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Council discusses broader economic‑development program, incentives and advisory‑board changes
Summary
City staff laid out options for a citywide economic-development program including targeted incentives, possible staff additions, TIF usage, and proposed changes to the Economic Development Advisory Board; council asked staff to draft ordinance updates for EDAP/EDAB.
City staff presented a multi-meeting plan for an economic‑development program at the Business & Community Affairs Committee on Aug. 6, touching on incentives, TIF projects, staffing and advisory‑board governance.
Staff outlined common components of an economic‑development strategy: objectives (expand tax base, support quality jobs), short‑ and long‑term actions, and implementation policies such as incentives, targeted infrastructure and rehabilitation of blighted properties. The presentation noted existing tools — the Center City TIF, the recently created Norman Parking & Transit Authority and periodic transportation bonds — and suggested staff could draft project plans that tie incentives to specific job or development outcomes.
On staffing, staff reported the community and business relations division currently operates with one employee and an all‑in budget of about $208,000 (including Placer and CoStar subscriptions). The city discussed adding a dedicated economic‑development staffer funded from existing or redirected sources (including possible use of NEDC funds of roughly $125,000/year).
Council and staff discussed how other cities repurpose TIF and other dedicated funds for economic development and reviewed prior TIF projects, including a retention incentive (referenced as 'Emmy') that tied incentives to new job creation and paid out roughly $500,000 of a higher cap. Members questioned how to measure return on investment and requested peer comparisons and performance metrics.
Board governance: staff proposed expanding the Economic Development Advisory Board from seven to nine members and increasing the number required to hold specialized expertise from four to five; several councilors expressed support and asked staff to prepare ordinance language. Staff said they would bring EDAP a package of policies and draft ordinance updates to the full council for consideration.
Why it matters: Policy changes could alter how the city evaluates incentives and manages redevelopment projects. Council asked for options that balance public benefit with fiscal prudence and asked staff to return with comparative data and draft language.
