There will be two public hearings held in September regarding the University North Park Entertainment District project plan and the proposed increment finance districts.
According to a public hearing notice on the city of Norman website, the meetings will take place on Sept. 3 and Sept. 17 at 6:30 p.m. in the city council chambers.
The first meeting will provide residents with project analysis of potential positive or negative impacts of the entertainment district. The second meeting will give Norman residents the ability to express their opinions on the matter prior to any vote.
The $1 billion entertainment district, proposed in September 2023, is intended to include an arena to replace Lloyd Noble Center, as well as the creation of a public plaza, hotel, retail and office spaces.
The district is meant to be split into two tax increment finance, or TIF, districts. A TIF is a public financing tool meant to support redevelopment and community improvements by stimulating private investment, and will serve as the method to finance the entertainment district.
Ward 4 Councilmember Helen Grant said the entertainment district is extremely unpopular in Ward 4, with many residents fearing the potential of rising housing costs and job insecurity.
“Many of us have stated that we don’t want to see this be a community of renters,” Grant said. “I hope to see the things that we’ve been pushing for as a council, like living wage jobs, affordable housing, workforce housing, housing ownership opportunities.”
Phases of construction for the proposed University North Park entertainment district project.
The entertainment district would have over 1000 residential units, as well as commercial and retail spaces such as restaurants, bars and a parking garage. What would serve as OU’s new basketball arena would also be a multi-purpose venue to hold other sports activities, concerts, and performances.
The Norman planning commission approved the plans for the entertainment district in June. The Norman City Council later approved a special election to take place in August, which was later dismissed due to a lawsuit filed by former Norman mayors Bill Nations and Dick Reynolds.
The first TIF district would begin on May 1, 2025 and would use sales or use tax. The second TIF would begin on Dec. 31, 2026 and would use ad valorem tax.
Grant said working with the developers behind the entertainment district has been a “process” and said they hope what is outlined in the project plan are the same objectives of the developers.
Grant said more details regarding renting, jobs and housing will be discussed during the public meetings.
This story was edited by Ana Barboza, Anusha Fathepure and Peggy Dodd. Andrew Paredes and Avery Avery copy edited this story.
