2026-09-29 - Oklahoma City Economic Development

12:20Turn my microphone off. There we go.

12:22Good afternoon. Welcome to the Oklahoma

12:24City Economic Development Trust meeting

12:26of September 29th, 2025. I'll call the

12:28meeting to order. 26. What an idiot. Uh,

12:33first thing we need is approval of the

12:35minutes from the August 18th, 2026 trust

12:38meeting. We can take a motion, a second.

12:43Have a motion to second. Please vote.

12:47The items passed. Item three on the

12:50agenda is the ratification of claims for

12:52August of 2026.

12:55We'll take a motion.

12:59All right. Please vote.

13:11It passed. Thank you. Brings us to items

13:14for individual consideration. Item 4 A

13:16is a joint resolution approving the

13:18allocation of Gul bond funds in an

13:21amount not to exceed $1 million for job

13:24creation economic development incentives

13:26for the board of regents of the

13:28University of Oklahoma in consideration

13:30for expanding its health research

13:32enterprise and create approximately 520

13:37new tom market quality jobs. Misspad.

13:40>> Yes. Good afternoon. Um so this will be

13:42a traditional SIP project. Um, I did

13:45want to make mention that there is a $60

13:47million capex that they will present in

13:50their presentation since they are

13:52taxexempt. That was not considered when

13:54we ran the economic development model at

13:56the chamber. And so the million dollars

13:58is generated without that. And so I just

14:00wanted to let you know that that was

14:01excluded. Um, I'm going to bring Stuart

14:04Birkensshaw and Matt Holver up from OU.

14:06They're going to give us a presentation

14:08and answer questions if you need them.

14:10Thank you.

14:11>> Thank you.

14:16Sorry, I always have to do a mic

14:17adjustment whenever I get up to speak.

14:19Uh, thank you very much for the the time

14:20today to talk a little bit about the

14:22project that we're doing at the health

14:23campus. Now, the Herald Ham Health

14:25Campus, if you followed the news last

14:26week, um really excited to kind of walk

14:28through a little bit about the history

14:29of the university, where we're at right

14:31now, our Project 200 initiative that's

14:34tied to the incentive payment Joanna was

14:36talking about, and then I'll pass it off

14:37to Matt to talk a little bit about why

14:39Oklahoma City, why OU, what we're doing,

14:41and what's kind of special with what's

14:42happening right now. So, we want to go

14:43and go to the next slide.

14:46So, at the health campus, again, just a

14:49mile east of us here, uh four over 4,000

14:52students. We've got around 4,200, our

14:54largest class this fall, um largest

14:56nursing program in the state of

14:58Oklahoma. All six of our degree granting

15:00programs are hitting near record

15:02enrollment um right now. So, we've had a

15:04lot of growth. At the same time, we have

15:05a lot of employees on that campus, too.

15:07And if you look at the whole of OU and

15:09you kind of back out Department of

15:11Defense, Amazon, Walmart, we're the

15:13largest employer in the state of

15:14Oklahoma. So we have a big footprint

15:16here in the city in Norman in Tulsa and

15:19then spread out through a lot of

15:20different locations that we have in

15:21across the state. Um so proud of that

15:24growth that we're having here. I'll talk

15:25a little bit about the project 200

15:27growth here in a minute. But that's tied

15:29to where we talk about this top 100 in

15:31NIH funding. So this is National

15:33Institutes of Health. It's kind of the

15:34measuring stick when you're looking at

15:36health campuses on how they measure up

15:38when it comes to research. the more

15:40research we have, the more dollars that

15:42are coming in from outside the state,

15:44inside the state, generating jobs,

15:46allowing us to buy equipment, do

15:48different things that we wouldn't do

15:49otherwise. And so we cracked the top 100

15:51in NIH funding this year and hope to

15:54continue on a path to be a top 50 uh NIH

15:57funded university over time as part of

15:59this project 200 initiative. And right

16:02now, we're the largest research engine

16:04in the state. We have over $500 million

16:06research spend across our health campus,

16:07Norman campus and Tulsa campus. Uh the

16:10health campus again is more focused on

16:11that national institutes of health

16:12health related funding. Norman campus

16:15has a little bit different focus. But

16:16here today I'm really just talking about

16:18what's happening on our health campus.

16:19If you want to go and go to the next

16:20slide. So project 200 is our our main

16:24hiring initiative we have right here

16:25that I would say is really unique in the

16:27higher ed space right now. If you look

16:29across the higher ed landscape, you're

16:31talking about budget cuts at different

16:32universities and these are premier large

16:35universities. Oregon, Syracuse,

16:37Minnesota, uh Missouri's announced

16:40stuff, North Texas, they've there's

16:42challenging times out there, but the

16:43university is in a unique spot

16:45financially where we're able to kind of

16:46take this momentum and significantly

16:48increase the number of research faculty

16:50we have. And they're focused in four key

16:52areas that we think align with our

16:54expertise and the state workforce needs.

16:57And so those are on the board here

16:59around extreme weather, number one

17:00meteorology program in the country,

17:02national security and defense, energy,

17:05and health. And health is really what

17:07we're talking about today. So that's

17:09what's happening on our health campus,

17:11expanding hires around the college of

17:14medicine, college of public health,

17:16college of allied health, growing those

17:18and bringing in research productive

17:20faculty. And so if we go to the next

17:22slide, this is the piece that really

17:24kind of hits home on the volume of

17:26people that we talk about bringing to

17:28campus. And so we just had a a hire this

17:30past summer. His name was Dr. John

17:32Kerwin. He came from the Pennington uh

17:34biomedical lab in LSU. And so he's a top

17:37researcher in diabetes. He's leading our

17:39Harold Ham Center in diabetes and now

17:41our Herald Ham campus. He'll it's not

17:45just him that we're hiring. We're

17:46bringing his team with him. So you have

17:48a team of hires. So when we talk about

17:50project 200, 150 of those are on the

17:52health campus. He's one of those 150,

17:55but he's going to bring a team of

17:56researchers with him that make up that

17:58520 new direct jobs that we're talking

18:01about over the next five years. And so

18:03in reality, with 150 hires, that's less

18:06than four uh additional people that they

18:09bring with them. In reality, that number

18:10is pretty conservative. We'll bring more

18:12with them. Those teams could be 10, 15,

18:1520 researchers and requires us to build

18:18out different lab space on our campus.

18:20And so when you think about our

18:21footprint over here, I know we mentioned

18:22that the 60 is is tax exempt, but we

18:26we'll be spending money on building out

18:28lab space on our campus, bringing in new

18:31equipment for these researchers that

18:32they don't currently have. Uh, and it's

18:34a large investment for us, bigger than

18:36the the 60 million here. We we really

18:39budget around $2.6 6 million per faculty

18:42hire of that 150. That comes to over

18:44$400 million that we're investing to

18:46expand that footprint on the campus with

18:49that researcher and with the team that's

18:51coming along with them. So that's that's

18:53going to put us on that trajectory to

18:55move that NIH funding number up

18:57significantly from 98 where we currently

18:59sit near that top 50 where our ultimate

19:01goal resides. And the jobs here, these

19:03are you can stay on last slide here.

19:05You're good. Um they'll be highpaying

19:08jobs. These are full faculty members,

19:10full professors, assistant professors,

19:11associate professors. Those numbers for

19:13them will be significantly higher. We

19:15could be in the upper hundreds of, you

19:17know, near a million dollars in pay

19:19here. The teams that they'll bring in

19:21would be could be $75,000 type

19:23positions, lab techs, lab managers

19:25that'll run the labs for them, but staff

19:27positions that a lot of times will be

19:28funded on grant dollars. And so that's

19:31the kind of secret sauce on this is

19:32we're talking about we're bringing

19:33dollars in out from the state into the

19:36state that previously weren't here. So

19:38it's not repurposing of existing

19:39dollars. They'll be expected to be grant

19:41funded positions and it allows us to

19:44grow without a significant investment on

19:45our side other than we'll have to invest

19:47in capital in in research support

19:49positions that'll be a part of that 520.

19:51So you're going to have staff that help

19:53the research side that aren't directly

19:55involved in the research that will be

19:56critically important from a compliance

19:58perspective to monitoring that research

20:00and making sure we're doing things the

20:01right way. And the last number there is

20:04that 2.1 million additional payroll by

20:06the end of year one. That's that full

20:07team. We'll kind of stage it to kind of

20:09get to that 520 number over the next

20:12five years. So, um I'm going to pause

20:14there and let Matt kind of come up, our

20:16vice president of research and

20:17partnerships and talk a little bit about

20:19how this investment helps the university

20:21and the city and how we can kind of work

20:22together kind of moving forward and why

20:24that investment matters here in the

20:25city.

20:27>> Thank you. Thank you, Stuart. And I

20:29thank you all for your time and having

20:30us today. Next slide, please. Um, you

20:33know, I think one thing it's important

20:36to get across is the University of

20:38Oklahoma, I think, is at a different

20:40place in time than I would say the

20:41university has ever been. It's a very

20:42impact focused vision. The four areas

20:45you saw is focused on all those make a

20:47tremendous amount of sense where the

20:48state of Oklahoma can lead. uh where we

20:50sit in the state uh I don't need to tell

20:52you all or the state where we are in

20:54Oklahomaans as far as health outcomes

20:55depending on which one we're measuring

20:57we're somewhere between 40 and 50 you

20:59know and our university is setting goals

21:00is how can we reduce the um diabetes

21:03related deaths by 30% over a period of

21:05time just don't see many universities

21:07setting goals like that it's not just

21:09bringing research dollars into the

21:11university for the sake of doing

21:12research it's really bringing money into

21:14the university to grow economic impact

21:17to change the health of Oklahomaans

21:19And so the resources we're talking about

21:22um for example I've I led my own

21:23research program for about 25 years at

21:26one point I had two NIH grants and I had

21:2815 personnel in my laboratory 10 of

21:31those were graduate students five of

21:32them were you know support that so that

21:34gives you an indication as we recruit

21:36150 faculty that were purposely

21:38recruiting wellestablished faculty that

21:40bring programs with them and just the

21:42volume of personnel that it takes to do

21:44that all those graduate students need a

21:45place to live all those graduate

21:47students grocery shop etc. So, it's a

21:49significant amount of people that we're

21:50talking about with this recruitment. Uh,

21:52with these resources, we're going to

21:53building state of the state-of-the-art

21:54research, uh, laboratories. Um, and

21:58we're not just recruiting. We really

21:59want folks to come to Oklahoma because

22:01they want to be part of the impact

22:02driven focus we have at Oklahoma. We

22:04could recruit a world-class physicist

22:06and put them in a laboratory that could

22:08go anywhere in the country. We want

22:09somebody that wants to come here and

22:11specifically knows the maladies we're

22:13facing at Oklahomaans and wants to be

22:14part of the solution. And so we're going

22:16to building state-of-the-art research

22:17infrastructure. We're recruiting clinic,

22:19you know, we want to bring more clinical

22:20trials to the region so we can get

22:22state-of-the-art health care to

22:23Oklahomaans. All that compounds um and

22:26at the end result on the right there is

22:28improved health outcomes. That's

22:29entirely our goal. Next slide. Uh why

22:32Oklahoma City? Uh you know, OU is the

22:36only uh academic medical health center

22:38in the state. Um it's the comprehensive

22:42academic health campus. Um, university

22:44funding is funding exclusively this

22:47expansion. Uh, we're talking hundreds of

22:49millions of dollars in investment at the

22:50infrastructure it's going to take to

22:52support support these faculty. It's

22:54local incentives like this that are a

22:55big help as we contribute to uh those

22:58startup costs. Uh, and we're really

23:00doing this a national level. Uh, Stuart

23:02mentioned many universities today are

23:04contracting. We're taking advantage of

23:06that and we're going to recruit from

23:08those universities are contracting and

23:09bring the best of the best here. Uh, and

23:11we really want to make Oklahoma um

23:13Oklahoma City really the employer

23:16choice. Next slide.

23:18Uh, then impact on the metro. Uh, Stuart

23:20already mentioned high-paying jobs. Uh,

23:23but I can't emphasize enough the impact

23:25aspect of this. How can we move um

23:30better move discoveries to impact? Uh,

23:32we are not going to change the health of

23:33Oklahomaans by the next drug discovery.

23:35It would help. We're not going to change

23:36the health of Oklahomaans necessarily

23:38just by clinical trials, but it's really

23:40uh we need we want to treat four out of

23:41four cancer patients. Uh we want to

23:44develop innovative treatments and cures

23:45for diabetes with a very uh Oklahoma

23:48impact focused. Um so it's again it's

23:51very much economic impact driven. Uh and

23:54all along this education is central. We

23:56need to train the next workforce of the

23:57future. We need more nurses. We need

23:59more physicians that want to stay in

24:00Oklahoma. And that's our goal here. So

24:03and I believe that's it. Thank you for

24:05listening and be happy to answer any

24:06questions you all have.

24:08>> Thank you. I believe uh Dennis Bruit

24:11wanted to say a couple of things.

24:16>> Thank you members of the trust. Uh this

24:18is a really important project and the

24:20chamber of commerce strongly supports

24:21this this effort. There's a strong

24:25correlation between university research

24:27and economic growth. we see how

24:30important that is as we develop as a

24:31region in biosciences, life sciences,

24:35health. It's a very important sector for

24:37the Oklahoma City region. So, we're

24:38really excited about this project. Uh we

24:41appreciate the relationship we have with

24:43OU. Uh they've been a great resource to

24:46us as we bring in companies. Uh when we

24:49do a site visit, the the companies want

24:51to know about innovation. They want to

24:53know about the workforce pipeline. and

24:55we almost always have OU at the table

24:57with us as we're presenting to to

24:58prospects. And so we want this this

25:01project to take place and as you all

25:02know we have health challenges in

25:04Oklahoma. Uh I love that they're focused

25:07on practical outcomes with this research

25:10and so we we strongly support this

25:12project. We we wish OU much success and

25:15we're really honored to be here today.

25:16Thank you.

25:18>> Thank you. Any questions?

25:20>> Yeah, I was um interested about the

25:22Harold Ham gift. Uh, I know it's 150

25:25million with 50 million going to the

25:28diabetes center. How's the other 100

25:31million going to be used? And it's my

25:32understanding that's the largest gift in

25:34the history of the university.

25:36>> Yeah, largest gift in the history of the

25:37university. Um, we didn't ask for 150

25:39from you guys. Um, just the million. Um,

25:42but the other is going to what we're

25:45talking about today. um project when I

25:47say project 200 cost us $400 million as

25:50we look across and say we're going to

25:51hire 150 faculty and each of those is

25:53about 2.6 six million and what we call

25:55faculty startup. It's kind of insider

25:56baseball terminology for there's going

25:59to be lab cost. You might have some

26:00people coming from another university in

26:02and they're off the grant for a little

26:04bit and they need some support until

26:05they get on to another grant. There's

26:06costs associated with that and to build

26:08out certain space. So that other piece

26:10of the gift that's not going to diabetes

26:13is going to this and even the diabetes

26:15is that Dr. Kerr one piece that I was

26:17talking about. I mean he's one of those

26:19project 200 hires. He'll be key in

26:20growing research around diabetes with

26:23that support that Harold's already given

26:25to that center but expanding it even

26:27more. So it's all interconnected. It's

26:29not a separate kind of cut off. It's

26:31just this one's focused on diabetes. The

26:33other side we're talking about cancer

26:35research, chronic health disease,

26:37neuroscience. Those are three major

26:39areas on the health side that I would

26:41say that that's supporting and then

26:42diabetes fits within that whole health

26:45strategy. Yeah.

26:46>> Okay. Thank you.

26:47>> Glad to answer if there's any.

26:48>> Any other questions? No, before I vote

26:50on this, I just like to say thank you.

26:52And I always get amazed with U Health

26:54over there. It does amazing things. Uh I

26:57had a grandson that went over there for

26:58a little while and it was just amazing.

27:00His mom, my daughter, was like, "Man,

27:03I'm going to go in there myself next

27:04time." Even though she's not a kid.

27:06She's a little [laughter] old.

27:08Thank y'all very much.

27:09>> Appreciate it. Thank you.

27:11>> All right. We can go ahead and on item 4

27:13a take a motion.

27:16Have a motion.

27:18We have a second

27:23and the item passes. Thank you.

27:26brings us to item 4B, a joint resolution

27:29approving an allocation not to exceed

27:312,825,000

27:33from increment district A of the South

27:35Oklahoma City Economic Development

27:37Project Plan for the Histori Creek

27:40Affordable Housing Project consisting of

27:42approximately 215 affordable housing

27:45units and authorizing an allocation of

27:48$2,825,000

27:50in affordable housing gulp bond funds to

27:53preund the TIFF allocation.

27:56Mbpaden.

27:57>> Yes. So, um you all are approving

28:00essentially two tranches of funding. So,

28:01we've received funding or approval from

28:03the TIFF to do the TIFF allocation. Um

28:07the project needs the funding before the

28:09TIF will generate those funds. So, we'll

28:10preund it with gold and then we'll repay

28:12gold with those TIFF funds as they're

28:14generated. Um one other thing I wanted

28:16to point out about this project is it's

28:18two phases. Um and I want to let you

28:20know phase one is already under

28:21construction, which is unusual. We don't

28:23typically bring a project that's already

28:25under construction because we want to

28:26get in on the ground floor. Um the

28:28difference here is they received their

28:30tax credit funding for the affordable

28:32housing and after the fact um OFA issued

28:36a directive that they had to begin um

28:38construction at a certain date and so

28:40that kind of fasttracked them. They

28:41didn't quite have all their funding in

28:42place. So then they had been talking to

28:43us for we've been in talks with them for

28:45about six months or more. Um, and the

28:47other reason we would bring it forward

28:49is because if phase one doesn't get

28:51completed and their tax credits are in

28:53jeopardy, then phase two is also in

28:55jeopardy. So, this really helps us get

28:57that full benefit of the 215 units. And

29:00I'll bring up Donita Pierce. And we've

29:03got the other the developer, Paul

29:04Sakiier, too, to answer questions.

29:08>> Hello. Thank you for having us. Um, I'm

29:10here to talk to you about Atoria Creek

29:12Apartments. Um we are located on South

29:15I2 240 in Walker. Um over kind of by the

29:18service road and go ahead and go to the

29:20next one.

29:22Um it is a complete community. We have

29:24two phases again like she said. Phase

29:26one will be 92 units. Um phase two is

29:29123 units. Uh phase one is single story.

29:32Um and phase two will be twotory uh

29:34units. Okay. Um, we are asking for 9 uh

29:39925,000

29:41for phase 1 and then again that's 92

29:44affordable houses. Phase 2 is 1.9 that

29:47we're asking for. Again, that's 123

29:49units um with a total of the 2.8. Um it

29:52will be 215 completed affordable housing

29:55units once the project's um completed.

29:58Um here is a story of Creek phase one.

30:00Again, we have 92 houses. Um, we are

30:04part of the tiff like she said. Um,

30:07that's just kind of a look of it. Go

30:09ahead.

30:11Um, we are 60% AMI. Again, that is a

30:16where we're at, so we have to stay

30:17there. Go ahead. Um, here's our layout.

30:19We have 50 uh two-bedroom um and then 42

30:23of the three bedrooms. Again, with our

30:25community focused amenities, we will

30:26have a dark dog park, playground,

30:28walking trails, um a storm shelter for

30:31the community, as well as a clubhouse.

30:33Go ahead. Um and here's phase

30:34[clears throat] two. Uh 123 units.

30:37Again, we have 21bedroom, 71 twobedrooms

30:41with um 32 threebedrooms with 123 units

30:44total. Good. Um again, phase 2 is also

30:4860% AMI.

30:51And then here's our floor plan for um

30:53phase two. We have 20 one-bedroom units

30:56um 71 two-bedroom and then 32

30:58three-bedroom units. And those are

31:00twotory.

31:02Um our community impact um and our

31:04resident support. What will bring of

31:06course the location again it is um right

31:09on I240 and South Walker. You have all

31:11of the amenities over there. You have

31:13the shopping um groceries within um a

31:17certain mileage. um our

31:20project design and s sustainability

31:23sorry um it fits their surrounding

31:26neighborhood. So we are of course u

31:30fitting that I can't talk sorry um we

31:32are adding to the affordability crisis

31:33in the area that you might be aware of.

31:36Um our uh it is conveniently located. We

31:39have quality schools and parks in the

31:41area. Um, again, shopping. There's

31:43Target, Rip Crib, Home Depot, all of

31:45those things over there, Walmart. You

31:46have your grocery stores, Dollar

31:48General. Um, the we are providing

31:50employment for the area. Um, there is

31:53the medical, there's the new Oklahoma

31:54City Health Department that's located uh

31:57near the property as well as um access

31:59to all transits in the neighborhood. Um,

32:02our resident support, again, we are 5%

32:05handicap accessibility in the units. So,

32:08that is in there. Um, we will again have

32:10the walking trails, our storm shelter.

32:12We also will have um a security guard

32:15247 at the property. Um, as well as

32:18internet access for each unit.

32:23Sorry. Yeah. Um, Meg is our syndicator.

32:27We've worked with Meg several for

32:29several years. Um, they back us on on

32:33our our projects. Um, Hans Thomas is our

32:37architect. again, he is um he's worked

32:40on all of our affordable uh projects,

32:42our affordable housing units. We use him

32:45for everything. Go ahead. Um and that's

32:48it. Thank you. Do you have any

32:49questions?

32:50>> Yeah. Can you go back to the two slides

32:52with the rents and we walk through the

32:53rents real quick on phase one and phase

32:55two, please?

33:02>> Thank you.

33:06and then go to the next one, please.

33:12>> Okay,

33:14thank you very much.

33:18>> Yes.

33:20>> What was the inspiration behind naming

33:22it Atoria Creek?

33:24>> Um,

33:26I actually think I named it. Do you

33:28remember?

33:29>> Yes. My daughter actually came up with

33:30that name. uh my 10-year-old daughter

33:33about two years ago. And so that was

33:35just what we went with.

33:38>> Big name for a 10-year-old.

33:39>> Yeah. I I get my kids involved. We're

33:42involved. We're builders and so we get

33:43everybody involved. It's kind of a

33:44family business.

33:47>> It's going to be her complex.

33:50>> One day. Yes.

33:52>> Thank you.

33:53>> Any other questions, comments? All

33:55right. If not, we can take a motion on

33:57item 4B. Thank you.

34:04have a motion in a second.

34:09The item is passed. Thank you all very

34:10much.

34:12Item 4 C is a joint resolution approving

34:15usage up to $4 million in gold bond

34:18funds to assist in the construction of a

34:20pedestrian bridge to be located across

34:22the Oklahoma River near I35 and Lincoln

34:25Boulevard and morally pledging the

34:28city's expenditure of geo bond funds by

34:30administrative transfer to the Oklahoma

34:33City Economic Development Trust for the

34:35purchase of said bridge. Mr. McPaden.

34:38>> Yes. So in lay person I wanted to

34:40explain that. So, we're going to use

34:42four million in available Gul bonds to

34:45fund the project ahead of time. And then

34:46once the bond sale is completed next

34:49May, we would then recover those funds

34:51back. So, this is essentially a

34:53short-term loan. I was going to bring

34:54Debbie Miller up and she can give you a

34:56kind of some highlights of the project.

35:04>> Good afternoon. Debbie Miller, public

35:06works director. Um, this is a joint

35:08project. It's actually an ODOT project

35:10that we are working with them. Um it's

35:14part of the I35 bridge replacement and

35:17this is the multimmodal piece that's

35:19required for that. We've worked with

35:21them um a couple of years to get this

35:23location just east of Lincoln. Um they

35:26have a $17 million grant um to build the

35:30bridge. They don't expect the bridge to

35:31cost quite that much. So the remaining

35:34funds will go towards the aesthetics and

35:36then the four million will cover the

35:37rest of that. So, and as Joanna said, as

35:40soon as we sell the bonds in 2027, we'll

35:43make sure that it's reimbursed.

35:46>> You have any questions?

35:47>> So, when when will construction start

35:49and finish? Roughly,

35:50>> the bridge is actually out to bid.

35:52That's one reason we're having to do

35:54kind of borrow money um because our

35:58schedules did not quite align. So, it's

36:00out to bid. They should take bids in

36:02October and we expect them to start in

36:04December.

36:05>> And Debbie, what's the anticipated

36:07construction time? Do you know

36:09>> um the bridge portion should be complete

36:12um spring of 2028. Um the aesthetic part

36:15they'll have to come back after the

36:18Olympics to complete that portion of it.

36:24>> Great.

36:24>> Anything else?

36:25>> All right. We'll take a motion on item 4

36:28C. Excuse me. Yeah. 4C.

36:33We have a motion, a second. Please vote.

36:39The items passed. Thank you.

36:46All right. Item 4D is a joint resolution

36:48certifying that the project long table

36:51season 3 is an eligible project under

36:53the film incentive program and approving

36:56an allocation not to exceed $74,697

37:00in pay for performance film incentives.

37:02Miss McPaten.

37:04>> Yes. I will hand the mic over to Jill

37:06Simpson. She'll go through the next two

37:08presentations.

37:09>> Next two.

37:15>> Good afternoon. Jill Simpson, Oklahoma

37:17City Film and Creative Industries

37:18Office. And I have two applications for

37:21you to consider today. Um the first

37:24application is long uh what we call

37:28project longt season 3 and it's the

37:32third season of a 20 halfhour episode

37:36series uh scripted TV talk show being

37:40done uh by the people at Filmmakers

37:42Ranch. The series gathers agents,

37:45producers, editors and crew to talk

37:47about the experience of making movies.

37:49Filming will take place November 9th

37:51through the 13th of 2026

37:55and 100% of it will be filmed at

37:57Billmakers Ranch which is out on Post

38:00Road. 100% of the crew is Oklahoma City

38:03based from our seven 7ount qualifying

38:06area. Anticipated Oklahoma City

38:08expenditures total $746,973

38:14which is 93% of their budget.

38:18This being an episodic show, their

38:21minimum spend to get the full 10% is

38:24500,000. So, I'm recommending the 10%

38:27for them, which would be the 700 uh

38:30their qualifying spend of 746,973.

38:34So, they're meeting the criteria of more

38:37than 50% of crew members hired are

38:40full-time residents of our MSA. That's

38:42actually 100%. They're meeting the 50%

38:46filming in Oklahoma City requirement.

38:48They're actually filming 100%.

38:50Uh they're meeting the more than 50% of

38:53contracts with Oklahoma City vendors

38:54with an eye towards diversity. And

38:57they're at 100% on that as well. They're

39:00going they're planning to do their

39:01visual effects, re-recording, sound mix

39:04all at Apex Studio, which is at

39:06Filmmakers Ranch, and they're

39:08pre-qualified for the state of Oklahoma

39:10film incentive. So based on all of these

39:13elements and the fact that it's a

39:16sequence, the third season, the first

39:18season was 22 ups, the second season was

39:2120, and this one is 20 episodes. I'm

39:24recommending a rebate of 10% which is

39:2774,697.

39:31To break it down, they plan to hire 26

39:34local crew members. They that equates uh

39:38for five days of filming that equates to

39:401330 total days. 100% Oklahoma City

39:44residents. The qualifying labor income

39:47is 317,457

39:51and 100% of post-prouction done in Apex,

39:54which is something we really like to

39:55see.

39:57Um just the high points, 100% shot in

40:00Oklahoma City, 100% qualifying crew from

40:03Oklahoma City, 100% of vendors. So this

40:05is a great project for us. And then the

40:09e economic impact, the total local

40:11impact is 1.64 million. Job supported

40:15direct and indirect are 72.

40:18Labor income is $577,821.

40:23So the qualified expenditures breakdown

40:27um again total spend in Oklahoma City is

40:30746973

40:32and that breaks out to taxable goods and

40:34services at $32,982.

40:39Below the line salary and PDM and that

40:41is the actual working crew is 130

40:45130,734

40:47and above the line salary and PDM which

40:50is writer director producer 186,723

40:55and we did not have to make a reduction

40:57to meet the 25% cap. Any questions?

41:03As this is season three, where does it

41:05air and do you have metrics on

41:08viewership for seasons one and two?

41:10>> They are putting it out on YouTube,

41:12which has become a really popular way of

41:15getting content out there and that's how

41:17directors are being found in the

41:18industry. I don't have the metrics on

41:22how, you know, I I could ask them that,

41:24but I believe that we are basing

41:27qualification on the numbers that

41:29they're spending on the program.

41:31>> Sure, I respect that. It's just

41:33sometimes we like to know is there any

41:36are there any eyeballs on it if you

41:38will. So,

41:39>> you know, I can ask that. I did

41:40participate in an episode and was really

41:42impressed with what they were doing. Um

41:45they bring a lot of professionalism to

41:47it and it's very educational for

41:49upandcomers in the industry. They bring

41:51different people in whether it's a

41:53cinematographer, a producer, a writer

41:56and then they sit with them for an hour

41:58and break it down what they do. And

41:59there's there's a teaching element to

42:02it.

42:03>> It's somewhat of a u a workforce

42:05recruitment strategy.

42:07>> Yeah, absolutely. But I can get the

42:09metrics. I can ask it's Richard James at

42:12Filmmakers Ranch. He's a pretty good

42:14sales guy. So, I'm confident and that

42:17seems to be where people are finding

42:18content. So, and they're hoping that

42:21based on being on YouTube, a distributor

42:24would pick it up and maybe a Netflix or

42:26somebody like that.

42:35Thank you. All right, we can go ahead

42:37and take a motion on item 4 D.

42:45We have a motion.

42:50A second.

42:56The item is passed. Item 4E is going to

43:00be uh struck,

43:02>> right?

43:03>> And item 4F.

43:05>> So I have another in smaller independent

43:08project that I've cenamed Project Woods.

43:11It's an independent feature film and um

43:14it's it tells the tale of a rugged

43:16survivalist who takes his aranged

43:19daughter on a backcountry river trip to

43:22reconnect. But when a raft accident

43:24leaves them stranded in the woods, their

43:26adventure turns into a nightmarish bid

43:28for survival. So, right now, that genre

43:31of film is doing really well, which I'm

43:33sure leads to why they're producing this

43:36one here in Oklahoma. It's uh set to

43:39take place November 16th through the

43:4118th. And by the way, we will have four

43:43projects filming in November in Oklahoma

43:45City, which has not happened before,

43:47which is pretty exciting. Uh the

43:50production team, it's Effigy Movie LLC,

43:53but it's Red Clay Studios out of Tulsa.

43:56So, this is another Tulsa project coming

43:58down to film in Oklahoma City based on

44:00our rebate. Uh 100% filmed in Oklahoma

44:03City, city limits. Oklahoma based

44:06producer producer attached, which which

44:08is Cassidy Lennon. uh 90% Oklahoma

44:11Citybased crew anticipated Oklahoma City

44:14expenditures totaling 1,85,299

44:18which is 60% of their budget.

44:22Uh they're meeting the minimum threshold

44:24of 500,000 for the 5% rebate. Um it's

44:28anticipated to have local qualified

44:30expenditures of again one 1.8 8 million,

44:33a little over. And their uplifts or the

44:38extra qualifying considerations are more

44:41than 50% of crew hired locally, they're

44:44actually going to hire 90%. More than

44:4650% of filming days in Oklahoma City,

44:48it's going to be 100%. More than 50% of

44:51contracts with local vendors, they're

44:53projecting 90%.

44:55And they're going to do v visual effects

44:57re-recording sound mix here. They

44:59haven't chosen the studio yet. So, the

45:01good news is we have a few options. Um,

45:04they're pre-qualified for the state of

45:05Oklahoma incentive. So, I'm recommending

45:08the 5% rebate of $90,265.

45:13They will hire 50 crew members working

45:1625 days, which equals 1,250 mandays of

45:20work. 90% Oklahoma City residents.

45:24Qualifying labor 936821.

45:28facility for post-production is to be

45:30determined.

45:33So the high points are 100% of filming

45:36days, 90% of crew, 90% of vendors are

45:40local.

45:41And to break down the total local local

45:44economic impact of 4.3 million that's

45:47job supported direct and indirect of 186

45:51labor income of 1,757817

45:56and their qualifying expenditures of

45:581,85299

46:01break down into taxable goods and

46:02services of 350,25

46:07below the line salary impertium of

46:10$816,00

46:11821 and above the line salary and

46:14predium of 120,000. And I will just add

46:18to this, if you choose to approve this,

46:20it will leave us with a remaining rebate

46:23balance of 3,870,000.

46:27So these little projects create jobs and

46:30impact in a good way.

46:32>> Any questions, comments? All right, we

46:35could take a motion on item 4F.

46:42I have a motion to second

46:47and that item is passed. Thank you.

46:51All right. Item 4G is a economic

46:54development agreement with Pipe Cleaner

46:56Boy Movie LLC for a pay for performance

46:58film incentive agree agreement not to

47:01exceed $31,488

47:04for the proposed feature film project

47:07karma. in this big spot.

47:09>> Yes, this is our standard film agreement

47:11paid out at after the project is

47:12completed. They've submitted their

47:13application and documented their um

47:15compliance with the terms.

47:18>> All right, if we have no questions or

47:20comments, we can take a motion to second

47:22on item 4G.

47:25We have a motion to second.

47:29The items passed. Item 4 H is economic

47:32development agreement with the

47:33filmmakers table LLC for a pay

47:34performance film incentive agreement not

47:36to exceed $69,385

47:40for the proposed scripted television

47:42series project project long table season

47:451.

47:46>> Yes. So again our standard um EDA for

47:49the film project you saw film uh longt

47:52three. So this one is um nearing

47:54completion on season one standard

47:56agreement paid out at completion.

48:00All right. If we have no questions or

48:02comments on that, we can take a motion.

48:05Have a motion to second.

48:09Any items passed?

48:12Item 4 I, amendment number two to

48:14professional services agreement with the

48:16city of Oklahoma City and Sasaki

48:18Incorporated Consulting Services to

48:21guide the creation of a downtown

48:23strategic plan cost increase of

48:25$26,577.50.

48:2850 cents.

48:30>> Yes. If you all will recall, we uh

48:32contributed some funding to this project

48:34initially. So, this the trust is a party

48:37to the contract. These funds are

48:39planning department funds. So, we are

48:40not contributing any additional for us,

48:42but we need to approve the contract

48:43since we're a party. The increase is

48:46related to um additional services

48:48requested by staff for um extra outreach

48:50that they performed.

48:53And what was the total original total on

48:56that agreement

48:57>> of the agreement? So the total now with

48:59this increase is about 850,000.

49:02>> 850.

49:07All right. Any comments, questions?

49:13All right. We can take a motion.

49:18I have a motion and a second.

49:25The items passed. Item 4J is amended and

49:27restated professional services agreement

49:29with City of Oklahoma City and the

49:31Alliance for Economic Development for

49:33economic development program

49:35administration and project

49:37implementation not to exceed $937,660

49:42for fiscal year 2026 2027.

49:46Expad.

49:47>> Yes. So, this is a new multi-year

49:49contract. The term of the actual

49:51contract is July 1, 2026 retroback um

49:55through June 30th of 2031 and then we

49:58would have annual funding allocations

50:00like we do on many of our other annual

50:02contracts. Um the amount I will let you

50:04know is an increase to the base of

50:06150,000 to be funded by TIF and GOL.

50:09This is reflective of additional

50:11services, complex agreements, things

50:13that we have been working with. it

50:14shores up and kind of restates their

50:16contract and their um um contract

50:19expenses so that we can move forward

50:21with some pretty standard minimal

50:23increases over time is the expectation.

50:29No comments or questions. We can take a

50:31motion.

50:36Please cast your votes.

50:40That item's passed as well.

50:45brings us to item 4K, economic

50:47development agreement,

50:49uh, United Petroleum Transports

50:51Incorporated for locating their

50:52headquarters operation in downtown

50:54Oklahoma City, an amount not to exceed

50:56$400,000 from tax increment district

50:59number eight.

51:01>> Yes. So, as a reminder, this is that

51:03special budget category in TIFF 8 that

51:05allows us to fund headquarters projects.

51:07Um UPT is locating their headquarters

51:11portion of their um company. They're

51:13keeping their um their uh location on

51:17the south side of Oklahoma City, which

51:18was really a great deal for us. So, um

51:21they're bringing 75 existing employees,

51:23which would um allow us to allocate 150

51:26of the 400,000. And then they're also

51:29proposing to add up to a hundred new

51:32employees. And so we've split the

51:34$400,000 allocation. So 250 of that

51:37would be allocated over time as they add

51:39those new positions.

51:41>> Excellent.

51:43No comments or questions. We can take a

51:46motion.

51:50I have a motion in a second.

51:55The items passed. Item 4L is a economic

51:58development agreement with Mason Realy

52:00Investors LLC for assistance in

52:03development financing not to exceed

52:05$750,000

52:07in support of the peerless building

52:10project which consists of the reh

52:12rehabilitation of a vacant building for

52:15my defense a drone detection company.

52:19>> Yes. So this was a total $9,600,000

52:23investment by the developer. This um

52:26project is located in Auto Alley at 8th

52:29Street. Um we are proposing well we

52:32we've approved 750,000 from TIF 2 excess

52:35funds that would be paid at completion.

52:37Um the additional benefit of this

52:39project was that it was renovated for a

52:41tenant that had already been identified

52:44my defense. Um and there is some uh

52:46opportunities for growth for that um

52:49company. So it was a little bit of a

52:51double benefit for us.

52:55Any questions or comments?

52:58All right, we can take a motion on that

52:59item.

53:02Please cast your votes.

53:06That item is passed as well. General

53:08managers report, Mr. Madden.

53:11>> Yes. Um, so in general, we have seen

53:14some increases in fund balance from

53:16prior year adjustments as accounting

53:18wraps up FY25.

53:20Um the most of the expenses you'll see

53:22the the largest amounts are related to

53:24debt service. Um I also wanted to point

53:27out that in TIFF 2 and in TIFF 13 you'll

53:30see some significant increases in

53:32incumbrances because we have begun to

53:34encumber for the soccer stadium. If

53:36you'll recall we um allocated 10 million

53:39from TIFF 13 and 20 million from TIFF 2.

53:45>> Thank you. All right. Any comments from

53:48staff?

53:51Trustees,

53:53any citizens signed up to speak? All

53:55right, with that we are adjourned. Thank

53:57you.

53:58>> Thank you.