Meeting Summary
The city council held a conference to discuss a proposed contract for the transition from the Norman Economic Development Coalition (NEDC) to the Cleveland County Economic Development Coalition (CCEDC). Council members expressed significant concerns regarding the proposed contract's lack of financial transparency, the increased financial contribution from Norman, and the potential dilution of Norman-specific economic development focus. No decision was made, and further negotiation of contract terms was suggested.
Financial Matters
Proposed CCEDC Contract Funding
The proposed contract requires an investment of $1 per capita, totaling $130,046 based on July 1, 2023, census projections. This amount is $5,000 more than the current FY26 budget appropriation of $125,000 for NEDC.
Original NEDC Contract Funding (1996)
The initial NEDC contract required $75,000 contributions from the city, university, and chamber.
Amended NEDC Contract Funding (1997)
An amendment to the NEDC contract increased annual contributions to $100,000 per entity.
Incubator Project Funding
The city of Norman contributed $1 million to the incubator project, with Cleveland County also contributing $1 million.
Coming Up
Watch For
- Negotiation of the proposed Cleveland County Economic Development Coalition contract, particularly regarding audit requirements, activity reports, definition of political activities, board representation, and Norman-specific focus.
- Future discussions on the equitable transition plan for Norman's 30-year investment in NEDC.
- Clarification on the county's financial contribution formula to CCEDC.
Agenda Summary
Discussion regarding a proposed contract with Cleveland County Economic Development Coalition
A presentation and discussion on the proposed contract for the Cleveland County Economic Development Coalition (CCEDC), which would replace the Norman Economic Development Coalition (NEDC). The new coalition expands its scope to include other Cleveland County cities. Council members raised issues concerning the absence of quarterly financial reports and annual audit requirements in the new contract, the increased funding request from Norman, and the shift from a Norman-centric focus to a county-wide approach.