OKLAHOMA CITY The City Council this week allocated more than $8 million in bond proceeds to bolster two projects that were short on funding.
The council voted to transfer up to $7 million in additional general obligation limited tax bond funds to the Oklahoma City Industrial and Cultural Facilities Trust to acquire land for one or more economic development mega sites.
The original $10 million allocated for that purpose in December proved inadequate, Kenton Tsoodle, representing the trust, said.
“We’ve got options on properties but they’ve come back much more expensive,” said Tsoodle, president and CEO of the Oklahoma City Alliance for Economic Development.
The original allocation comes out to $10,000 per acre, but in the area where the trust is trying to acquire land properties have averaged about $23,000 per acre, he said.
Golf clubhouse
Council members also allocated an additional $1.6 million in 2017 GO bond funds toward construction of a new $11.8 million clubhouse at Lake Hefner Golf Club.
The initial project cost was estimated in 2017. Inflation has caused a significant increase in construction material prices and bids received on July 3 all exceeded the available budget, City Manager Craig Freeman noted.
In a separate action, the council approved a $1,074,975 contract with architectural firm Allford Hall Monaghan Morris for the project.
A formal groundbreaking ceremony for the 18,000-square-foot, two-story clubhouse is set for Aug. 29. Completion is expected in early 2026.
Manufacturing sites
Mega sites, also called super sites, are contiguous tracts of land of 1,000 acres or more that usually are owned by or optioned to state or local economic development authorities to attract big industrial operations.
The most prevalent uses in 2022 were high-tech manufacturers in the aerospace industry, semiconductor manufacturers and electric vehicle-related industries, according to the Area Development website.
“We’re interested in chasing really big manufacturers, Fortune 500 companies that would bring multiple thousands of jobs,” Tsoodle said Wednesday. “We’ve seen some opportunities pass us by.”
In June, a divided City Council annexed 320 acres of unincorporated land in Canadian County to help establish the mega site.
The 320-acre parcel located west of Gregory Road and south of NW 10th Street is the only land purchased to date, but the trust is preparing to close on another 225 acres soon, Tsoodle said.
In addition to land being purchased, 300 to 600 acres the city owns at Clarence E. Page Airport could be incorporated into the mega site depending on the needs of the end user, he said.
“This area is ideal because it is flat, it’s contiguous, it’s next to an interstate system, it’s close to an airport and it has a readily available workforce,” said Amanda Carpenter, attorney on behalf of the trust during the annexation discussion.
Neighbors of the 320-acre site spoke against the annexation and the mega site plan at the June meeting.
Councilwoman Nikki Nice opposed the additional $7 million for the project at this week’s meeting.
“To be used for that purpose, in my opinion, takes away from us being able to really invest in some of our local businesses and/or those that want to be participants within our city limits,” Nice said.
She cast the only vote against the additional allocation. Councilman James Cooper and Councilwoman JoBeth Hamon were absent during the vote.
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