Norman Forward Citizens Financial Oversight Board Meeting

NORMAN FORWARD CITIZENS FINANCIAL OVERSIGHT BOARD MINUTES February 11, 2019 The Norman Forward Citizens Financial Oversight Board (CFOB) of the City of Norman, Cleveland County, State of Oklahoma, met at 3:30 p.m. in the Multi-Purpose Room on the 11th day of February, 2019. Notice and agenda of the meeting were posted in the Municipal Building at 201 West Gray and the Norman Public Library at 225 North Webster 24 hours prior to the beginning of the meeting. PRESENT: Members MacKenzie Britt, Andy Rieger, Chair Bill Nations, Saidy Orellana, and Andy Paden ABSENT: Members Bree Montoya, Tom Sherman, Linda Price, and Cynthia Rogers OTHERS PRESENT: Anthony Francisco, Finance Director Jud Foster, Director of Parks and Recreation Terry Floyd, Development Coordinator Bill Harrell, ADG CALL TO ORDER AND ROLL CALL Chair Nations called the meeting to order at 3:35 pm. A quorum was present. ****** ITEM 1, being APPROVE MINUTES FROM DECEMBER 10, 2018 MEETING After review and discussion of minutes of December 10, 2018 meeting, Member Britt made a motion and Member Paden seconded that motion to approve the minutes. Motion passed unanimously. Items submitted for the record: Norman Forward Citizens Financial Oversight Board Minutes February 11, 2019 Page 2 1. Norman Forward Citizens Financial Oversight Board Minutes December 10, 2018. ****** ITEM 2, being DISCUSSION OF FINANCE REPORTS-FINANCE DEPARTMENT Anthony Francisco gave the presentation. He stated that the East Branch Library and the Westwood Aquatic Park expenditures are final expenditures for the projects. The East Branch Library project came in about $380,000 below budget, and the Westwood Aquatic project came in about $360,000 below budget. We are now about 3.65% below fiscal year target in sales tax collection, and 9.25% below the original projections. Use tax continues to be well above budget and our original projections. Taking the sales tax and use tax collections together, we are 1.81% below fiscal year combined collections, and 5.8% below our original projections. Items submitted for the record: 1. Norman Forward Expenditure Report 2. Norman Forward Sales Tax Revenue Report 3. Norman Forward Sales Tax Fund Annual Sales/Use Tax Growth Factor (FYE 2019) 4. Norman Forward Sales Tax Fund Annual Sales/Use Tax Growth Factor (FYE 2019- 2031) 5. Norman Forward Sales Tax, Versus Projection ****** ITEM 3, being REVIEW AND POSSIBLE ACTION ON UPDATED PRO FORMA PROJECTIONS Francisco stated that there is now a projected $7.6 million budget for the Senior Center on a pay- as-you-go basis over the next 3 years thanks to the money freed up from the lease of the Griffin Park land. We now project that Norman Forward will go negative in about fiscal year 2028 and will end with about $780,000 in the red. This will have to be made up somewhere. This budget Norman Forward Citizens Financial Oversight Board Minutes February 11, 2019 Page 3 also assumes that we don’t get any federal money for the James Garner project, but we do hope this happens as it will improve our picture by about $3 million. ****** ITEM 4, being DISCUSSION OF PREVIOUSLY-APPROVED COUNCIL ACTIONS AND POSSIBLE ACTION Francisco stated that the Memorandum of Understanding for the purchase of land south of Lexington Avenue is for the proposal to build the Senior Center, Indoor Aquatic Center, and the Indoor Sport Facility. We had thought that the University would donate the land, but that has changed with the change of administration in the University. We now have to purchase this land at market value, which is about $2.5 million. We propose to purchase the land upfront out of Norman Forward funds since this money is on-hand, and reimburse that money out of the University North Park TIF funds. Jud Foster stated that we are currently working on a visioning session in the middle of March to begin a public conversation about what people are looking for in a Senior Center. Francisco stated that Council and Staff do not currently have a backup plan if the UNP TIF money is decided cannot be used for the purchase of this land. The Committee unanimously agreed to endorse the proposed concept for the purchase of the land south of Lexington with the money coming from the Norman Forward Fund and then being reimbursed out of the UNP TIF Fund. Member Paden agreed to help with the draft of a letter to City Council for the Committee’s recommendation. Items submitted for the record: 1. K-1617-68 Final Acceptance and Payment of Contract K-1647-68 for Norman East Branch Library Project 2. AP-1819-6 Consideration of the Mayor’s Appointments 3. K-1819-104 A Memorandum of Understanding for the Purchase of Land South of Lexington Ave for Norman Forward Projects 4. R-1819-72 Resolution requesting the University North Park Project Plan Statutory Tax Increment Finance District Review Committee consider a Proposal to declare a Multi- Generation Recreational Complex Norman Forward Citizens Financial Oversight Board Minutes February 11, 2019 Page 4 ****** ITEM 5, being AD HOC COMMITTEE LIAISON REPORTS Foster stated that the Ruby Grant project will have the construction documents completed in the next 4-6 weeks and is almost ready to be sent out to bid. We will also be doing a fundraising campaign for part of the playground equipment in order to purchase more equipment to help children with special needs. Construction will begin this summer and is anticipated to take a year. Foster stated that the Westwood Tennis project has the building up and is now working on the interior. Once that is complete, they will be working on the court surface. We believe it will be completed the first week of April. Foster stated that Reaves Park construction documents will be completed in another month or two, and then the first phase of the project will be ready to bid. Foster stated that the Griffin Park project has the RFQ out to bid, and the plans are underway for the next phase. This is the southwest corner where the old football fields used to be. We will regrade that area and build a restroom and plaza area there. Foster stated that the Indoor Aquatic and Sports project cannot move forward until the land purchase is completed. Terry Floyd stated that the art piece for the Central Library has been started and the furniture has been ordered and will be arriving soon. There will be significant progress in the next few months. ****** ITEM 6, being DISCUSSION OF PROJECT STATUS-PROJECT MANAGERS None at this time. ****** Norman Forward Citizens Financial Oversight Board Minutes February 11, 2019 Page 5 ITEM 7, being MISCELLANEOUS DISCUSSION Francisco congratulated Jud Foster on 40 years’ service at the City of Norman. ****** ITEM 8, being ESTABLISHMENT OF FUTURE MEETING TIME(S) The next meeting of the Norman Forward Citizen’s Financial Oversight Board will be on April 8, 2019 at 3:30 pm. ****** ITEM 9, being ADJOURNMENT Member Rieger made a motion to adjourn. The motion was seconded by Chair Nations. The motion passed unanimously and the meeting adjourned.