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Norman tax-increment authority postpones Rock Creek phasing-plan vote amid legal challenge and public objections
Summary
The Norman Tax Increment Finance Authority postponed consideration of the Rock Creek Entertainment District phasing plan to May 20 after city attorneys warned of contractual consequences and residents urged delay while an Oklahoma Supreme Court referral proceeds.
The Norman Tax Increment Finance Authority voted 5-4 on April 22 to postpone a vote on the phasing plan tied to the Rock Creek Entertainment District development until May 20, 2025.
City Attorney Rick Knighton told the council the economic development agreement requires the developer to submit a phasing plan and for the tax increment authority to approve or disapprove it within 30 days. Knighton said the developer submitted the plan March 14 and the parties had extended the authority eadline to April 24; if the authority does not act, the developer could issue a notice of default and the authority would have 30 days to cure it. "If council doesn't take action today, more likely than not, what will happen is you will get a notice from the developer parties that you are in default," Knighton said.
Opponents and residents urged postponement while litigation over whether the financing…
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