The Tulsa Forum by TulsaNow

Who monitors how the Vision 2025 monies are being spent? Is there any accontability to see that the monies are being or were being spent as promised by the individuals who received them?

Does anyone know how to find a list of the expenditures?

Of course not. all v2025 monies are disbursed his way:
(http://www.cashcube.com/images/400_Money_Machine_CashCube.jpg)

Lima,

Is this what you are looking for?

http://www.vision2025.info/includes/pages/monthlyprogramreports/uploads/01/file.pdf

June 2009 report.

Kirby Crowe of PMg is a regular reader of this forum and occasional contributor.  I believe he's essentially the project manager for V-2025.

2025 needs to tout their achievements and show their continuing progress.  I'm fairly involved with things and try to keep up, but even I forget that money is still flowing and flowing out to things other than to pay for bonds on completed construction.  Toot the horn every now and then!

I'm still waiting for Michael Sager to tout his Vision2025 funded project as completed...couldnt hold my breath any longer though waiting for it.  But to do that, he will have to likely find more money to actually finish it and then promote what he has described will be $222,000 units.  So far, not impressed...and he's due to start repaying that no interest loan within the next couple of years...yikes?!  Can anyone say default?  Oh wait, Vision2025 apparently doesnth have a process or guidlines to deal with those things according to one person who sat on the Downtown Housing selection committee. 

The same issue came up when Kanbar decided to give back its awarded loan amount from the downtown housing funds...there were no processes or guidelines in place to redistribute the monies.  Its a question where they ended up ultimately.

Overall though, Vision2025 seems to have accomplished a many of its goals...the real question is, when do we start seeing a benefit from them?

Well, we have that Meadow Gold clock tower over off 11th and Peoria. ;) The pigeons are quite pleased. Ironically, the residents of the cemetary have the best view of the time now.

Per the 1st Street Lofts:

2006:
Sager builds on sense of community: Two loft projects cap downtown (http://findarticles.com/p/articles/mi_qn4182/is_20060828/ai_n16694369/)

2007:
Tulsa's Sager lofts project back on track (http://findarticles.com/p/articles/mi_qn4182/is_20070927/ai_n21025352/)

2008:
Lofts project gets going  (http://www.tulsaworld.com/business/article.aspx?articleID=20080419_32_E1_spancl312600)

2009:
Starting the residential ball rolling (http://www.journalrecord.com/article.cfm?recid=100026) (subscription only)

I have no reason to hate on this guy.  I don't really know him.  But the progression of headlines is kinda funny.  The website is still largely a blank slate too:
http://www.firststlofts.com/

Contracting for V2025 really should have had some kind of time line attached to it.  Anyone heard of anything like a time line for these lofts?

Sager isn't one of the better credit risks in Tulsa.

Well, the dozens of top level concerts that have played the BOK in the past year seem like a pretty big benefit to me - not the mention the impressive lineup scheduled for the next 2 1/2 months.  Prior to the BOK, few if any of those acts would have played in Tulsa.

The Mayo Hotel/Lofts and the Mayo Building are coming back to life after being shuttered for decades.  That seems like a pretty big benefit that I don't believe would have happened but for V2025.

The Atlas Life Building is finding new life as a hotel - would not have happened but for V2025.

The former Holiday Inn, etc. at 7th & Boulder may finally be made viable and attractive (relatively speaking) - would not have happened but for V2025.

While ONG Field is controversial to some, I doubt it would have happened downtown but for V2025.

Many things appear to be starting to happen in the Brady District after a long lull.

Yes, I wish more was happening and happening faster.  However, since since Sept. 2007 funding for large projects has been a struggle.  Plus, I think the reopening of the remodeled/enlarged convention center will be a much larger driver of development than the BOK alone.  It sucks that Tulsa got so far behind and our downtown sat idle for so long.  Just because we have so far yet to go does not mean we should lose sight of how much progress we have made the past few years.

And goodness, dont forget the college expansions. Those are positives that will pay off for decades to come. Tulsa is still lagging in what we offer per our universities, but vision 2025 was a thankful bit of progress on that front. 

We have the best endowed, most selective, and highest rated University in the State sharing our city's name.   ;D

But per public institutions, yes.  I wholeheartedly agree.  Too bad we have 5 different ones (RSU, NSU, Langston, OSU Tulsa, OU Tulsa) instead of Eastern Oklahoma University (or whatever) being a third major State University. 

Vision 2025 is a Tulsa County sales tax and as such the County is responsible for the expenditures. To accomplish this, the County contracts with The Program Management Group (PMg) to administer the program which includes monitoring all projects, review all payments and planning for reporting of the program.  Annual audit tasks fall to the State Auditors Office who audits Tulsa County and an independent firm who is responsible for auditing the Tulsa County Industrial Authority (the financing authority of the County) both of which proof the program in accordance with audit standards.   

In addition Tulsa County created a 24 member Sales Tax Overview committee to monitor expenditures who reports monthly to the County in public meeting.  In fact the STOC met at the new Broken Arrow Historical Museum this week (building construction funded by Vision 2025) for it's monthly meeting and following the meeting including presentation and acceptance of the monthly report (June 09) toured the museum and adjacent Vision funded farmers Market pavilions and plaza.

For reference both the current PMg monthly report is posted on http://www.vision2025.info/ (http://www.vision2025.info/) the PDF file is large but contains the past months list of expenditures, at this point we are past the peak of activity.  The complete reports (from the first preliminary report through the current June 2009 report are on file at the downtown library's resource desk.  If you have specific question a project on expenditure you may email us via the contact by the contact button on http://www.vision2025.info/ (http://www.vision2025.info/)or contact me directly through this site and we will do our best to help you in a timely manor.

We do our best to provide timely accurate reporting in a transparent methodology and because we can't think of everything, if we do not address something in our reports that you believe important we do take and act on viable suggestions… and some of the best have comments and requests have come from critics of Vision 2025!

Kirby Crowe, Vision2025 Program Director

Ps.  The total list of expenditures now exceeds some 7000 individual payments totaling in excess of $509.8 million if you have a specific project of expenditure concern please let us know as we follow up on all concerns we receive.

Mr. Sager is only partially to blame for the majority of the initial delay in getting his project started and yes all Vision project master agreements have either a required time for completion included in them or as was the case on the downtown housing program a maximum payment schedule included which could not be exceeded for cash flow purposes by the City which was never pushed due to their getting a significantly late start in releasing projects (a multitude of TDA related reasons from my observation) and The first Street lofts project was the first which required a steep learning curve. 

FYI if any of the funds are not repaid the City/TDA holds an enforceable mortgage on the building.

why, we had a "touting" meeting just yesterday... the 2009 project report/newsletter is in development and is scheduled for delivery before the 2009 Tulsa State Fair. 

Vision2025, thank you for the great information.  But could you please explain why in the case of Sager's First Street Lofts he is nowhere near completion?  The new Oneok Field is moving faster and is further along that the lofts project and it started just this year.  Was a construction timeline provided for any of the residential developments in the proposals that received Vision 2025 funding?

How was the Vision2025 committee assured that those proposing residential redevelopment had the necessary funding in place to complete the job as required?  What criteria was used to determine viability of projects?  (not only completion but long term, sustained viability through the rental period and subsequent repayment) 

I have seen the proposal submitted by Michael Sager...to say it was lacking is an understatement.  A 5-6 page, bound in plastic cover presentation that contained pictures of the building (loved the one of the 'Sager' name stone btw), a one page very general synopsis of the project scope, no financials (either personal or company), a letter from Jamie Jameson of the Village at Central Park supporting the development and no 5 or 10 year perspective business plan proving sustained economic viability of the project.

Now I'm hoping Michael Sager can complete the project, would be a waste if he couldnt.  But today, what proof does the Vision2025 downtown housing committee have that the project will be completed?

I only ask because I find myself chuckling to read in the Journal Record that the reason for the delay is because they took out every brick (brick by brick) from the exterior, cleaned it, sealed it, replaced it and mortared it back in - NEVER happened.  Mayor Hotel is moving right along and has units completed, the Mayo Building also is closer to completion...and these all started after and have far more units than the 19 in First Street Lofts.

Just curious...

Huh, huh, uh, he said: "Best endowed" huh, uh, huh, heh

(http://www.crabsodyinblue.com/butthead.jpg)

Hopefully that worked my comments are in red

RM, I think you are correct, good sleuthing.

Saw Sager on this Channel 2 story about downtown development and the ballpark.
http://www.kjrh.com/news/local/story/Drillers-stadium-prompting-downtown-development/4X1-MiQSN0WAahf6JnTvSQ.cspx

It's not in the text version of the story, but Sager said he's "considering doing geothermal."

This place is gonna be the best building the history of the world when it opens in 2054. I better hurry up and get a lease signed.

But seriously, anybody got any idea when it will open?

Quote of the week.

From Urban Tulsa: here's the latest on Sager's Spruce Goose... I mean First Street Lofts.  Now it includes "enormous glass portals," yes geothermal wells, and "a fully finished, 49-person deck with a lighthouse-type stairwell capping the five-story structure."

Opening Spring 2011?

http://www.urbantulsa.com/gyrobase/Content?oid=oid%3A31241

$250K for the geothermal.  That's going to be one long pay-back unless he's getting big tax credits for it.

that's the "enormous glass portals"
(http://www.urbantulsa.com/binary/715c/citylofts.jpg)
essentially it's a sliding glass window, with a glass half-wall outside of it to keep you from falling out.

Wow. What a view!

You mean how the tree line sweeps along the mountains just below the snow caps and the picturesque lake?

Yeah, my breath is taken.