A notice of default to the city of Norman has been filed regarding the Rock Creek Entertainment District project.\u00a0<\/p>\n
According to the notice, which was filed on April 24, if the Norman Tax Increment Finance Authority does not approve the phasing plan by May 24, the city could be sued.<\/p>\n
\u201cShould action not be taken on May 20th, the agreement may go into default; remedies provided for default can be dependent on what is decided in court and may include termination of the agreement and\/or damages and\/or equitable relief,\u201d City Attorney Rick Knighton wrote in an email to OU Daily on Thursday.<\/p>\n
A notice of default is a formal legal \u200b\u200bdocument filed with a court or public record office to indicate that a party has failed to meet its obligations under contract.<\/span><\/p>\n On April 22,\u00a0 Norman City Council postponed<\/a> voting on the phasing plan<\/a> for the Rock Creek Entertainment District to May 20. During the meeting, Knighton told council that they would likely receive a notice of default after postponing the vote.\u00a0<\/p>\n \u201cIf you postpone this item until May 20, \u2026 I would anticipate you will get a notice of default contract that would give you until the 24th,\u201d Knighton said. \u201cSo if you were to come back on the 20th and consider the matter, then that would not result in default in this contract.\u201d<\/p>\n Knighton said considering the phasing plan is a separate issue from the petition case.<\/p>\n \u201cI understand there is some concern about the pending issue with regard to the referendum petition. My comment on that would be that’s a totally separate issue. \u2026 It’s not going to impact how that case gets resolved,\u201d Knighton said.<\/p>\n Mayor Larry Heikkila, Ward 1 Councilmember Austin Ball, Ward 8 Councilmember Scott Dixon and Ward 6 Councilmember Joshua Hinkle voted against the postponement. Ward 7 Councilmember and Mayor-elect Stephen Tyler Holman, Ward 2 Councilmember Matt Peacock, Ward 3 Councilmember Bree Montoya, Ward 4 Councilmember Helen Grant and Ward 5 Councilmember Michael Nash voted in favor of the postponement.<\/span><\/p>\n Students pay about $14 in fees that support the Daily. If you’re not a student, please join those invested in OU and Norman who have given more than $125,000 in recent years to support our independent journalism. <\/p>\n