MAPS Trust sets FY2027 distribution at 4% after debate on rollforward rules

The Oklahoma City MAPS Investment and Operating Trust approved a resolution on Feb. 16 authorizing distributions for fiscal year 2027 equal to at least 4% of the investment pool's average market value, after trustees debated how unused prior‑year allocations should be handled.

Randall Lewis, assistant finance director, introduced the resolution and explained the dollar figure in the draft resolution was left blank so trustees could set a distribution percentage. "The resolution is written in a way where the dollar figure is blank, and so we're looking for a distribution percentage from the trust to allocate potentially to the projects," Lewis said.

Trustees examined which projects are likely to request funds in the coming year. Lewis said Innovation and Beautification had received distributions this year; Civil Rights has executed its operating agreement and is likely to request funds; the Family Justice Center may come online in late 2026 or early 2027 and might not need a distribution immediately.

Trustees also discussed whether unused allocations from prior years should be aggregated and made available as a larger single draw for operators. A trustee warned that allowing rollforward aggregation could create unsustainable expectations: "I was allocated 4% last year, and I didn't need it... I'm not intending to give them the 8% this year," the trustee said, urging clarity in the spending policy. Staff replied that current practice has not aggregated distributions across years for continuous pull‑down and recommended drafting policy language to address aggregation and rollforward.

After discussion and a motion, the trust voted to set the distribution percentage at 4% for FY2027 and asked staff to notify city project partners and to prepare recommended spending‑policy language clarifying aggregation/rollforward rules.

Next steps: staff will send distribution notices to city partners, model the allocation impact at the approved percentage, and draft spending‑policy language for future trustee consideration.