The Norman Transcript
First of two hearings on plan set for Tuesday's City Council meeting
By Carol Cole
Transcript Staff Writer
The first of two public hearings on the proposed project plan for the $54 million University North Park Tax Increment Financing or TIF District is slated for the Norman City Council's regular meeting Tuesday.
The TIF District No. 2 would encompass a 585-acre tract east of Interstate-35 between Robinson Street and Tecumseh Road and west of Max Westheimer airport.
The area is owned by developer University Town Center LLC, Target Corporation and University North Park LLC, a wholly owned subsidiary of the University of Oklahoma Foundation, Inc.
The public hearing is to communicate information to the public and to answer questions and hear comments from citizens. No final vote will be taken regarding the district's approval at this meeting, although a first reading of the proposed ordinance that would approve the district is on the consent agenda.
In part, the TIF District No. 2 would fund $10.5 million in traffic and roadway improvements, including I-35 ingress/egress and off-site improvements at Robinson Street and Tecumseh Road and an I-35 frontage road.
About $150 million in development is projected for the site without the TIF District improvements, with a Super Target currently under construction. The plan projects $675 million in on-site and off-side development if the TIF District is approved.
Dan Batchelor, attorney with the Center for Economic Development Law, said the possibility of being able to achieve the full build-out of the University North Park site and off-site developments without the TIF District improvements is "nil."
"I don't see into the future, but just start with the current condition of the site. To begin with, the development potential has serious limitations unless you do very substantial public access improvements focusing on the traffic access interchanges with I-35 and develop frontage roads. The developability of the site -- that is fundamental," Batchelor said.
Three major components included in the TIF project plan are:
A major retail development within the southern portion of the project area;
A lifestyle center, which includes a large portion of the southern half of the project area. "The vision for the lifestyle center includes the high-end retail development and key entertainment components, including a theater, anchored by Legacy Park and a hotel-conference center complex. Legacy Park is envisioned as an active park with a lake, public art and open spaces surrounded by destination restaurants and boutique shops," reads the plan.
Major economic development, office and mixed-use development in the northern portion of the project area, which would focus on creating quality job opportunities in high-tech, financial intellectual property and administrative businesses.
The TIF District No. 2 would utilize half of ad valorem and sales tax increments generated within the district over a base amount to fund items in the project plans.
The second public hearing and potential council vote on TIF District No. 2 is set for May 23.
Other items on the council agenda are:
Consideration of abatement of 3710 Indian Hills Road. Staff recommends denial of the resolution because the site has already been cleared by the owner;
Consideration of abatement of a deck built into the adjacent concrete drainage flume at 1721 Oriole Court;
Consideration of amendment of the Norman 2025 Land Use and Transportation Plan for Carrington Place LLC from future urban service area to current urban service area and from very low density residential designation to low density residential designation for 21.48 acres on the south side of Franklin Road between 36th Avenue NW and 48th Avenue NW. Rezoning from A-2 or rural agricultural to R-1 or single family dwelling district is also under consideration along with a revised preliminary plat;
Consideration of several contract amendments between the Norman Utilities Authority and Round Table Corporation regarding payback agreements as a means of funding construction of the 36th Avenue Interceptor and the 36th Avenue Force Main projects; and,
Consideration of rezoning from RM-2 or low density apartment district to R-1 or single family dwelling district and PL or Park Land District to C-1, local commercial district, PUD or planned unit development, and R-1, single family dwelling district with special use for a church on a 202-acre tract north and west of Tecumseh Road and 12th Avenue NE. Applicant is Terre Verde Development LLC and Spears and McCaleb Company PC. Also under consideration for the site is a preliminary plat and PUD for Red Rock Addition and a lift station agreement for Red Rock Addition and Park Hill Addition.
More information on agenda items is available on the City of Norman Web site at www.ci.norman.ok.us.
