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RESOLUTION R-2021-112: A RESOLUTION OF THE TRUSTEES OF THE NORMAN TAX INCREMENT FINANCE AUTHORITY APPROPRIATING $104,900 FROM THE TAX INCREMENT FINANCE FUND BALANCE TO FUND VARIOUS MAINTENANCE REPAIRS AT LEGACY PARK IN UNIVERSITY NORTH PARK.
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BACKGROUND: The construction of Legacy Park was completed in September of 2015. The park includes an amphitheater stage, cover and seating area, a one-acre pond with LED lights and fountains, a promenade walk around the pond, a restroom building, parking area and extensive landscaping, irrigation and park lighting. The fountain and light components operate in a harsh aquatic environment and require periodic repair or replacement.
Beginning in 2014, a maintenance fund was established in the amount of $200,000 per year for the purpose of providing landscape and restroom maintenance services, along with other necessary repairs at the park. Both the Norman Tax Increment Finance Authority (NTIFA) and the University North Park (UNP) Business Improvement District ("BID", the UNP property owners) contribute to this fund, with the NTIFA contribution decreasing $25,000 per year and the UNP property owner's portion increasing $25,000 per year. The fund has a sufficient balance to address the current repair needs at the Park.
On December 11, 2018, City Council, at the recommendation of the UNP BID Board, approved an appropriation of $121,980 from BID funds for various repairs at the Park. Some of that work was completed, with some items still remaining to be done. $66,463 of that appropriation was returned to the UNP TIF Fund balance and reserved for BID purposes.
On November 26, 2019, NTIFA/City Council at the recommendation of the UNP BID Board, approved an appropriation of $20,400 for an annual fountain and lighting maintenance contract with Sunbelt Pools. It has been determined that due to the age and condition of the lighting and fountain equipment, Sunbelt Pools is not able to provide adequate service for ...
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