Meeting Summary
The city council received an update on the ARPA affordable housing project, including a proposed $500,000 for site work to enhance federal funding competitiveness. They also discussed the process and structure for the Aim Norman comprehensive plan's steering committee and subcommittees, focusing on transparency and inclusivity. The meeting concluded with a vote to adjourn into executive session to discuss the city auditor's hiring.
Key Decisions & Votes
Adjournment to Executive Session
The council voted to adjourn from the special meeting into executive session to discuss the hiring of the city auditor.
Financial Matters
ARPA Affordable Housing Project Site Work
Proposed allocation of up to $500,000 from an existing budget account for site work and infrastructure (e.g., Mhof road widening) to make the affordable housing project more competitive for federal tax credits.
ARPA Affordable Housing Project Loan
$5.5 million in ARPA funds to be used as a loan at 3% interest over 30 years for the affordable housing project. Payments received back will be free of ARPA requirements and could potentially fund a Housing Trust Fund.
Coming Up
Deadlines
- ARPA funds expenditure/obligation deadline: 2026
- Aim Norman comprehensive plan year goal: 2045
Watch For
- Term sheet with developer for ARPA affordable housing project (October 24th council meeting)
- Amended resolution regarding Aim Norman steering committee process (October 24th council meeting)
- Proposal for a Housing Trust Fund
- Grant opportunities for identifying and mitigating greenhouse gas emissions
Agenda Summary
Update on ARPA affordable housing project
Presentation on the ARPA affordable housing project, detailing 75 affordable units for 40 years, a $5.5 million ARPA loan at 3% interest, and a proposed $500,000 for site work to increase competitiveness for federal tax credits.
Discussion regarding Council priority framework committee process and structure for Aim Norman comprehensive plan
Discussion on the goals, structure, and subcommittee selection process for the Aim Norman comprehensive plan, addressing concerns about inclusivity and transparency in committee member selection.
Consideration of adjourning into executive session is authorized by Oklahoma statutes 25 section 307 B1 in order to discuss the hiring of a city of the city auditor
Motion to adjourn into executive session to discuss the hiring of the city auditor.