ACTUALLY TOOK YOUR QUESTIONS TO THE MAYOR TO TALK ABOUT THE COSTS THIS COULD BE THE SITE OF A NORMAN ENTERTAINMENT DISTRICT THAT’S MOSTLY FUNDED BY PRIVATE INVESTMENT, BUT THAT INVESTMENT STILL MEANS 200 MILLION COMES FROM TAXPAYERS. THIS IS OUR CHANCE IN A LIFETIME TO MAKE NORMAN INTO SOMETHING ABSOLUTELY GREAT AND UNIQUE. NORMAN MAYOR LARRY HAKOLA BELIEVES THE COST OF A 1 BILLION NORMAN ENTERTAINER DISTRICT IS WORTH THE BENEFIT. PUBLIC FUNDS ARE 20%. PRIVATE FUNDS ARE 80%, HAKOLA SAYS. IN AROUND TWO WEEKS THEY SHOULD HAVE BETTER NUMBERS ON WHAT THIS WILL COST TAXPAYERS AND PRIVATE INVESTORS SO THAT 80% COULD HAVE SOME SOME HELP FROM OU. THAT DOES HAPPEN. IT JUST WHAT’S THEIR PART AND HOW MUCH A LARGE PART OF THIS PROPOSAL IS A NEW ARENA FOR THE CITY THAT OU WOULD USE FOR EVENTS LIKE BASKETBALL. SOME SAY THEY’RE WORRIED ABOUT HOW FAR THIS IS FROM CAMPUS. WE CAN ARRANGE TRANSPORTATION. WE’VE GOT BUSSES. THE MAYOR SAYS THEIR STUDIES HAVE SHOWN THAT STUDENTS OFTEN DRIVE TO OKC IN EDMOND AND HE HOPES NORTH NORMAN WON’T BE ANY DIFFERENT. THAT’S WHAT WE’RE BUILDING HERE. SO THEY CAN STAY HERE AND SPEND THEIR MONEY HERE INSTEAD OF OKLAHOMA CITY. BUT HAKOLA SAYS THEY WANT TO WORK WITH THE COMMUNITY TO MAKE IT HAPPEN. WE’LL HAVE SOME TOWN HALLS OR JUST GENERAL MEETINGS. THEY CAN WRITE ME WITH THEIR CONCERNS. WE CAN WRITE THEM BACK. THE MAYOR ALSO TELLS ME THEY’RE STILL FI
What will Norman’s proposed entertainment district cost taxpayers?
The estimated $1 billion entertainment district will be funded mostly by private investors, but taxpayers could still pay 20%.
After a new entertainment district was proposed in Norman, some residents worried about how much of a financial burden will fall on the taxpayers. The estimated $1 billion entertainment district will be funded mostly by private investors, with just 20% of the funding coming from the taxpayers. That comes out to around $200 million. | MORE | Norman unveils plan for $1B entertainment district with venue for concerts, OU basketball games“This is our chance in a lifetime to make Norman into something absolutely great and unique,” said Norman Mayor Larry Heikkila. Heikkila said he believed the cost of the district will be worth the benefit. “Its public funds are 20%. Private funds are 80%,” Heikkila said. In around two weeks, Heikkila said they should have better numbers on what this will cost taxpayers and private investors. A large part of the proposal is a new arena for the city that OU would use for events like basketball games. In north Norman near Interstate 35, some said they are worried about how far this is from campus. “We can arrange for transportation. We’ve got buses,” Heikkila said. The mayor said their studies have shown that students often drive from Oklahoma City and Edmond, and he hopes north Norman won’t be any different. “That’s what we’re building here. So they can stay here and spend their money here instead of Oklahoma City,” Heikkila said. >> Download the KOCO 5 AppBut he said he wants to work with the community to make it happen. “We’ll have some town halls, just general meetings,” Heikkila said. “They can write me with their concerns. We can write them back.”Top Headlines Oklahoma country music star Zach Bryan arrested in Craig County Largest Oklahoma school districts to opt out of lesson plans with conservative advocacy group Oklahoma country music star Zach Bryan explains his side of story after arrest in Craig County 2 taken to hospital after 3 vehicles, including semi-trailer, involved in crash on I-235 in OKC Meet the woman who holds the record for the world’s longest mullet
After a new entertainment district was proposed in Norman, some residents worried about how much of a financial burden will fall on the taxpayers.
The estimated $1 billion entertainment district will be funded mostly by private investors, with just 20% of the funding coming from the taxpayers. That comes out to around $200 million.
| MORE | Norman unveils plan for $1B entertainment district with venue for concerts, OU basketball games
“This is our chance in a lifetime to make Norman into something absolutely great and unique,” said Norman Mayor Larry Heikkila.
Heikkila said he believed the cost of the district will be worth the benefit.
“Its public funds are 20%. Private funds are 80%,” Heikkila said.
In around two weeks, Heikkila said they should have better numbers on what this will cost taxpayers and private investors.
A large part of the proposal is a new arena for the city that OU would use for events like basketball games. In north Norman near Interstate 35, some said they are worried about how far this is from campus.
“We can arrange for transportation. We’ve got buses,” Heikkila said.
The mayor said their studies have shown that students often drive from Oklahoma City and Edmond, and he hopes north Norman won’t be any different.
“That’s what we’re building here. So they can stay here and spend their money here instead of Oklahoma City,” Heikkila said.
>> Download the KOCO 5 App
But he said he wants to work with the community to make it happen.
“We’ll have some town halls, just general meetings,” Heikkila said. “They can write me with their concerns. We can write them back.”
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