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From YouTube: Oklahoma City Economic Development Trust - May 26, 2020
Description
The regular meeting of the Oklahoma City Economic Development Trust, via video conference, for May 26, 2020.
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In
included
in
your
packet
is
a
copy
of
the
second
quarter
report
from
the
alliance
for
economic
development.
This
report
is
through
december
31st
2019.
So
it's
it's
a
little
bit
dated
and
we've
been
busy
on
lots
of
new
things
lately,
but
just
as
a
recap
of
some
of
the
important
things
that
we
were
working
on,
that
quarter
included
continuing
progress
on
the
homeland
grocery
store.
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We
have
been
continuing
on
with
developing
the
plans
getting
all
the
city
approvals
for
that
project,
so
we
are
continuing
to
make
good
good
progress
on
it
and
we
continue
to
work
on
the
completion
of
the
omni
hotel.
It
is
well
under
construction
and
scheduled
for
an
opening
in
january
of
2021
the
parking
garage
to
serve
the
convention
center,
the
maps,
the
scissortail
park
and
chesapeake
arena
and
the
hotel
is
under
construction
and
should
be
completed
later
this
year,
and
we
continue.
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The
alliance
continues
to
provide
project
coordination
services
for
all
of
these
projects
happening
in
the
district.
As
you
can
imagine,
there's
a
lot
of
conflicts
between
so
many
different
general
contractors
and
subcontractors
and
staging
locations.
So
we've
been
helping
with
that
part
of
the
project
management
we've
had
on
the
job
creation
front.
We've
had
several
new
projects
that
we've
been
working
on
and
as
of
december,
some
of
those
included
bakery
bling,
with
which
you
all
remember.
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We
have
on
northeast
oklahoma,
city
redevelopment
and
revitalization.
Just
a
couple
of
highlights.
As
you
know,
we,
the
urban
renewal
authority,
purchased
the
the
lions
mansion
in
deep
deuce
and
the
redevelopment
authority
purchased
the
brockway
center.
We
completed
both
of
those
transactions
last
year
and
in
january,
applied
for
a
national
trust.
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We
continue
to
work
on
fourth
and
gaylord,
where
we've
received
proposals
for
an
affordable
housing
project
on
that
location,
we're
working
with
central
oklahoma,
humane
on
a
new
compassion
center
that
will
be
adjacent
to
the
southern
part
of
scissortail
park.
The
heartland
office
development
we've
been
involved
in
and
just
various
other
projects.
We've
also
been
working
with
the
boathouse
foundation
on
the
barca
development
and
trying
to
get
all
of
those
the
documents
and
various
approvals
completed
on
that.
So
I
think
that
pretty
much
hits
the
highlights.
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Yes,
yes
and
our
you
know
when
we
wrote
the
retail
incentive
policy
several
years
ago,
it
was
envisioned
and
specifically
addresses
retail
and
underserved
areas,
including
food
desert.
So
I
mean
I
think
this
has
always
been
a
part
of
the
council's
intent
to
try
to
do
something
like
that.
So,
but
yes,
I
mean,
if
you
want
to
not
consider
costco
a
grocery
store.
This
is
the
first
true
conventionally
conventional
grocery
store
that
we've
provided
incentives
to.
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Hi
everybody
I'm
marva
ellard
and
jeff
irwin
and
billy
woodring,
who
are
partners
of
mine
in
this
or
on
the
phone
with
us
too.
I,
I
probably
don't
need
to
tell
you
all
about
a
lot
about
villa
because
most
of
you
have
been
very
aware
of
it
for
a
long
time.
We're
very
excited
about
the
projects
that
we're
doing
there
and
we're
happy
to
answer
any
questions.
Anyone
has
about
it.
We're
doing
some
for
sale,
residential
and
we're
doing
a
hotel
with
the
historic.
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Yes,
this
item
is
an
addendum
to
the
agreement
that
is
currently
in
place
with
metro
tech
for
the
renovation
of
the
south
bryant
campus.
The
the
major
change
is
that
metro
tech
is
was
originally
provided
us
with
a
completion
date
of
december
31st
2020,
and
they
are
requesting
a
three-year
to
that
project.
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Hello
guys,
we
are
we're
still
in
our
conceptual
design,
phase
of
that
we
we
have
some
we're
expanding
our
public
service
offerings
out
there
to
include
fire
safety,
and
our
police
academy
is
growing
out
there
as
well
we're
also
moving
in
an
aerospace
component
there.
That
requires
a
whole
new
building
and
we're
doing
the
plans
to
to
demolish
a
building
a
and
do
a
asbestos
abatement
to
to
be
able
to
build
on
that
that
area.
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This
this
item
is
an
agreement
to
complete
the
improvements
that
you've
already
approved
and
seen
the
allocation
for
the
tif
funding
from
tif
2
and
tip
8
for
this
project.
So
this
is
just
the
memorandum
of
agreement
between
the
trust
and
the
and
the
myriad
gardens
foundation
to
complete
those
improvements
to
the
crystal
bridge.
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Just
as
a
just
to
a
little
bit
of
additional
information,
the
myriad
gardens
foundation
has
raised
about
2.6
million
dollars
that
will
also
be
provided
towards
the
project.
So
it's
it's
the
5.9
or
you
know
just
shy
of
6
million
that
have
are
being
provided
through
tip
funding
and
then
another
2.6
million
from
the
mary
gardens
foundation.
I'm
sorry
they're
here
to
mow
my
yard.
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Good
afternoon
everybody
in
your
packet,
you
should
have
the
budget
document,
and
I
will
summarize
with
this
presentation
and
again,
this
is
the
proposed
budget.
We'll
come
back
in
the
at
the
june
meeting
with
final
adoption
as
we
as
we
as
we
finalize
that
out.
So
this
is
our
proposed
budget
for
next
fiscal
year
it
totals
1.65
million.
This
is
a
decrease
from
last
year
and
I
can
walk
you
through
some
of
those
changes
here
as
we
go,
so
the
tif
total
is
about
one
in
118
million.
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Is
is
tif
13,
so
last
year
we
had
budgeted
all
of
the
payments
for
the
convention
center
project
and
this
year
we're
not
budgeting
for
those
those
payments
to
the
project.
As
we
fully
extended
that
80
84
million
dollar
bond
issue,
the
sip
program
totals
35.9
million,
which
is
again
a
slight
decrease
from
last
year.
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We
had
about
45
million
in
that
program
last
year
and
that's
just
through
expenditures
on
projects
that
we
have
active
currently
and
then
general
economic
development
has
a
budget
of
11.2
million,
which
is
a
little
bit
more.
This
year
we
have
we're
doing
a
larger
payment
on
the
first
americans
museum
this
year,
so
I've
got
slides
that
will
kind
of
detail
some
of
this
as
we
go
through
just
a
high
level
summary
of
the
overall
changes.
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So
our
budget
does
include
funding
for
all
of
the
contracts
listed
here
below
and
we'll
now
go
into
each
tif
district
kind
of
talk
about
some
of
the
details,
so
the
tiff
tiff,
two
and
three
totals
39.9
million
you'll,
see
their
list
of
active
projects
that
we
will
be
making
payments
on
throughout
the
year
that
we
budgeted
for.
We
do
have
a
payment
for
debt
service
budgeted
at
9.8
million
on
our
debt
service
bonds,
totaling
67
million
dollars.
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We
also
have
a
transfer
of
three
and
a
half
million
to
the
convention
center
hotel
bond
fund,
which
is
one
of
the
transfers
I'd
mentioned
before.
Also
in
tiff
two
and
three,
we
anticipate
15.1
million
in
ad
valorem
taxes
to
be
collected,
375
000
from
the
skirvin
hotel
sales
tax.
This
is
a
state
match
on
that
project,
and
then
we
have
three
hundred
thousand
in
development
loan
receivables
from
four
or
five
loans
that
we
have
outstanding
in
tif
two
and
two
two
and
three
tip
four
and
five.
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Fifth,
eight
total
totals
33.1
million.
Active
projects
are
the
p180
package
eight
and
the
new
myriad
gardens
project
that
we
all
that
we
just
approved
the
mou
on.
We
also
have
a
budget
in
there
for
nine,
just
under
a
million
dollars.
This
is
again
a
transfer
to
that
convention
center
hotel
fund
that
I
mentioned
tif
13
and
we
have
in
revenue
we
have
11.3
million,
which
is
the
ad
valorem
minimum
tax
payment
on
the
devon
tower.
H
Tiff
nine
went
up
this
year,
you'll
see
let
me
get
to
my
page,
because
that
doesn't
have
my
total
on
it.
So
we've
got
a
budget
of
about
5
million
this
year
for
tif
9..
We
anticipate
300
000
in
property
tax
and
we've
budgeted
the
3.5
million
for
the
homeland
grocery
store
project
and
you'll
notice
that
in
the
tif
nine
budget
we've
already
transferred
that
funding
for
homeland
to
the
tiff
fund.
So
it
shows
as
revenue
or
fund
balance
and
then
we're
also
budgeting.
H
The
expense
for
homeland
tip
10
anticipates
300
000
in
property
tax
and
you'll
notice
on
that
one
that
we've
again
budgeted
the
25
million
for
the
long
term
debt
that
we
expect
for
the
first
national
project.
Most
of
you
know
that
that
did
not
come
to
fruition
this
year,
but
we
anticipate,
hopefully
this
year,
everybody's
still
working
on
gathering
and
securing
the
funding
for
that
project.
H
H
We
have
funding
streams
coming
from
various
locations
to
cover
the
the
debt
on
the
omni.
I
will
let
you
know
that
we've,
the
city
manager
and
brent
and
everybody
we've
been
in
several
discussions
about
maintaining
those
funds,
because
we
recognize
that
covid
and
everything
that's
happened
could
cause
some
delays
to
expected
revenue
that
we
had
from
the
convention
center
in
the
hotel,
and
so
we're
being
really
mindful
of
that.
But
that's
that's
pretty
much
the
what
this
budget
is
covering
now
are
those
debt
payments.
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Thank
you
joanna
quick
question.
I
hate
to
blindside
you
with
this,
but
let
me
set
it
up
today
in
council,
people
were
talking
about
the
fact
that
maybe
we
were
only
helping
out
large
companies
in
our
economic
development
effort
in
oklahoma
city,
and
I
interpreted
that
to
mean
companies
like
boeing,
but
we
also
have
on
our
list
of
projects
a
number
of
smaller
and
medium-sized
companies.
Do
we
not
that
are
also
receiving
economic
development
assistance?
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I
I
would
say
the
best
way
to
do
that
is
to
look
at
those
general
manager
reports
that
we
publish
with
our
monthly
meetings
it's
going
to
give
a
good
summary
of
the
payments
that
are
being
made
to
all
of
those
companies,
and
then
they
would
see
you
know
they
could
look
up
the
company
and
kind
of
see
what
the
size
was.
All
of
the
agreements
that
are
approved
through
the
processes
that
we
go
through
are
all
available
online
as
well.
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C
Thank
you
for
handling
it.
I
didn't
mean
to
do
that.
I
should
have
told
you
ahead
of
time
what
I
was
going
to
do.
You
handled
it
flawlessly
perfect
a
perfect
handoff
next
on
our
agenda.
Well,
no
first,
we
have
to
receive
the
proposed
fiscal
year
of
2021
oc
edt
budget.
Do
I
have
a
motion
to
receive
said
proposal.
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Thank
you
all.
That
concludes
everything
except
the
general
manager's
report
that
joanna
mentioned
a
minute
ago
and
that's
available
for
you.
If
you'd
like
to
buy
yourself
of
it,
to
see
exactly
the
details
of
what
the
trust
is
all
about.
That
being
said,
do
we
need
a
motion
to
adjourn,
or
can
I
just
do
it
francis.