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Description
The regular meeting of the Oklahoma City Economic Development Trust, via video conference, for Tuesday, April 28, 2020.
A
B
This
one
relates
to
programs
that
are
regulated
by
the
federal
government,
so
it
includes
see
the
Community
Development
Block
Grant
loans.
Those
could
include
section
108
loans
hook,
fund
loans,
special
economic
development,
loan
program,
EPA
brownfields
loans
and
tax
increment
district
1
is
more
than
just
the
federal
loans.
We
have
received
some
requests
from
large
and
small
businesses
about
forbearance
of
their
payments
during
as
a
response
to
the
Cova
19
pandemic,
and
so
this
resolution
sets
out
the
the
parameters
for
that
kind
of
suspension
of
payments
I.
B
While
he
may
have
some
other
things
that
you'd
like
to
add.
The
suspension
of
payments
will
be
for
a
period
of
six
months
unless
expressly
extended
by
the
council
or
trust
and
management
and
staff
are
recommending
that
limb
should
not
be
forgiven,
but
that
loan
payments
would
be
due
to
temporary
forbearance.
C
D
A
B
The
trust
had
approved
an
allocation
of
tax
increment
financing
in
the
amount
of
2.3
million
dollars
to
support
the
development
of
this
building,
where
Heartland
Payment
Systems
will
be
the
sole
tenant.
The
project
consists
of
a
hundred
thousand
square
feet
and
the
project
also
added
345
new
to
market
jobs.
B
B
Well,
this
this
project
is
a
little
bit
an
anomaly
from
some
of
the
typical
experiment.
Projects
that
we
do
with
the
developer
do
not
flip
the
project
for
some
period
of
time.
In
this
case,
what
we're
doing
is
an
agreement
with
the
company
not
to
get
out
of
their
lease,
basically
for
a
set
period
of
time
to
guarantee
that
the
jump
and
that
we
live
up
to
the
arrangements
that
we
made
with
the
company.
When
then,
we
encourage
them
to
locate
in
Oklahoma
City,
so
it
is.
A
C
Right,
I'm,
going
to
request
that
this
item
be
deleted
from
the
agenda.
I,
don't
think
the
agreement.
We
agree,
the
Steve
some
last
minute
requests
for
some
changes
to
it
and
I.
Don't
think
it's
in
a
form
that
I
feel
comfortable
presenting
to
the
trust
at
this
time.
So
I'd
like
to
pull
it
from
the
agenda
and
bring
it
back
to
the
later
date
and
time.
A
C
E
A
A
E
Well,
thank
you
guys,
included
in
your
packet
is
our
third
quarter
report.
We
we
deviated
from
our
normal
report,
this
time,
two
more
match
up
a
current
conversation
about
what
we're
seeing
lives
on
in
the
economy.
Good
news
is
on
that
first
slide
slide
two
or
slide
3.
So
sorry,
yeah.
We
have
continued
to
have
a
lot
of
movement
to
our
relief
on
projects.
We've
got
several
good
pending
projects
and
we've
had
some
expansions
and
some
other
just
relocation.
Announcements
happened
in
this
past
quarter,
so
that's
been
really
welcome.
E
Something
the
inflow
of
new
projects
has
not
slowed
down
as
like.
We
expected
it
to
moving
forward.
I
just
wanted
to
give
you
some
information
about
what
what
we're
in
the
middle
of
and
then
also
what
we're
seeing
in
the
regional
economy.
So
a
lot
of
our
efforts,
as
you
guys
know,
have
been
really
focused
on
triage
triage
and
then
how
do
we
emerge
from
this
economic
condition
in
the
right
way?
So,
like
everybody,
that's
involved
in
this
call,
we've
been
involved
in
supporting
the
small
business
continuity
program.
That's
been
an
excellent
partnership.
E
I
want
to
give
a
specific
kudos
to
city
staff,
who
is
really
in
the
middle
right
now
of
the
validation
and
approval
process
and
I
think
we
can
talk
about
statistics,
but
the
sheer
volume
of
applications
and
how
those
have
been
handled
quickly,
validated
and
processed
well,
has
been
a
really
good
process.
I
want
to
give
kudos.
The
city
staff
is
managing
that
piece
of
the
puzzle
on.
A
E
Side
we've
also
been.
We
manage
a
lot
of
outreach
to
existing
companies,
especially
our
primary
employers,
making
sure
that
they're
connected
to
resources.
We
know
what's
going
on,
live
time
and
their
businesses,
and
we
can
help
them
manage
this
process.
Well
as
an
or
we've
also
been
focused
very
much
on
sharing
information
with
the
broader
community,
whether
that's
federal
programs,
city,
county
health,
information
or
providing
larger
sort
of
clearinghouse
information
about.
You
know
how
to
help
them
respond
to
the
ever-changing
environment
related
to
COBIT.
E
So
what
we're
seeing
on
the
good
front
is
that
a
lot
of
our
companies
were
successful
in
receiving
PPP
loans.
Even
though
we
have
the
28th
largest
population
of
any
state,
we
were
the
18th
highest,
ranked
allocation
state
for
PPP
loans,
with
numbers
about
4.6
billion
in
allocations
on
the
bad
news.
As
everyone
knows,
unemployment
claims
have
continued
to
climb
pretty
rapidly
and
they're,
not
climbing
as
rapidly
now
as
they
had
been,
but
as
of
April
4th
they've
been
about
37,000.
E
New
claims
for
unemployment
has
dropped
employment
and
about
42%
of
those
were
for
food
service
and
accommodations.
So
I
think
those
would
carry
trends
that
you
would.
You
would
guess,
industry
by
industry,
I'm
not
going
to
go
through
all
this,
but
you
can
see
some
bullet
points,
some
interesting
trends
in
manufacturing
logistics
and
back
office,
a
lotta
inflow,
continuation
of
inflow
of
back
office
projects.
E
I
think
this
signals
a
bigger
shift
to
Oklahoma
City
as
a
one
of
the
midsize
markets,
that's
out
of
a
very
dense
urban
environment
in
a
lower-cost
market
for
relocating
workload,
continuous
good
trend
for
us
manufacturing
logistics.
We
are
seeing
some
layoffs
for
also
seeing
very
localized
opportunity
for
logistics
to
serve
more
localized
markets,
which
I
think
bears
well
for
us,
and
you've
probably
seen
that
you
know
on
your
own
delivery
systems
where
people
are
needing
to
deliver
supplies
to
companies
or
consumers
faster
in
a
quicker
time
line,
entrepreneurs
and
startups.
E
It
depends
on
each
entrepreneur
how
they're
doing
what
sector
they're
in
and
what
sort
of
contracts
they
have
still
see
a
lot
of
availability
of
country
capital,
but
also
seeing
a
lot
of
companies
that
need
help,
and
then
restaurant
retail
I
think
we
all
kind
of
know
that
story
there.
A
lot
of
what
they're
telling
us
right
now
they
need
is
just
the
overall
guidance
that
the
city
and
state
will
continue
to
provide
as
we
reload
to
reopen
so
I'm
not
gonna,
go
through
everything,
but
just
to
close
for
us.
It's
about.
E
You
know,
understanding
the
impacts,
knowing
what
changes
to
expect
and
then
really
longer-term
positioning
for
opportunities.
In
the
context
of
this
partnership
we
have
with
the
city
and
the
Alliance
and
looking
at
specific
opportunities
that
make
sense
in
our
market.
We
think
that
if
you
really
look
at
the
the
needs
side
of
this
equation,
being
an
innovative
market
that
has
a
culture
of
innovation
and
having
long
term
talent,
pipelines
is
going
to
be
a
key
to
that
success.
So
I'm
happy
to
answer
any
questions.
A
E
I,
don't
have
a
good
answer
for
that.
Unfortunately,
I
can
dig
it
to
it
and
I
can.
Let
me
dig
into
it
and
see
if
I
can,
if
I
have
a
better
answer
and
I
can
send
something
to
city
staff,
but
I
know
we're
talking
to
companies
at
all
sort
of
parts
of
the
equation
of
people
that
are
furloughed
to
people
that
are
doing
work
from
home
or
even
like
places
like
tinker
that
are
still
cranking
out
work
load
and
not
have
I
mean
not
having
to
be
on
the
floor.