Meeting Summary
The city council held a discussion on two economic development items. The first involved a proposed contract with the Cleveland County Economic Development Coalition (CCEDC), which raised concerns about transparency, accountability, and funding equity. The second item was a discussion about the dormant Norman Economic Development Authority (NEDA) and its potential use for future economic development initiatives. No action was taken on either item, with further discussion planned.
Financial Matters
City's historical contribution to NEDC
Since 1996, the City of Norman has contributed over $3 million to the Norman Economic Development Coalition (NEDC) for its operations.
ARPA funding for incubator program
In 2022, council approved a subrecipient agreement with NEDC, providing ARPA funding for their incubator program development at the old Copeland's location.
Proposed CCEDC funding from Norman
The proposed contract with CCEDC suggests a funding model of $1 per capita for cities with 15% or more of Cleveland County's population.
Cleveland County's contribution to CCEDC
Cleveland County contributed based on their per capita rate.
Startup 405 budget for incubator
Startup 405, which will occupy the incubator location, has a budget for acquisition, construction, and furniture/fixtures.
Broken Arrow economic development spending
Broken Arrow spends a minimum of $400,000 annually on economic development, with total spending estimated over $1 million.
Edmond economic development spending
Edmond spends annually on economic development.
NEDC real estate assets
The Economic Development Coalition currently holds approximately $12 million in real estate on its balance sheet, primarily within Norman city limits.
Coming Up
Deadlines
- December 31, 2025: Deadline for investors to be considered founding partners of CCEDC.
Watch For
- Further discussion on the Cleveland County Economic Development Coalition contract (potentially December 9th or 16th).
- Further discussion on the Norman Economic Development Authority (potentially December 9th or 16th).
- A proposal from the Economic Development Advisory Board (EDAB) regarding economic development incentives to come before council.
Agenda Summary
Discussion regarding entering into a contract with the Cleveland County Economic Development Coalition
Presentation and discussion on the proposed contract with CCEDC, including its history, scope, funding model ($1 per capita for Norman, totaling $130,46), and concerns raised by council members regarding financial transparency, accountability, political activity prohibitions, and equity for Norman's historical contributions and incubator funding. The CCEDC director declined to make changes to the proposed contract.
Discussion regarding the Norman Economic Development Authority (NEDA)
Review of the history and purpose of the Norman Economic Development Authority (NEDA), created in 2012 as a public trust to facilitate long-term contracts, investments, and debt issuance for economic development. Council members serve as NEDA trustees. The discussion explored potential uses for NEDA, such as holding property for projects like the RTA and Grey Street redevelopment, and providing incentives for targeted industries or small businesses, potentially funded by an annual city appropriation.