Norman Approves $1.1B Entertainment District

The Norman City Council has approved a $1.1 billion plan for the Rock Creek Entertainment District, which includes a new arena for the University of Oklahoma's basketball and gymnastics programs. The development will feature retail spaces, 500 housing units, office spaces, and a hotel, and is expected to create 5,000 jobs and housing for 3,000 residents. Funding for the project will come from two Tax Increment Financing (TIF) districts, which will redirect sales and ad valorem taxes generated by the project. The decision was contentious, with significant public opposition citing concerns about the financial burden on the city and the potential negative impact on small businesses. Despite the council's approval, residents can still petition for a referendum to bring the TIF district to a public vote. OU officials and supporters view the project as a transformative opportunity for the community.