Trust approves $306.8M FY2027 budget driven by expected bond sales; soccer stadium funding highlighted

The Oklahoma City Economic Development Trust on June 16 approved a proposed FY2026–2027 budget totaling about $306.8 million, a staff presentation said, a 31.3% increase over last year largely attributable to expected bond proceeds and planned uses of fund balance.

Trust staff told trustees that the budget anticipates selling $50 million in affordable housing bonds next year and estimated an additional $20 million from a potential general obligation sale. Staff said interest and ad valorem growth are both conservatively budgeted at 2% and that the Trust will intentionally draw down fund balance to pay for major projects.

Trust staff identified the soccer stadium program as the largest single project expense next year, with $20 million budgeted from TIF 2 and $10 million from TIF 13. Staff also noted two new tax-increment financing districts coming online: TIF 18 (Northeast Renaissance volleyball site) and TIF 16 (the ad valorem component of the Okana site).

A trustee asked about a substantial increase in payments from the MAPS Investment Trust; staff explained the FY27 budget includes both the Clare Looper Civil Rights Center and Innovation Hall, which were not included in last year's budget, accounting for the revenue change.

Trustees moved, seconded and approved the FY2026–2027 budget as presented. Staff said the Trust will publish more detailed budget materials, including cash-flow slides and program-level breakdowns, and that bond-proceeds timing will be reflected in future reports.