NORMAN — Plans for an entertainment district in north Norman will move forward, following City Council’s approval of a $600 million TIF to fund the project. At least 65 residents, signed up to speak during Tuesday’s meeting, which included both a public hearing, as well as consideration and vote on up to $600 million for two TIF districts in the University North Park area, located between West Rock Creek Road, I-35, West Tecumseh Road, and Max Westheimer Airport, includes residential, retail, office, commercial, a multi-purpose arena, parking garage, a hotel and a festival plaza. The arena, which the University of Oklahoma would occupy for about 30% of the year, anchors the development.
The first district, Norman TIF 4, would be a sales tax district, collecting the non-dedicated and capital improvement sales tax generated by the project starting May 1, 2025. The second district would be Norman TIF 5, an ad-valorem district, collecting 100% of the ad-valorem taxes generated by the project starting December 31, 2026. Lead Project Developer Danny Lovell, CEO of The Rainier Companies, said according to his estimates, the project will cost the city $51 million, which is being invested in the area.
Our estimate is that $54 million will come to the city from the dedicated portion of this project. We believe that there is a substantial offset,” Lovell said. Lovell said he’s seen different estimates, but bond investors, insurance companies, and public and private REITs believe their numbers check out.
He also said the TIF is the only way to get Leverage Act funds from the state, and the City of Norman is not at risk. The multi-purpose arena will be used by the University of Oklahoma for basketball and women’s gymnastics, effectively replacing Lloyd Noble Center. Lovell said the arena will be managed by one of the top arena builders and managers in the U.
S. A parking garage is situated near the arena. A 180-key hotel, 758 high-density units and 37 urban residential units are also in the plan.
After six hours, the council gave their final comments before voting on the project. Ward 4 Councilmember Helen Grant said she couldn’t vote for the project because of the lack of assurance that the jobs created would all pay a “living wage.” Ward 1 Councilmember Austin Ball said while the jobs may not pay six figures, there will be a mix of opportunities available for teenagers and adults.
Ball, Ward 2 Councilmember Matt Peacock, Ward 6 Councilmember Joshua Hinkle, Ward 8 Councilmember Scott Dixon and Norman Mayor Larry Heikkila voted in favor of the project. OU leadership and basketball and gymnastics coaches were among the many residents who spoke during the comment period. University Athletic Director Joe Castiglione said the district will offer an experience far beyond what they were previously able to provide fans.
“We are not in competition with Oklahoma City,” Castiglione said. “And as was mentioned earlier, the strategy behind the management of this facility, as well as the entertainment district, is to have that synergy between the two cities, so we can really bring some events here that maybe heretofore, we haven’t been able to attract.” University President Joseph Harroz Jr.
said the entertainment district is an opportunity to follow an established template of success. “I believe, for us as a university to be successful, it’s not just about those sports that are playing there, and it is vitally important we want the sports to be there, but to attract the best faculty, to attract the best students, to attract the best staff, they are going to go to places where you can have unique live, work, play experiences under this kind of a template,” Harroz said. “It’s about partnership.
There’s no chance we can do it alone.” OU Gymnastics Coach K.J.
Kindler said she’s seen the college athletics landscape change in her 19 seasons leading the program. She said the district and arena presents an opportunity for exposure, not just for the university, but for the City of Norman. “Our SEC opponents will be visiting town, and I can tell you this as well, they will help us recruit when they come to Norman and they see that area, they’re going to go home and say, ‘that is beautiful.
That is amazing. And they will spread the word,’” Kindler said..
