Title
PUBLIC HEARING REGARDING THE FIRST OF TWO PUBLIC HEARINGS REGARDING THE PROPOSED NORMAN CENTER CITY PROJECT PLAN AND TAX INCREMENT FINANCE DISTRICT LOCATED GENERALLY WITHIN THE BOUNDARIES OF TONHAWA STREET ON THE NORTH, THE RAILROAD TRACKS ON THE EAST, BOYD ON THE SOUTH, AND ON THE WEST: THE ALLEY EAST OF ELM AVENUE NORTH TO PARK DRIVE, THEN WEST ALONG COMANCHE STREET TO FLOOD AVENUE, THEN NORTH TO MAIN STREET, AS MORE PARTICULARLY DESCRIBED IN PROPOSED ORDINANCE O-1718-27; SAID FIRST PUBLIC HEARING TO BE HELD ON DECEMBER 5, 2017 AT 6:30 PM FOR THE PURPOSES OF PROVIDING INFORMATION, INCLUDING AN ANALYSIS OF POTENTIAL POSITIVE OR NEGATIVE IMPACTS, AND ANSWERING QUESTIONS REGARDING THE PROPOSED NORMAN CENTER CITY PROJECT PLAN AND INCREMENT DISTRICT NO. 3, CITY OF NORMAN, WITH THE SECOND PUBLIC HEARING TO BE HELD ON DECEMBER 19, 2017 AT 6:30 PM FOR THE PURPOSE OF GIVING MEMBERS OF THE PUBLIC AN OPPORTUNITY TO BE HEARD PRIOR TO ANY VOTE ON THE PROPOSED NORMAN CENTER CITY PROJECT PLAN, INCLUDING INCREMENT DISTRICT NO. 3, CITY OF NORMAN.
Body
BACKGROUND: The Center City Form Based Code ("CCFBC") was adopted by the City Council at its meeting on May 23, 2017. Prior to the adoption of the CCFBC, Council received several presentations on Tax Increment Financing (TIF), as well as analysis on infrastructure needs and development potential in Center City. Also on May 23, 2017, the City Council approved a resolution appointing a Review Committee to consider and make its findings with respect to conditions establishing eligibility of a TIF district in the Center City area and financial impacts of a TIF district on the affected taxing jurisdictions and business activities, and to make its recommendation to City Council regarding the creation of a TIF district and approval of a project plan under the Oklahoma Local Development Act ("Act"). At its August 29, 2017 Study Session, City Council was presented with a draft of the Norman Center City Project Plan ("Project Pla...
Click here for full text