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CONTRACT K-2021-99: A MEMORANDUM OF UNDERSTANDING FOR THE NORMAN FORWARD MULTI-SPORT AND INDOOR AQUATIC FACILITY BY AND BETWEEN THE CITY OF NORMAN, THE NORMAN MUNICIPAL AUTHORITY, THE NORMAN TAX INCREMENT FINANCE AUTHORITY, AND THE NORMAN REGIONAL HOSPITAL AUTHORITY FOR THE PURPOSE OF DEVELOPING A CONTRACTUAL RELATIONSHIP RELATED TO CONSTRUCTION FUNDING AND SEPARATE OPERATION OF THE SPORTS AND HUMAN PERFORMANCE CENTER.
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BACKGROUND: The original Norman Forward sales tax package approved by the voters in 2015 included a number of quality of life projects, including a multi-sport facility, envisioned to accommodate indoor sports including, but not limited to, basketball and volleyball, and an indoor aquatics facility. A total of $22.5 million in Norman Forward sales tax was allocated to these projects. After exploring a number of locations for these facilities, City Council/Norman Tax Increment Finance Authority approved an agreement in November 2019 to locate these facilities in University North Park.
An ad hoc committee was appointed in June 2019 by Council for the Indoor Aquatic/Multi-Sport projects which worked closely with the project architect to develop plans for the facility. Like several other Norman Forward projects, the funding provided by the dedicated sales tax was insufficient to complete the facilities as envisioned by the Ad Hoc Committee.
Contract K-1920-82 and the 2019 Amended University North Park Tax Increment Finance District Project Plan ("UNP TIF", adopted by Ordinance O-1920-24) called for the Indoor Aquatic/Multi-Sport projects (the "Recreation Facility") to be located in University North Park and set forth the purchase price for up to 12 acres of land for the projects. It also allocated TIF funds for the purchase of the property and $2.7 million for construction enhancement. Contract K-1920-82, adopted on November 26, 2019, set out timelines for site identification, purchase and construction based on the best information av...
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