'Canary in the coal mine': committee questions TIF district Feasibility" by Andrea Hancock, Norman Transcript, 5/7/2024.
Here are some excepts from the article.
"The oversight committee discussed recent economic impact studies with Anthony Francisco, the City of Norman’s finance director, and Kathryn Walker, the city attorney.
Four members of the committee were present, one short of quorum, so they could not officially issue any sort of formal recommendations to City Council. Still, they shared concerns with the economic impact studies they reviewed.
The first issue is there is no official project plan for the TIF district yet."
Another issue is the addition of land south of Rock Creek to the latest develop plan.
"Committee member Rob Norman, a business lawyer, characterized this as “the first canary in the coal mine” regarding the project’s feasibility.
He said the area south of Rock Creek is already well along its way, and the taxes brought in from its continued development should go to the city and county, not to finance the arena."
Other issues were raised.
Parking?
Impact on Lloyd Noble and businesses in rest of town?
How to protect city/county/school budgets from cannibalization?
Read more...
'Canary in the coal mine': committee questions TIF district feasibility | News | normantranscript.com
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