an allocation not to exceed $2,155,000, from the Increment
District No. 2, City of Oklahoma City, Residential Development costs category
established in the Amended and Restated Downtown/MAPS Economic Development
Project Plan (“Project Plan”) for assistance in development financing in support of the
700 West 4th Residential Project (“700 West Project”); and approving an allocation of
an amount not to exceed $2,000,000 from the Oklahoma City Affordable Housing Funds
allocated from the 2017 General Obligation-Limited Tax Bonds for the 700 West
Project to be constructed on a tract of land currently owned by OCURA located at the
southwest corner of Shartel Avenue and N.W. 4th Street, which project consists of the
acquisition of the property and the investment of approximately $52,606,000 in the
construction of 300 hundred apartment units with 72 apartment units being designated as
Affordable Housing Units by the Developer, 700 West 4th, LLC, whose principal
partner is Ronald Bradshaw. (TIF) (GOLT)
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