Tulsa Authority for Economic Opportunity Board Meeting – June 25, 2026

The Tulsa Authority for Economic Opportunity (TAO) held its regular board meeting on Thursday, June 25, 2026, at 3:00 PM CT. The board approved several key items including a new financial management software contract, a lease amendment for office relocation, an affordable housing trust fund administrative fee adjustment, and two agreements totaling $2 million for the Just Home Project to provide housing for justice-involved individuals. The meeting also included financial updates, staff reports, and a farewell to retiring senior vice president Vicky.

Consent Calendar

• The board unanimously approved the consent agenda (items A through F) with no items removed for separate discussion. All trustees present voted in favor.

Discussion Items

• GovSense Platform Agreement (Item 5): Staff presented a proposal for a cloud-based government resource planning (GRP) tool to replace the previous accounting system handled by the City of Tulsa. The total cost is not to exceed $136,240, which includes $81,000 for implementation, a first-year annual subscription fee of $54,640, and $7,500 for in-person training. The tool is built on Oracle and aims to improve financial management, transparency, and efficiency. The agreement is for one year with an annual renewal; a 3% increase per year is anticipated. Trustees raised questions about cloud security, multi-year discounts, and the need to review the actual contract. After discussion, the board approved the motion unanimously.
• Lease Amendment – Fourth Amendment (Item 6): Staff proposed moving TAO’s offices from the 7th floor to the 11th floor of the same building, increasing square footage from 4,146 to approximately 6,222 square feet at no additional rent cost for the current year. The move, prompted by tenant Sixth’s expansion, will be at no cost to TAO. The original amendment in the board packet did not reflect the move details; an updated version was provided during the meeting. The board approved the amended lease agreement unanimously.
• Affordable Housing Trust Fund Administration Fee (Item 7): Staff requested simplifying the administrative fee structure from a 1% fee plus an additional 3% for specific work to a flat 4% fee, consistent with other programs. The board approved this amendment unanimously.
• Just Home Project – Loan Agreement with MacArthur Foundation (Item 8): Vicky and Nia presented the Just Home Project, which aims to provide housing and services to justice-involved individuals exiting incarceration. The MacArthur Foundation will loan TAO up to $2 million at 1% interest over 10 years. TAO will then sub-loan those funds to developer Robinsons Properties in two tranches: $1 million for the first phase (rehab of two properties, yielding 10 units) and the second $1 million for the second phase (809 North Birmingham Avenue, yielding 13 units). The developer will pay TAO interest quarterly plus an administrative fee (1% on outstanding up to $25,000, then 0.5%). Personal guarantees and first mortgages protect TAO’s investment. Trustees discussed balloon payment risk, the need for construction inspection protocols, and the lack of a competitive RFP process. The board voted unanimously to approve the loan agreement.
• Just Home Project – Development Agreement (Item 9): This agreement with Robinsons Properties covers the terms for the sub-loan and development of the 23 units. Additional protections include a 10-year affordability covenant and annual compliance reports. The board approved this agreement unanimously.
• Financial Review (Item 10): Staff reported revenues of $494,000 and expenses of $337,000 for the month. Revenues included $60,000 from incentive application invoices. No unusual expenses were noted. The organization remains in good financial shape.
• Monthly Staff Report (Item 11): Staff provided updates on internal operations: creation of a new TAO policy handbook, collaboration with City of Tulsa, Regional Chamber, and GKF on a streamlined partner ecosystem, and a website revamp. Projects highlighted include Faroaks, Downtown Redevelopment (Philcade Building), Crutchfield, and two new district 7 projects. The board was informed that Vicky is retiring effective June 30, and Nia will be promoted to Senior Vice President of Real Estate and Asset Management.

Key Outcomes

• Consent agenda (Items A-F): Approved unanimously.
• GovSense Agreement (Item 5): Approved unanimously. The contract is for one year with a 3% annual renewal increment; staff will explore multi-year discounts in future renewals.
• Fourth Lease Amendment (Item 6): Approved unanimously. TAO will relocate from the 7th to the 11th floor by September 1, 2026, with current rent unchanged for the first year.
• Affordable Housing Trust Fund Admin Fee (Item 7): Approved unanimously. Fee simplified to a flat 4%.
• MacArthur Loan Agreement (Item 8): Approved unanimously. $2 million loan at 1% interest over 10 years for the Just Home Project. Must still be approved by City Council.
• Development Agreement (Item 9): Approved unanimously. Robinsons Properties will develop 23 units for justice-involved individuals, with a ten-year affordability requirement.
• Staff transition: Vicky’s retirement recognized; Nia promoted to SVP effective July 1, 2026.