Meeting Summary
The city council held a study session to discuss two key topics: affordable housing tax credit programs and the expansion of TV and broadband services. An expert from the Oklahoma Housing Finance Agency provided an overview of federal and state tax credits for developing affordable rental housing. Additionally, a representative from Blue Peak presented their plans to invest in and expand fiber optic broadband services throughout Norman, outlining the regulatory landscape and operational considerations.
Financial Matters
Affordable Housing Tax Credits
Discussion on federal and state tax credits, including developer fees (15-20%), cost per square foot limits ($230), and debt coverage ratios (1.2). No direct city financial action taken.
Broadband Service Revenue
Municipalities can charge up to 5% of gross revenue from video and broadband service providers for right-of-way access.
Coming Up
Watch For
- Consulting agreement with Wanda and Byron Ruler for affordable housing initiatives
- Contract presentation with Blue Peak for TV and Broadband services (January meeting)
Agenda Summary
Discussion regarding affordable housing including tax credit programs
Presentation by Daryl Beavers of the Oklahoma Housing Finance Agency on federal and state tax credit programs for new construction or rehabilitation of affordable rental housing, covering financing, eligibility, and potential municipal roles.
Discussion regarding TV and Broadband services
Presentation by Desi Stoops of Blue Peak on their plans for a $55-60 million investment to expand fiber optic broadband services in Norman, including regulatory framework and right-of-way management.