City staff reminded the council that the Norman Economic Development Authority (NEDA) was created by a trust indenture approved in 2012 to hold property, issue long‑term debt and facilitate economic incentives that cities cannot commit to within a single fiscal year.

Staff said NEDA has largely been dormant because there is no dedicated funding source; the trust remains a potential vehicle for long‑term projects such as the RTA property or Grey Street redevelopment. As a public trust, staff said the city council would serve as trustees and any proposals would be heard in public meetings with council input.

Councilors asked whether the city could instead assign the roughly $130,000 annual per‑capita contribution to NEDA to build a local fund for incentives and projects. Staff described options: deposit funds into a designated trust account over time to build capacity for incentives, or hire dedicated staff to pursue deals; tax increment financing (TIF) was discussed as limited to TIF revenues, while a dedicated sales‑tax or an annual appropriation were possible alternatives.

Council members highlighted the benefits of keeping control and ensuring local priorities such as mixed‑use redevelopment or housing affordability can be factored into incentive decisions. Staff said the trust language is broad on purpose and could accommodate a range of lawful economic development activities, but emphasized the need for a funding source or a financed project to make the authority operational.

The council agreed to pursue further discussion and scheduled follow‑up study sessions; there was no formal vote.