Norman council continues review of Griffin TIF master plan as consultants update development estimates

City staff resumed discussion of a proposed tax increment finance master plan for the Griffin property, a large project area north of downtown Norman, at a regularly scheduled Norman City Council meeting; Miss Walker, a staff member, presented updated concepts and estimates.

Miss Walker said the proposal envisions a single large project area split into three increment districts, with boundaries that extend north to Rock Creek Road, include Andrews Park and parts of the Center City footprint, and extend south past Split Avenue and over the railroad tracks. "This proposal is a large project area, with 3 increment districts within it," Miss Walker said.

The council heard updated development concepts from RDG that staff used to rework earlier, older assumptions. Miss Walker summarized two preferred concepts: one that included roughly 269 small-lot single-family units, 567 three-story "walk-up" units and about 740 multifamily units in RDG's concept 2, and a concept 3 that showed roughly 242 single-family units, 849 three-story walk-ups and 600 multifamily units. Using conservative construction and phasing assumptions, staff said buildout could translate into roughly $200 million–$250 million in new development over a 25-year horizon and that an updated estimate of increment generation could reach "maybe up to…