Development Oversight Committee for TIF District No. 2 Meeting

TlF #2 OVERSIGHT COMMITTEE MINUTES (UNIVERSITY NORTH PARK TIF) Executive Conference Room 201 WEST GRAY 1:30P.M. November 20, 2018 The Tax Increment Finance District #2 - University North Park ("UNP TIF') Citizen's Oversight Committee met at I :30 p.m. in the Municipal Building Executive Conference Room on the 20th day ofNovember, 2018. PRESENT: Chair Fred Walden, Greg Burge, William Wilson, Janese Shepard, Anthony McBride, Paula Price, and Chris Dragg ABSENT: Dr. Nick Migliorino and Ted Smith OTHERS PRESENT: Robert Castleberry, City Council Member Mary Rupp, Interim City Manager Anthony Francisco, Finance Director Clint Mercer, Chief Accountant Sara Kaplan, Retail Marketing Coordinator Jeff Bryant, City Attorney Cynthia Rogers, Citizen Item 1, being APPROVAL OF MINUTES FROM October 16, 2018 The meeting was called to order at 1:34 pm by Chair Walden. Walden declared a quorum and a motion was made by Member Burge to approve the minutes, which was seconded by Member Wilson. The motion was unanimously approved. Items Submitted for the record: 1. Minutes from October 16, 2018 meeting •••••• TIF #2 Oversight Committee November20, 2018 Pagcl2 Item 2, being: DISCUSSION AND POSSIBLE ACTION ON MEETING SCHEDULE FOR 2019 A motion to accept the schedule as presented was made by Member Dragg and seconded by Member Wilson. The motion was unanimously approved. Items Submitted for the record: 1. Draft Meeting Schedule 2019 ••••• Item 3. being: UPDATE AND POSSIBLE ACTION ON NEW BUSINESSES AND ONGOINO PROJECTS Anthony Francisco stated that the City Council approved the resolution that directs the Statutory Review Committee to meet and consider the tax apportionment to the UNP TIF. They are to discuss ways of ending the TIF. Chair Walden stated that the Statutory Committee was given a deadline of 30 days to come up with a recommendation. Jeff Bryant stated that the Council wanted to work towards ending both the sales tax increment and the property tax portion of the TIF. Member Shepard asked how this direction affects the school districts and the projects that have yet to be fimded. Francisco stated that we could reduce the authorized projects to what funds are on-hand or we could return some of the cash to the taxing jurisdictions. The Council also directed that the Norman Public School District (NPS) be made whole by some means, possibly by fully funding the school resource program. Member Dragg stated that the City should not move to end the TIF until we consider the ramifications of ending the TIF and breaching our contracts. Bryant stated that as long as Council tries to fulfill the obligations in the contracts, then he does not believe it is breach of contract. Ending the TIF takes away a revenue stream meant to fulfill those contracts, but ending the TIF does not breach contract Francisco stated that if the incremental sales tax revenue is returned to the Capital Improvements Fund, then we could have the money needed to fulfill the obligations to the contract. Member McBride stated that there are more ways besides a TIF to incentivize retailers to move to Norman. We need to decide what the best type of growth for Nonnan is. Member Dragg made a motion to remove the Cultmal Center from the UNP TIF budget documents, keep the original funding for the Lifestyle Facility intact, make the sales tax apportionment 95% to TIF #2 Oversight Committee November 20, 2018 Pagep the City and 5% to the UNP TIF, keep all NPS ad valorem taxes at the same rate of 50/50, and get rid of all other taxing jurisdictions apportionments. There was no second to the motion. Member Dragg believes that we need to let the UNP TIF run its course since we are only 2 Yi years away from fully funding all projects. Member McBride made a motion to make sure all ramifications of ending the UNP TlF are identified and there is a contingency plan to address each ramification. Member Dragg seconded the motion, and the motion was passed unanimously. Francisco stated that the Americans with Disabilities Act (ADA) parking lot options in Legacy Park was forwarded to Council on May 15, 2018. ••••• Item 4, being: FINANCIAL REPORTS No Discussion ••••• Item 5, being: MISCELLANEOUS COMMENTS No Discussion ••••• Item 6, being: ADJOURN A motion was made by Member Dragg and seconded by Member Price to adjourn the meeting. The motion passed unanimously and the meeting adjourned at 2:24 pm. '