TAEO Regular Board Meeting - May 28, 2026

The Tulsa Authority for Economic Opportunity (TAEO) held its regular board meeting on May 28, 2026, to discuss and approve a consent agenda, a new executive director agreement, fiscal year 2027 budgets, a development financing agreement for a downtown parking garage, and various staff reports. The meeting also recognized outgoing trustee Ellion Hurtada for her service.

Consent Calendar

• The board unanimously approved the consent agenda (items A through K) without discussion or removal of items.

Discussion Items

• Item 5 – Executive Director Agreement: The board discussed and approved a formal agreement with Renita Wayne to serve as executive director. Trustees thanked Ms. Wayne for her patience and service.
• Item 6 – Municipal Employees Retirement Plan Administration Services Agreement: The board approved a new agreement memorializing existing expectations between TAEO and the City of Tulsa for the retirement plan.
• Item 7 – Fiscal Year 2027 Operating Budget: Lynn presented the proposed budget showing an approximately $800,000 surplus, driven by increased parking and tech revenues. Adjustments included higher salary overhead and a parking budget increase from $300,000 to $600,000 for the Civic Center. The finance committee had reviewed it.
• Item 8 – Fiscal Year 2027 Grants Fund Budget: The board approved a grants fund budget with zero net income, moving Build Back Better funds from operating to grants for clearer reporting.
• Item 9 – Fiscal Year 2027 Parking Project Capital Expenditures Budget: The board approved a $1.187 million capital budget for parking projects, funded without dipping into reserves or investment accounts.
• Item 10 – Neon Quarter Community Impact Initiative Project Agreement: The board approved a $30,000 grant to the Neon Quarter Neighborhood Association as part of the second cohort of the Community Impact Initiative, which aims to build neighborhood capacity through small-scale projects.
• Item 11 – MacArthur Foundation Loan Agreement: This item was pulled from the agenda and not considered.
• Item 12 – Development Financing Agreement with Price Family Properties: The board approved a development assistance agreement for a structured parking garage at 7th and Boulder in the East End TIF district. The project involves $35 million private investment, 1,000 new jobs, and $3.234 million in TIF assistance (below the one-third public cost threshold). The current TIF cash balance is $4.1 million.
• Item 13 – Executive Session: The board voted unanimously to enter executive session to discuss potential sale and lease of real property.
• Item 15 – Parking Report: Lynn provided a monthly parking revenue report included in informational packets.
• Item 16 – Q3 Financial Statements: Lynn presented flux explanations for the balance sheet, noting increases in debt due to WPX/22 North Detroit bonds and developer assistance breakdowns by TIF district.
• Item 17 – Staff Report: Renita reported on fiscal year 2027 planning, a ~21% health insurance cost increase, current headcount of 19, new hires (Maria Almeida as Director of Small Business and Entrepreneurship, John Taker, and intern Sheena), a marketing intern (Betty) who drove 118% increase in engagements, and updates on affordable housing and incentives. Mike reported on Fair Oaks project advancing to L-Dark stage, downtown Phil Cade developer discussions, and new project plans in District 7 and Osage County. Inez updated on the Community Impact Initiative cohort training. Gretchen reported progress on the Kirkpatrick Heights/Crimson Master Plan implementation grant and an upcoming $80,000 contract addition for infrastructure analysis.

Key Outcomes

• Consent agenda: Approved unanimously.
• Item 5 (Executive Director Agreement): Approved unanimously.
• Item 6 (Retirement Plan Agreement): Approved unanimously.
• Item 7 (FY27 Operating Budget): Approved unanimously.
• Item 8 (Grants Fund Budget): Approved unanimously.
• Item 9 (Parking Capital Expenditures): Approved unanimously.
• Item 10 (Neon Quarter Grant): Approved unanimously.
• Item 12 (Price Family Properties Development Agreement): Approved unanimously.
• Item 13 (Executive Session): Approved unanimously.
• Item 11 (MacArthur Loan): Pulled; no action taken.
• The board recognized trustee Ellion Hurtada for her decade of service and advocacy, notably for hiring a bilingual small business director.
• Next steps include finalizing the MacArthur loan agreement for JustHome, continuing community engagement on the Kirkpatrick Heights/Crimson Master Plan, and moving forward with the new development project plans.