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Norman Forward oversight board reports most projects under budget, council flags interest costs
Summary
Andy Reager, chair of the Norman Forward Citizens Financial Oversight Board, presented the board nnual report to the Norman City Council on Jan. 28, 2025, summarizing completed Norman Forward projects and prompting council discussion about financing costs and a possible Norman Forward 2.
Andy Reager, chair of the Norman Forward Citizens Financial Oversight Board, presented the board nnual report to the Norman City Council on Jan. 28, 2025, summarizing completed projects funded by the Norman Forward sales-and-use tax and outlining possible priorities for a second program.
The report said most major projects completed under Norman Forward came in at or below their original budgets. Reager noted that professional project-management services had been paid to a consultant (listed in the report as roughly $3.7 million) and highlighted completed projects including the Westwood family aquatic center, two library branches, Westwood Tennis Center, Andrews Park improvements, Reeves Park community sports facilities, Ruby Grant Park phase 1, Griffin soccer complex and the Young Family Athletic Center.
Council members asked for clarifications about funding sources and long-term costs. One council member summarized the finance discussion by noting a multiyear interest burden across Norman Forward tranches that the council characterized in aggregate as nearly $25 million in interest paid to accelerate projects. Council members and the oversight board debated the tradeoffs between paying for projects up front with bonds versus using pay-as-you-go (PAYGo) funding for future projects.
Reager and council members discussed projects that were trimmed or delayed to fit budgets, with Reeves Park cited as an example where some elements were deferred with the expectation they could be picked up by a future Norman Forward program. The oversight board report also mentioned an ongoing discussion about the Griffin and Sutton land acquisition and the possibility of a Norman Forward 2.
No formal council action was taken on Norman Forward during the meeting; the presentation was received and Council and staff members asked follow-up questions about financing approaches, project prioritization and interest costs. Reager said the oversight board would continue monitoring existing Norman Forward projects and provide recommendations for future capital planning.
The oversight board nnual report and a slide packet were included in the council genda packet.
