
proud
of
it
and
that
people
want
to
visit.
Does
it
often
become
members?
It's
a
selling
point
for
the
convention,
people
to
use
if
they've
got
this
great
attraction,
really
just
steps
from
the
new
Convention
Center.
So
the
budget
overview
is
Kathy
was
saying
what
we
want
to
do.
G
G
We
continue
to
privately
fundraise
to
add
this
total,
so
we
can
add
even
more
features
if
we
have
the
funds
and
we
do
want
to
keep
it
when
this
is
renovated,
and
we
hope
that
we
start
construction
late
this
year
that
we
finish
our
construction
documents
in
the
fall.
We
could
start
construction
as
early
as
December
and
then
we
would
be
constructing
it.
G
Planting
it
and-
and
our
plan
would
be
to
have
grand
opening
in
early
spring,
probably
March
of
2022,
and
we
really
want
to
keep
it
very
affordable
as
a
result
of
the
city
investment
in
it.
So
we
really
like
to
keep
it
very
affordable,
so
everyone
in
the
community
can
visit
and
enjoy
it
so
that
that
is
our
project
submarine
I'd
be
happy
to
answer
any
questions.
G
C
A
A
H
The
comments
that
I
wanted
to
kind
of
sum
up
with
and
I
think
these
stand
no
matter
what
the
conditions
are
that
you
know
when
we
look
into
our
future,
particularly
in
our
partnership
with
the
city
through
the
trust.
There
are
some
really
big
picture
things
that
we
have
to
continue
to
lean
in
on.
One
is
talent
having
the
right
talent,
whether
that's
helping
people
make
adjustments
to
skill
sets
and
be
realigned
to
a
new
economic
reality
or
preparing
for
talent
needs
with
continuing
high
demands
like
our
aerospace
economy.
H
H
Moving
forward,
that's
going
to
affect
our
ability
to
have
more
robust
and
diverse
opportunities,
but
also
to
continue
to
adjust
on
the
fly
as
situations
like
the
one
we're
in
in
the
middle
of
come
our
way,
so
I'm
happy
to
answer
any
questions,
but
on
on
the
high
level
at
a
high
level.
I
just
want
to
say
thanks
for
the
partnership,
we
we're
good
we're
excited
to
be
part
of
the
three
legged
stool
that
attacks
economic
development
on
a
regular
basis
in
partnership
with
the
city
in
the
Alliance.