Oklahoma City Economic Development

AGENDA August 30, 2022 3:00 PM TRUST MEMBERS Todd Stone, Chair Rhonda Hooper, Vice Chair Maurianna Adams Mark K. Stonecipher Miriam Campos Craig Freeman, General Manager Kenton Tsoodle, Surrogate General Manager Amy K. Simpson, Secretary Wiley Williams, Deputy Municipal Counselor 200 N. Walker, 3rd Floor, Council Chamber INFORMATION ABOUT OCEDT TRUST MEETINGS The Oklahoma City Economic Development Trust (OCEDT) generally meets on a monthly basis in the  INFORMATION ABOUT OCEDT TRUST MEETINGS The Oklahoma City Economic Development Trust (OCEDT) generally meets on a monthly basis in the Council Chamber at City Hall unless prior notice of a change is posted. If Council or another City Trust is in session, the OCEDT meeting will be held in the Executive Conference room (same floor). To confirm meeting dates, call (405) 297­2245. Free parking is available at the Sheridan­Walker Parking Garage (501 West Sheridan). Parking tickets must be validated in the Mayor’s/City Manager’s reception area. The following guidelines are in place for meetings in the Council Chamber at City Hall: only the south entrance to City Hall will be open; air purifying machines have been installed in the Chamber; hand sanitizer machines and disposable face masks will be available. It is the policy of the City to ensure that communications with participants and members of the public with disabilities are as effective as communications with others. Anyone with a disability who requires an accommodation, a modification of policies or procedures, or an auxiliary aid or server in order to participate in this meeting should contact the ADA department coordinator at 297­2506 or TDD 297­ 2020 as soon as possible but not later than 48 hours (not including weekends or holidays) before the scheduled meeting. The department will give primary consideration to the choice of auxiliary aid or service requested by the individual with disability. If you need an alternate format of the agenda or any information provided at said meeting, please contact the ADA department coordinator listed above 48 hours prior to the scheduled meeting. Addressing the Trust Citizens may address the Trust on certain items by signing up to speak and providing the agenda item number, their reason for appearing and their address, but all comments must be relevant to the item. The Chair or presiding officer may in her or his discretion prohibit a person from addressing the Trust, or have any person removed from the Council Chamber, if that person commits any disorderly or disruptive behavior. Disorderly conduct includes, but is not limited to, any of the following: speaking without being recognized by the Chair or presiding officer; continuing to speak after notice that the speaker’s allotted time has expired; presenting comments or material not relevant to the item under discussion; failing to comply with the lawful instructions of the Chair or presiding officer; engaging in other conduct, activity or speech that delays, pursuant to 21 O.S. §280, disruptive conduct includes any conduct that is “violent, threatening, abusive, obscene or jeopardes the safety of self or others”. A person may also be subject to arrest and removal from the Municipal Building for violation of Oklahoma City Municipal Code 2020, § 30­81 – Disorderly conduct and/or violation of Okla. Stat. tit. 21, §280­ Willfully Disturbing, Interfering With or Disrupting State Business, Agency Operations or Employees. Citizens may also address the Trust on individual concerns at the end of the agenda when the Chair asks if there are any comments by citizens. Comments should concern OCEDT matters. Please fill out a “Request to be Heard” form located outside the Chambers. Please return this form to the staff member at the table in front of the horseshoe. PLEASE LIMIT YOUR COMMENTS TO 3 MINUTES. Continuing to speak beyond the time allowed by the Chair or presiding officer shall constitute grounds for removal from the Council Chamber. If you know in advance that you wish to address the Trust, you may call 297­2245 and provide your name and subject about which you wish to speak. Trust Actions Official action can be taken only on items that appear on the agenda. The Trust may dispose of business  Trust Actions Official action can be taken only on items that appear on the agenda. The Trust may dispose of business on the agenda by adopting, approving, amending, correcting, ratifying, denying, deferring or continuing resolutions, plans and specifications, addenda, amendments and contracts. Other actions may also be taken. When more information is needed to act on an item, the Trust may refer items to the General Manager or the Municipal Counselor. The Trust may also refer items to committees of the Trust, to a board or commission, or to independent consultants for additional study. Under certain circumstances, items are deferred to a specific later date or stricken from the agenda entirely. Television Coverage Oklahoma City Economic Development Trust meetings can be watched live on Cox Cable Channel 20. Oklahoma City Economic Development Trust August 30, 2022 3:00 PM  Oklahoma City Economic Development Trust August 30, 2022 3:00 PM Council Chamber, Third Floor, Municipal Building, 200 N. Walker, Oklahoma City, Oklahoma I. Call to Order II. Approval of Minutes July 19, 2022 Oklahoma City Economic Development Trust Meeting III. Ratify OCEDT Claims IV. Items for Individual Consideration A. Oklahoma City Economic Development Foundation FY22 4th Quarter Report. (GEN­ED) B. Professional Services Agreement with the Oklahoma City Economic Development Foundation, to provide services relating to the establishment of the Oklahoma City Film & Creative Industries Office, not to exceed $750,000, July 1, 2022 through June 30, 2025. C. Amendment No. 2 to Contract for Architectural Services with ADG, P.C., Project MB­1540, Myriad Gardens Crystal Bridge Renovation, 301 West Reno Avenue, fee increase of $5,900. Ward 6. D. Amendment No. 1 to the Villa Teresa Hotel and Residential Redevelopment Project Economic Development Agreement (TIF). E. Acceptance of Correction Quit Claim Deed from the Oklahoma Department of Transportation in the vicinity of Shields Boulevard between SW 3rd Street and SW 4th Street and authorize the General Manager or designee to negotiate a transfer of this and related property owned by the Trust to OCURA for redevelopment related to the Boulevard Place Apartment Project. (GEN­ED) F. Approval of Real Estate Acquisition Agreement between the Oklahoma City Economic Development Trust (“Trust”) and the Oklahoma City Urban Renewal Authority (“OCURA”) approving the transfer of Trust­owned property in the vicinity of Shields Blvd. between SW 3rd and SW 4th Streets to OCURA. G. Resolution of the Oklahoma City Economic Development Trust (“Trust”) rescinding approval of the July 20, 2021, Joint Resolution between The City of Oklahoma City and the Oklahoma City Economic Development Trust approving the allocation of General Obligation Limited Tax Bond proceeds and/or investment proceeds for Phase 1 of the Creston Park Neighborhood Affordable Housing Project. (GOLT) H. Joint Resolution of the Oklahoma City Economic Development Trust and The City of Oklahoma City approving the allocation of General Obligation Limited Tax Bond proceeds and/or investment proceeds in an amount of $1,250,000 to provide an economic development incentive to the Community Enhancement Corporation and the Oklahoma City Housing Authority for Phase I of the three phase Creston Park Neighborhood Affordable Housing Project, which will provide for the expansion of affordable housing opportunities in Oklahoma City; and authorizing and directing the General Manager and/or designee to negotiate an Economic Development Agreement with the Community Enhancement Corporation for subsequent Trust consideration and approval. (GOLT­AH) I. Economic Development Agreement (“EDA”) by and among the Oklahoma City Economic Development Trust, ThreeYetMany, LLC (“Developer”) for assistance  and authorizing and directing the General Manager and/or designee to negotiate an Economic Development Agreement with the Community Enhancement Corporation for subsequent Trust consideration and approval. (GOLT­AH) I. Economic Development Agreement (“EDA”) by and among the Oklahoma City Economic Development Trust, ThreeYetMany, LLC (“Developer”) for assistance in development financing in support of the Hamlin Hotel Project (“Project”) located at 1721 NE 23rd Street, which project contemplates investment of approximately $26,000,000 toward the construction of a new 77­room boutique hotel and event space with a commercial kitchen and bar, swimming pool and micro­retail incubator space, not to exceed $3,880,000. (TIF) J. Joint Resolution between The City of Oklahoma City and the Oklahoma City Economic Development Trust approving the allocation of General Obligation Limited Tax Bond (“GOLT”) proceeds and/or GOLT investment proceeds in an amount of $2,000,000, to provide for certain community development incentives for the Fairgrounds Flats Affordable Housing Project (“Fairgrounds Flats Project”) consisting of a new 216­unit affordable housing complex at General Pershing Boulevard and May Avenue, which will result in a total capital investment of approximately $47,000,000; and authorizing and directing the Trust General Manager and/or designee to negotiate an Economic Development Agreement with TWG Development (“Developer”). K. Joint Resolution of The City of Oklahoma City (“City”) and the Oklahoma City Economic Development Trust (“Trust”), approving an allocation not to exceed $2,010,000, from Increment District No. 2, City of Oklahoma City, Residential Development budget category in the Amended and Restated Downtown/MAPS Economic Development Project Plan (“Project Plan”), to the Oklahoma City Utilities Department for public sanitary sewer line improvements in the area bounded by NW 6th Street, North Shartel Avenue, West Sheridan Avenue and North Western Avenue, which are necessary to support residential development within the Project Plan area. L. Joint Resolution of The City of Oklahoma City (“City”) and Oklahoma City Economic Development Trust (“Trust”), approving an allocation not to exceed $1,080,000, from Increment District No. 2, City of Oklahoma City, Commercial/Hotel Budget Category in the Amended and Restated Downtown/MAPS Economic Development Project Plan (“Project Plan”), in support of the Citizen Project located on the northeast corner of NW 5th and Robinson, which Project consists of the investment of approximately $70,000,000 toward the construction of a mixed use 12­story office tower with retail, dining and hospitality venues, by JRB Citizen, LLC (“Developer”); and Authorize the Trust General Manager to negotiate an Economic Development Agreement with the Developer. M. Joint Resolution of The City of Oklahoma City (“City”) and Oklahoma City Economic Development Trust (“Trust”), approving an allocation not to exceed $765,000, from Increment District No. 2, City of Oklahoma City, Commercial/Hotel Budget category in the Amended and Restated Downtown/MAPS Economic Development Project Plan (“Project Plan”), in support of the Nova Project located in Automobile Alley just west of the BNSF Railroad between NW 6th Street and NW 7th Street, which project consists of the investment of approximately $24,000,000 toward the construction of a full­ service downtown grocery store, 20 urban­industrial apartments with parking garage and rooftop greenhouse, by 1 NW 6th Street, LLC (“Developer”). N. Joint Resolution of The City of Oklahoma City and the Oklahoma City Economic Development Trust approving an allocation in a total amount not to exceed $16,000,000 from Increment District No. 2, City of Oklahoma City, consisting of an amount not to exceed $9,600,000 from the Residential Development budget category and an amount not to exceed $6,400,000 from the Hotels/Commercial Development budget category of the Amended and Restated Downtown/MAPS Economic Development Project Plan , in support of underground infrastructure for the “Strawberry Fields” project in the area generally bounded by Oklahoma City Boulevard to the north, Hudson Avenue to the east, SW 7th Street to the south, and Shartel Avenue to the west, which project consists of the investment of  service downtown grocery store, 20 urban­industrial apartments with parking garage and rooftop greenhouse, by 1 NW 6th Street, LLC (“Developer”). N. Joint Resolution of The City of Oklahoma City and the Oklahoma City Economic Development Trust approving an allocation in a total amount not to exceed $16,000,000 from Increment District No. 2, City of Oklahoma City, consisting of an amount not to exceed $9,600,000 from the Residential Development budget category and an amount not to exceed $6,400,000 from the Hotels/Commercial Development budget category of the Amended and Restated Downtown/MAPS Economic Development Project Plan , in support of underground infrastructure for the “Strawberry Fields” project in the area generally bounded by Oklahoma City Boulevard to the north, Hudson Avenue to the east, SW 7th Street to the south, and Shartel Avenue to the west, which project consists of the investment of approximately $1,500,000,000 toward the construction of a mixed­use urban neighborhood; and directing the General Manager or designee to negotiate an Economic Development Agreement with the Project Developer for subsequent Trust consideration and concurrence by the City Council. V. General Manager Reports VI. Comments from Staff, Trustees and Citizens VII. Adjourn