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RESOLUTION R-1819-16: A RESOLUTION OF THE NORMAN TAX INCREMENT FINANCE AUTHORITY APPROPRIATING $35,000 FROM ACCUMULATED UNIVERSITY NORTH PARK (UNP) TAX INCREMENT FINANCING DISTRICT (TIF) REVENUES FOR THE PURPOSE OF FUNDING AN ECONOMIC IMPACT ANALYSIS AND FISCAL IMPACT ANALYSIS TO BE PERFORMED BY HVS CONVENTION, SPORTS, & ENTERTAINMENT FACILITIES CONSULTING ("HVS") AND AN ADDITIONAL $25,000 FROM ACCUMULATED UNP TIF REVENUES FOR THE PURPOSE OF COMPENSATING HVS FOR WORK PERFORMED TO REVIEW VARIOUS REPORTS AND STUDIES REGARDING AN ENTERTAINMENT DISTRICT PROPOSAL AT THE UNP PROJECT, TOGETHER TOTALING $60,000.
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BACKGROUND: The University North Park Tax Increment Finance District Project Plan (City of Norman TIF #2; UNP TIF) was approved by the City Council on May 23, 2006 (Ordinance 0506-66). This Project Plan Ordinance was amended on August 26, 2008 (Ordinance 0809-8). A proposed Amended and Restated University North Park Project Plan ("Project Plan") has been prepared based on input received from Council members, City Staff, the City's financial advisors, and representatives of the affected ad valorem taxing jurisdictions.
The University North Park Planned Unit Development (UNP PUD) was approved by the City Council on August 27, 2002 (Ordinance 0203-2), and amended on December 12, 2006 (Ordinance 0607-13). This PUD placed general limits on the intensity of land uses in various parts of the UNP development. A jointly-funded master plan for updated land uses in University North Park was presented to Council in 2017. The "CallisonRTKL Master Plan" has been reviewed and the amended zoning allowing an additional seven percent (7%) commercial use of the University North Park Planned Unit Development (UNP PUD) was approved by the Planning Commission on June 6, 2018, by a vote of 5-1. The proposed UNP PUD amendment (Ordinance 1718-15) was on the Council Agenda for first reading on June 26, 2018 and was scheduled to be on second and final reading for July...
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