Development Oversight Committee for TIF District No. 2 Meeting

TIF #2 OVERSIGHT COMMITTEE MINUTES (UNIVERSITY NORTH PARK TIF) Executive Conference Room 201 WEST GRAY 1:30 P.M. July 18, 2017 The Tax Increment Financing District #2 – University North Park (‘UNP TIF”) Oversight Committee met at 1:30 p.m. in the Municipal Building Study Session Room on the 18th day of July, 2017. PRESENT: Chair Fred Walden, Janese Shepard, Chris Dragg, and Ted Smith ABSENT: William Wilson and Greg Burge OTHERS PRESENT: Dr. Nic Migliorino, NPS Kyle Allison, City Council Member Jeff Bryant, City Attorney Anthony Francisco, Finance Director Clint Mercer, Chief Accountant Suzanne Krohmer, Budget Manager Sara Kaplan, Retail Marketing Coordinator Jud Foster, Director of Parks and Recreation Mack Burke, Norman Transcript Dr. Stephen Ellis, Citizen Dr. Cynthia Rogers, Citizen Item 1, being APPROVAL OF MINUTES FROM MARCH 21, 2017 AND JUNE 20, 2017 The meeting was called to order by Chair Walden at approximately 1:36 p.m. Walden declared a quorum after a motion was made by Member Dragg and was seconded by Member Smith. The motion was unanimously approved. Member Smith made a motion to approve the minutes from March 21 and June 20, 2017. Member Dragg seconded the motion which was then approved unanimously. ****** Item 2, being: TIF #2 Oversight Committee July 18, 2017 Page | 2 CONTINUED DISCUSSION AND POSSIBLE ACTION ON LOAN MADE TO NDEC FOR ECONOMIC DEVELOPMENT Member Smith asked if the City of Norman has a loan document from NDEC and how we would be getting our money back from NDEC. Francisco stated that there is an agreement between the City and NDEC, but Member Smith thinks there should be a written agreement between the two that specifically states that NDEC will pay back the money it has borrowed from the City. Francisco stated that this is written in development agreement #6. ***** Item 3, being: DISCUSSION AND POSSIBLE ACTION OF LEGACY PARK ISSUES Member Dragg asked what we are going to do to stop the water in the fountain from going septic and what the maintenance schedule is. Jud Foster stated that the trash will be picked up twice a day everyday by a contracted company. Most of the time this contracted service does a good job, but sometimes they do not. As far as the smell in the water, there are water aerators built in to keep the water flowing. Member Dragg asked if we have put chlorine in the fountain. Foster stated that we have not, but if it gets bad enough we could consider this. Foster also stated that our contractor will be coming in to paint the railings and we have hired a mason to repair the stone on the stores. We are asking the contractor to take care of the charges for these repairs. Chair Walden stated that he uses Turn Pro Aquatics to treat his ponds and that he would share the business’ information and we should check to see if we would like to use his services on this fountain. ***** Item 4, being: DISCUSSION AND CONSIDERATION OF ANNUAL REPORT Francisco stated that he has given out a draft of the annual report which the Committee can accept or make changes to. Member Smith made a motion to accept the annual report with two changes to the names (Dr. Siano and Krystyn Richardson were still on the Committee, so their names will be added back to the report). Member Shepard seconded the motion. The motion passed unanimously. ***** TIF #2 Oversight Committee July 18, 2017 Page | 3 Item 5, being: FINANCIAL REPORTS Francisco stated that the biggest change to the balance in FYE 2017 was the loan payoff. Member Dragg stated that he feels we should pay off the TIF loan. Member Smith asked what projects were remaining. Francisco stated the remaining authorized projects were the Lifestyle Center and the Cultural Center. Member Smith made a motion to pay the principal of the loan completely and Member Dragg seconded the motion. The motion passed unanimously. ***** Item 6, being: MISCELLANEOUS COMMENTS None ***** The committee adjourned at approximately 2:10 p.m.