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Oklahoma City Economic Development Trust approves land sale, film incentive and refund
Summary
At its Aug. 26 meeting the Trust approved the sale of Site M for a Hapco build-to-suit project, an economic development agreement for a feature film project, a $12,277.55 refund for minimum tax overbilling, and ratified minutes and July claims; staff reported receipt of TIF payments from the county.
The Oklahoma City Economic Development Trust on Aug. 26 approved the sale of “Site M,” ratified administrative items and approved an economic development agreement for a film project, and authorized a $12,277.55 refund related to a clinic project in the Northeast Renaissance TIF District.
Miss Vickspadden, trust staff, said the Trust is selling one of the 5.77-acre sites known as Site M to a master developer that will deliver a build-to-suit facility for the Hapco project. "I do wanna point out a correction on our memo," she said, noting the buyer referenced in an earlier draft (MACDMB) was leftover text and has been corrected in the legal documents.
The Trust also approved an economic development agreement with Analog Dogs for the proposed feature film project “Project Nostalgia,” with a not-to-exceed amount of $309,439. Trust materials noted Project Nostalgia had been approved in December 2024 and the agreement before the Trust culminates that approval.
Trustees approved a resolution authorizing a refund of $12,277.55 to 2 Yet Many for minimum tax payments that were billed in error in connection with the 1700 Northeast 20 Third Street clinic portion of the Eastpointe project in the Northeast Renaissance TIF District. Trust staff said two separate projects (a clinic and a retail project) were processed together in error, which resulted in minimum-tax billing for both; the refund covers three years of the incorrectly remitted payments.
Earlier on the agenda the Trust approved the minutes of the July 29, 2025 meeting and ratified claims for July 2025. During the general manager's report, Miss McStadden, general manager, said the Trust had received TIF (tax increment financing) checks from the county; the amounts were reflected in the TIF fund balances but specific dollar amounts were not specified in the meeting.
All agenda items were presented without substantive debate. After votes on the items above, the chair adjourned the meeting.
