Okay, good morning.

Welcome to the Tulsa Development Authority.

Thursday, April 23rd, uh 2026 meeting.

I'm not asking Philism, as you can tell, I'm I'm Carl Bracey, the vice chair, uh stepping in her stead while she's out of town.

So I issue would you uh call the roll, please?

Yes, call bracey here, Ellion Hurst Adam here, Jennifer Griffin here, Steve Mitchell.

Here great.

We have a quorum item two review of consent agenda and request to remove items from the consent agenda, separate discussion and consideration.

Do we have any association items you only have two there?

Hearing none, item three consideration of the consent agenda routine and repair device for discussion.

We talk about that.

So do I have a motion to accept the consent agenda?

So moved.

Second.

I hear a second.

Oh second.

Okay.

Yes.

Yes.

Jennifer Griffin?

Yes.

Steve Mitchell.

Yes.

Motion approved.

Item number four.

We had now items removed from the consent agenda.

Let's move quickly to item number five.

Consideration discussion approve amend revise or reject an amendment to a contract to sell of land for private development with 22 North Utica.

Vicky, you're on the clock.

Thank you.

So this is as you mentioned, 22 North Utica.

The developer entered into a contract for the land in 2022.

He has been getting his financing together.

So needless to say, his project has been delayed.

He is requesting an amendment to this contract for sale of land and private redevelopment to allow him more time to complete the project.

He is aiming for construction to start June 1.

I know he's already submitted his IDP, his documents for IDP, and he's already submitted his documents for permitting.

So they are on the road.

So he's now able to fit 45 units in this congregate style building instead of uh the 40 that we initially thought about.

So that's a good thing.

Um another thing to mention uh for this particular project is that he has picked up a very healthy team of people to help him move this project forward.

So Brent Gaithright is helping him with all the pre-construction items, and he has uh good people in his team right now to move this forward.

So we are requesting that this second amendment be approved.

Any questions?

How we're out is he looking the extension to he is looking to start June 1 and be finished by December of 27.

Yeah.

Any questions, comments?

I have a motion.

I'm motion second.

I issue, please call a roll.

Paul Gracie?

Yes.

Elliot.

Yes, Jennifer Griffin.

Yes, Steve Mitchell.

Yes.

Motion agreement.

Thank you.

Item number six, consider discussion, approval, amend or reject.

Advise or reject a terminating of contract for the sale of land for private development to Axum Company, LLC for private located Tulsa.

All right.

Good morning.

Hey, good morning, guys.

You own the lot.

So um you got the pressure on the lady.

Um you guys might recall last month we had uh brought this before you and we um happy to say that we were successfully able to get a mutual release with Axum.

So this contract was originally uh approved in November.

Uh he unfortunately Axum Paul decided that he no longer wanted to build on the slot.

We were able to officially make contact with them.

We got a signed mutual release as of April the 20th, and the good faith deposit of 800 dollars is going to be retained by TDA, and our goal is to hopefully sell this to a future developer that will build on the slot.

We need a vote to approve it.

So move.

I issue call a roll.

Yes.

Yes.

Jennifer Burton, yes, Steve Mitchell.

Yes.

Did I say something right?

Sure.

This Billy was able to get the consent and the mutual release signed.

So the void of this having to issue a notice of termination that we talked about the last meeting.

Right.

So if you wondered why it's different, because Billy was able to get their agreement for the termination.

I'm kind of curious too.

Generally they have to vacate their deposit and so forth.

Do we have any when they happen to and we push back to what you just cut me some slack and not pertain to deposit?

Uh no, actually he he um I you know I I think uh originally when he had you know purchased the property, he had bigger ambitions and I think wanted to build something bigger than I think what would be originally allowed.

But he said that you know that was on him for not you know doing his full due diligence, and so he was perfectly fine with forfeiting the deposit.

He he never asked for it back at all.

Do we have any other properties under development from this?

No, no, that this was our first uh um would have been our our first contract with him, but um item uh seven, you still up uh consider discussing the proof amendment revise or reject an amendment with home run LLC for 23 adjacent properties located between 1130 and 1326 Martin Link Boulevard, Tulsa, Oklahoma, less 1302, 0820 of Mont Luther King Boulevard.

So this has been developing here.

Yes, this has been on the docket for a while.

You guys might recall that back in uh December, Nia was up here and we approved three parcels to be um released uh under contract so that uh home run could develop this property.

So a little bit of background.

This was originally these parcels belonged to an unprevious TDA contract called Ultim Homes dating back to 2005.

He um originally was under contract for 43 different parcels, and he only got all about half of it or so built before the 2008 financial crisis.

Once the financial crisis hit, um he was unable to continue, and uh Rvest Bank ended up uh taking the um 26 parcels in 2008 uh without TDA's knowledge, and so then in 2016, RVS then went and sold this to um home run.

And so they have they have the rights um well, purchase they purchased the property to uh develop all of it.

And so now today we're coming back to get the other 23 parcels approved.

Um this cut uh amendment and contract would require compliance with um infill overlay, and it would also require them to submit their construction plans for approval here by by TDA.

And Josh and I have been working extensively on it.

Uh anything well it's just it's it's a really unusual situation, but the home run bought it from a foreclosure out of the bank, but our contract terms were still of record and were never released uh or foreclosed out by the bank.

So they bought the property subject to the requirements and covenants under our redevelopment agreement.

So it's very important it came up in the title search we filed our notice of uh Liz Pendons and our uh notice of existence of our contract, so that's where it came up when they started trying to market the property.

John, I have a question about that.

So, like and so we have a redevelopment agreements.

The properties were originally purchased, and I guess my question is if they don't fulfill the redevelopment agreement terms, would the property have come back to us or obviously it went to the bank.

I'm just I'm curious about like what what kind of clawback or anything, how we're involved, I mean we're involved now, but it could have okay.

Um it was not clogged back, it was sold to the bank.

I mean, we still have rights under our contract, but it's probably not the best solution to try to claw back at this point more.

In my opinion, it's better for TDA to work with the new redeveloper to share and get the development accomplished.

And I would also like to say that that the redevelopers council, I've submitted that to him.

He has not responded yet on this first amendment.

So what we're asking you to do is approve the form of this first amendment, subject to if there are any material changes when the hearing back from their attorney will bring it back to you for reconsideration.

But to keep the ball moving so they can hopefully get the properties sold and redeveloped.

We're asking you to approve this first amendment.

And it looks like two, you guys want to essentially establish kind of a lot by lot framework for kind of review like I guess terms, sort of as they redevelop.

Uh can you explain like that now?

Well, it's so they don't have to to develop the whole 23 lots before they can sell any of it.

Okay, I got you.

They are building homes on a lot-by-lock basis, marketing individually to third parties.

Okay.

Uh the first three lots, that's what happened.

That uh we made an agreement to release our covenants uh and uh file a certificate of completion as to those properties when they were completed and ready to close.

That's what's contemplated with the next 23 parcels, is that as they become marketed and the construction is completed in accordance with approved plans by TDA, then we would release our covenants on a parcel by parcel basis.

But those the terms and requirements would be the same for all the parcels.

It's just we were able to release them part out of parcel.

Okay, yeah, because we want we want this contract to be iron clad tight because it's previous terms.

Yeah, well, hopefully that has occurred by what I prepared before because we've restated the contract, they ratified the contract, agreed to abide by its terms on the original agreement that we approved up well in December.

December and so I think that's been taken care of, and they are uh agreeing to comply and abide by that contract terms.

Progress.

I'm sure you'll hear more about this.

So it won't be the last time.

Good move.

We just want to make sure we got everything scored away.

I think John's job of making sure that we have all the bases covered.

All ours, I's dotted, T's dotted.

Absolutely.

Thank you.

Uh any other discussion questions about this item.

Hearing none have a motion to approve.

A motion to approve.

Yeah, second.

As you please call a roll.

Yes.

No, I haven't.

Thank you, Billy.

No, we have no items for economic workforce development or community development uh so far.

So we're rolling to you, Lynn.

Okay, on the clock.

Okay.

Um, so the budget.

Um there isn't okay.

So this is the Lansing budget, first of all.

Okay, here's the TDA operating fund budget.

Um, there's a couple things that I want to like firm up before we bring this back next month.

Um, for instance, the gain or loss on uh sale of land.

I don't know whether that's accurate or not.

I'll need to talk to Ania when she gets back from maternity leave.

Um, and then the other thing that you'll notice is the addition of all these um TIFIA um grant expenditures, they weren't on there last year, but I've broken them out between the uh vendors, so it'll help us keep track of them.

Um other than that, there's not uh a lot of changes between this year and last year.

If well, the big one is um that we TDA will not be paying the management fee to Tao anymore.

So that's a nice appreciate.

I appreciate Gary's on that we had an internal discussion around uh whether it made sense for us to for Taylor to be charging uh TA fifty thousand dollars when TDA is operating basically off fund balance with with not a significant amount of revenue coming to you, so we thought that really didn't make a lot of sense.

So we and Lynn has said there's enough uh financial resources on the tail side to absorb that, so we just took it out.

Yeah, I really appreciate that the effort and the uh the move in that direction.

As we've evolved, we've become one uh yeah, we're just absolutely uh separate because of where we structure TA for TDA a lot of resources that TO is now used, were under TDA at one point.

So I think that's great, great administrative move.

Uh thanks, Garrett.

Appreciate it.

Ann Lynn.

And then we're gonna have to do that.

We have also got reporting to I may pitch an idea, but she has to agree to the case.

I think she got she got time to say we need money, we need money.

So we're trying.

Um okay, so moving down just a tad.

Um, so you can see right here this um other income, the grant reimbursements from TIFIA.

Um completely offset the expenditures that you saw up above.

So um, and then we have budgeted um grant overhead of 98,000.

Um so overall it's it's it's TDA, it's not bad, it's not great comments.

Great work, Dylan.

Working things through the process.

Um the next one that uh is Lancing, and really Lancing um the budget is uh the only change on that is that I increased the uh from last year that I increased the um interest revenue for pooled cash just because this year has seen more than anticipated.

So with everything going on in the world, I kind of expect that interest rates will go up and and those that increase will be in our hands.

So bottom line is um we expect I forgot what column I'm in, um to have a thirteen thousand dollar surplus next year income.

So I think going forward once Nia's back, I think we're gonna have a conversation around what the business case is for Lansing and discussing uh so Mia has reports on Lansing, and uh she has a uh a real estate uh report from real estate advisor on um you know kind of a next step on that, and then we'll probably just be discussing what the business case is for that and what what we would do with Lansing after we maybe do some of those interim steps that were suggested.

So just FYI that's on the radar.

It may take you know it may be in the fall, or but we plan to be to talk about that about what the future for Lansing will be.

Yeah, it's not huge, but it's it's still positive.

There's some market upside to it if we do some if we do there are some steps that we're told that would almost double the market value of the property if we were able to execute those, so we're gonna talk about those.

It's a good strategic spot.

So great.

Thanks, Lynn.

You're welcome.

Okay, so moving on to budget tactuals.

I'd like to start on page four.

Um, and I'll go through this pretty quick again.

Uh just like I did with Tao.

Um I'll put in the the green and red check marks and X's over there for next uh month.

But uh as you can see for this month in the uh this column, uh most of the activity was just collecting tivia um invoices, um, and then uh there were also expenditures related to the tivia.

So um other than that and paying for the audit, there wasn't wasn't a lot to speak of any questions.

Okay, okay, and then on page eight is the Lansing.

Um budget to actuals, and again, nothing very exciting there all good.

Great.

Any questions of Lynn?

Thanks again, Lynn.

Okay, appreciate you.

Item 10, the monthly staff report.

Um so really um yeah, if if you go to the next one, next one.

Okay.

So I think I think you already hit the highlights on on this in our uh Tao report.

I mean, she she briefed you on uh moating uh and the urban renewal plans, and uh so that that kind of covered what TDA would cover, so unless you had additional questions on urban renewal or moating.

Um and also she she also covered the Archer uh property RFPs, and those are really th the three key things in the Moton, or excuse me, in the in the in the TDA ro uh staff report.

Uh and again on community development.

Um, you know, Inez went over the community impact initiative progress, and we told you about um the Kirkpatrick Heights and our legacy Tulsa dot org website.

Um so just uh if you had any other questions about uh Kirkpatrick Heights, um uh that's really it for the staff report.

Well just one other footnote in the earlier meeting we talked about urban renewal plans.

Yeah, we are trying to visit uh on Crossbury Heights.

We're trying to get something square we would uh agree with as well.

Um those plans we used to call sector plans.

I had a brain fog earlier when Tyler asked the course in the other meeting about what we used to use.

Sector plans what we used to call them, but the official name by statute, what we have to use and communicate our our urban renewal plans.

So just for what a record.

Yeah, and on the we did have another, we do have another the Greenwood Unity Heritage that we would like to move forward.

Vicky attempted to contact the counselor.

The counselor said she did not want to have any kind of a discussion around it, so Vicky is now we're gonna focus in on Crosby Heights uh for now with Councillor Bellis, and hopefully we can move that forward and then at some point hopefully we can have a productive conversation on the Greenwood Unity Heritage.

Right.

Great.

Thank you.

Any questions of of Garrett?

I just a real quick uh update, Gary.

I know you have been looking at this kind of goes to the budget.

Again, thank you for your work on that.

Um really Lynn's working.

Yeah, I I know the team up for yeah, thank you guys for that.

Um I know that there was gonna be some research being done about historic revenue streams for TDA, current ones, potential future ones.

Do you guys have an update on that work or no?

I think and both Lynn and I had done some initial work on that.

Um and so Lynn had pulled some historic uh she put together some historic charts.

I'd actually started putting together some historic information around just TDA in general, or the history of TDA, uh, pulling from some old uh actually um uh Damari got me access to before Damari left, he had uh from his TDA role, he had assembled a lot of the records and put those on our shared.

So I'd I'd gone through some of those and started putting putting together some historical information, and Lynn had began putting together some historic charts on that, but uh we kind of haven't um re uh kind of uh reconvened as staff with Renita to kind of talk about what the next steps are on that, but we have been working on it.

Okay, good, yeah.

I know it's always been we I feel like we always talk about it, so yeah, we'd love to I I think we we just need to we didn't just need to go back to Lynn and I and Renina and I need to meet back and talk about what um again Lynn's put together some stuff.

I put together some stuff, and so Renita had an idea in her mind, and so we just haven't had a chance to sit back with Renita, and we'll come forward at some point in maybe a few months.

Um we'll come forward with some kind of um plan going forward to talk about some of that um the future of TDA, and I think some of that again kind of circles around going back to looking at some of the business case for assets that we own, like Lansing.

I'm not I personally don't understand what our business case is for that.

It's essentially it's essentially even um so you know I think we need to talk about well, why do we own it?

Some of those kind of things around, and then that will also translate into revenue for TDA.

So to that point too, uh part of broader discussion at some point.

We we had two corporations that we had established that were tied with with uptown renaissance.

That was a viable corp corporation that could be used for development for Crockman from wrong, which I those likewise of going to funk or whatever, but there were two corporations that we had uh that we use for that could be used for external development.

I think we want to look at that.

I mean, we do want to look at those at those development corporations, but I think we need to we need to have time to dig into um you know the legal side of what that would look like.

Um but I we have talked about that as an opportunity for TDA, and um, so I just think we need to we we need to have a um some opportunity to to focus on that.

Um those have been dissolved too when the uh loans were paid off and everything purpose no longer existed and we're to form new ones if you want to have that capability.

The other item I had a question.

This this could be new business or I just just general commentary.

Um this is a bigger picture thought is that I I know one of our roles here is to we have lots and we go on a contract for the sale of that lots with um and I think we do a really good job of like doing that with with developers that don't have a lot of experience and we see potential and supporting that, and it's part of like our mission or global TDA is to kind of help you know seed those folks and um I know we do you know on a pretty frequent basis we do end up having to terminate those contract for sale and we do that I think very gracefully and graciously with with the developers and it's all on good terms and stuff like that because of roadblocks that they have hit.

And so I just I just wonder, not and I don't I don't think we have the capacity right now to be like you know, how can we further support those folks?

I think, but I also think there are other agencies and issues out there that have been talking about how do we build that developer ecosystem, how do we support all levels, small and large developers?

And I feel like we have a we have maybe some pretty good pulse or at least contacts of because we're kind of in the trenches with that.

And I just wonder if there's any way.

I think it's uh first thing always comes to my mind when we get into this, is just like how many contracts a year do we do we go under with with land sale, and then how many of those to have to get terminated?

Is it just a data point?

And then is there any way of tracking like why some of the some of the friction points and and I know we very low bandwidth and all that sort of thing, but I just feel like we have a very unique position to understand um the challenges and and and like I said, I know there are other entities looking at how can we overcome those.

So just it's just a it's just a thought I want to like throw out there.

I've gone out and have the developer, the builders, yeah.

And Demari may have done some of that with me and Casey Stowe.

Um these are just very ground level people who are trying to build houses have a they're trying to raise themselves out of you know you know, being an employee to being an entrepreneur at some level, and I don't think they failed any greater rate than most entrepreneurs do.

I mean, they're just they're trying to go to prosperity bank and go loan and they're trying to figure it out and get a design, and they're just blocking tackling.

Um, the with the ones that do get something built is great because they do make money on them.

You know, I had a good conversation with the gentleman on Saturday after we were at that uh under black manipulation thing.

And uh he wants to be a builder, and it's amazing, but he just doesn't know the pathways to go with those.

Call the vice president of the bank who will then lend him the money, who will then you know, and so it's stuff that I think a lot of us would find simple that is mysterious, and I know the work that Demarian Casey did was trying to demystify it so they couldn't get there because they built one, they can build 20 more.

You know, and I always we have 600 lots or whatever we used to have, not all of them are buildable, but you know, if you build 200 homes and they average 225,000 dollars, 250 is easy math.

That's 50 million dollars invested in North Tulson, all of it is federally subsidized because it's all FHA loans.

But if we're not helping them do it, it's not gonna get done.

And if we said and tell, you know, if we announced a $50 million investment in North Tulsa today, people would go crazy, right?

But it's a subtle, easy way to do it, and we're we're not doing a great job of helping them have success.

Well, I think that's and I like I said, I'm not critiquing you guys.

We don't have the resources.

That's not simple thing.

But there was much more.

That's kind of where it's going with us.

It's like if there was a way for us to kind of be able to articulate and I think is you know, and like we've interact with developers, we understand these friction points, but there's a way I I just think there's like a way of like we can articulate those clearly to other folks that have capacity that have been asking pretty frequently in recent time about how can we help.

I feel like we have a potential to like, hey, we can help buy, we need a short list of banks, uh we need to build those contacts that network.

Like, is there I just uh it was like a big picture question of like how we could be a microadmirts.

Remember, Michael, who tried to do the modem project, trying to do a different project.

The bank he had lined up out of Atlanta was charging like 13%.

I'm like, that's the most important thing.

I mean, like it's amazing that that, and he's a he's a business guy, but um you know it would be great if there was an ecosystem of local banks, local builders as resources to these people who do want to take the time to build a house in North Tulsa because they're one-offs.

I mean, each one of them the lots aren't configured the same either, but every time we build one, you don't have an empty lot and you have a family that actually builds that wallet again, and someone who's gonna go shop and someone's gonna do things.

So it's worth it, but it's one at a time.

That's a good point.

I don't know.

Mia had James at some time we were talking about saving lots and so forth.

Have some conversation about similar to what you were saying, Jennifer, about building out some of that educational aspect of it.

But like Steve said you had these one-offs.

And you don't have a mass number that you can put you know 15 houses in one spot.

You can't maintain overhead, right?

You can't have a company with the guy.

Yeah, yeah.

It's just you have enough of those one-offs, and it's like there's so many lessons learned from the failures that need to be passed to the next car, next developer trying to do it or start.

Yeah, every time we terminate they're reinventing the wheel every time.

Yeah, other than I just feel like we have a very unique insight because we feel on the ground with with folks that are trying to do this, and we have relationships with them at least short term, if not long term, to just be able to like bring that bring that valuable information to Florida, then help folks that are working in it with much more resources and it'd be great if one of the foundations would subsidize a role of the TDA that did that.

Yeah, but they're busy saying oh, we can build 200 apartments in so even they don't want to.

I mean, I don't blame them either.

It's just tiny, right?

Yeah, as a challenge.

It is life-changing for these guys if they can start building three houses a year, they can make the real money.

Yeah, that's that's part of a good discussion.

As much as we add that well, document and then says we look at that and uh come back to that again because that has some short-term, long-term.

Well, and DeMar, tell me if I'm wrong, but and I did give this gentleman this advice, but I don't remember, and I go back to Ogden Circle and all those things years ago.

I don't ever remember us helping someone build a house that didn't sell.

Like ever being a failure.

You know, we gotta build the right house.

I said, Don't build a 450,000 house because that's not the market, and it's too big for the FHA loan.

You gotta build within the parameters of what's subsidized and set up for you.

You know, and they used to have this 3% issue that no one ever had the down payment.

Well now, according to prosperity, there's some of these loans that the federal government has that you don't have to have the down payment.

Um I think it's sub 275,000 dollars if I remember right.

Um, but every time one gets built, there's a family that wants to buy it.

Yeah, waiting for a couple programs that they're trying to have right now.

Right.

Discussion, good discussion.

I don't want to move on.

I don't want to end this discussion, but uh good discussion.

I just if you had a board of retreating.

We have board retreat and talk about that too.

So okay, that uh anything else uh for for for Gary and the management and senior leadership team.

Okay.

Uh item number 11, uh commission request future agenda items relevant to commission business.

Do you have such items?

I mean I think that was I was just on that item.

Do we have anything else in the new business?

I know we got a lot of business, but do we add a new business?

Okay, hearing none, uh we will officially call this meeting to adjourn unless there are some objections.

Thanks everybody, appreciate you.

Together we can make