OU Foundation withdraws arena plans
NORMAN — The Norman City Council withdrew a resolution regarding the University North Park development at the request of the OU Foundation, effectively ending the foundation’s pursuit of tax increment financing for a proposed new arena district at this time.
“It is our request that you withdraw the TIF moving forward,” OU Foundation attorney Sean Rieger said during the council meeting. “This land doesn’t go away, it’s still the foundation’s land.
But the OU Foundation won’t seek to develop a proposed mixed-use entertainment district, featuring an arena to be used by OU athletics, under the current financial request. The OU Foundation sought assistance from the city of Norman to finance some development through a renewed TIF district, a plan that received pushback from members of the community and members of the city council.
“It is clear this process to go through to the statutory TIF committee is without consensus,” Rieger said. “We’re aware of that; it’s quite obvious.”
Norman City Council members received the request Tuesday afternoon from the OU Foundation to remove the resolution to consider the TIF financing. Several city councilors sought clarification from Rieger before voting to remove the item from the agenda.
“I want to make it perfectly
clear that I do not support this plan,” Ward 5 Council Member Sereta Wilson said.
Questions among council members arose about whether the council would see this same plan on an agenda in the near future.
“This is not a postponement; this is a withdrawal,”
Mayor Lynne Miller said.
Rieger explained to councilors the foundation still hopes to develop the land but will explore other options. The development could be reconfigured any number of ways both financially and in terms of what is included in the project.
The project in its current
stage called for a 500-acre, mixed-use development. University North Park is on the east side of Interstate 35 and is a continuation of the southern portion of the project between Rock Creek Road and Robinson Street, which is currently about 70 percent developed.
The northern project
was expected to include an expo center, hotel, recreational and restaurant venues, commercial offices and housing.
The OU Foundation has no timeline going forward about future development, Rieger said.