The Norman Transcript


The Norman City Council split its vote 6-2 Tuesday to create a public trust to manage the finances of Norman's University North Park Tax Increment Financing District No. 2.

Ward 1 councilmember Bob Thompson expressed concern that the way the trust indenture was written, it wasn't limited to the TIF No. 2. He offered an amendment to limit the trust that was voted down 3-5 with himself, Ward 2 councilmember Jim Stanley and Ward 7 councilmember Doug Cubberley voting in favor.

On the original trust question, Thompson and Ward 2 councilmember Jim Stanley voted "nay."

Voting in favor were Mayor Harold Haralson, Ward 2 councilmember Richard Stawicki, Ward 5 councilmember Rachel Butler, Ward 6 councilmember David Hopper, Ward 7 councilmember Doug Cubberley and Ward 8 councilmember Dan Quinn. It took six votes to create the trust.

Ward 4 councilmember Cindy Rosenthal was absent.

"The TIF is an apple and the authority is an orange," said Harold Heiple, attorney who has represented some parties in the TIF No. 2 District.

Heiple equated the TIF trust to the Norman Utilities Authority, which has issued many revenue bonds for a variety of projects.

City bond counsel Allan Brooks said limiting the TIF trust could mean that administrative costs would go up to create trusts for each TIF District in the future, along with separate audits required for each of the city's trusts.

Resident Sylvia Martin said she didn't believe the city was being transparent.

"The term 'lack of transparency' is an easy term to throw around," Hopper said. "That's exactly what this trust is for."

Haralson will be the trustor for the trust with councilmembers acting as trustees. The council voted May 23 to approve the $54 million TIF District No. 2 project plan.

The council voted 8-0 in favor of amending the city's construction standards and engineering design criteria with changes in criteria on asphalt mixes, retaining walls, encroachment into private property by developers and soil protection adjacent to waterways.

All items on the consent agenda were approved.

Carol Cole 366-3538 ccole@normantranscript.com