Novus Homes Files Suit Against TDA

[Gaspar]

Untold dollars have been wasted by developers in an attempt to satisfy a group that in most cases has no intension of being satisfied. 

Justifying their existence by continuously failing to complete their mission. 

[waterboy]

I agree. Why must it continue?

[sgrizzle]

Added bonus, now everyone has Wil Wilkins' Cricket cell #

[Rico]

The solution to the TDA is simple.

Pull the plug.

This "Authority?" has been brain dead for some time.

[Conan71]

I'm going to cut against the grain here.  Will, I feel for you and I think the TDA is a disgusting shame.

However, given current budget woes, how far do you intend to push this?  Would $46K not cover your expenses you were out on this project at the point TDA quit negotiating?  I totally understand that you stood to make far more than that if the development had gone forward.  I don't have a problem with you being reimbursed any actual costs you were out, but if you are angling toward recovering the profit you hoped to gain by completing the project I think there are a lot of people who would have a problem with you pushing this further.

Please clarify what you are hoping to gain from this, actual cost recovery or punitive damages and projected losses?

[Rico]

I'm hoping he is after "punitive damages" and the Judge already knows about the CDBG mess..

[waterboy]

So, Conan, justice depends on economic conditions?

[Conan71]

I'm hoping he is after "punitive damages" and the Judge already knows about the CDBG mess..

Even at a larger expense to taxpayers?

[Rico]

Even at a larger expense to taxpayers?

At this point, it will take something to make people more aware of the problem. If that be tax money so be it.

[TheLofts@120]

Conan

I appreciate your comments and as litigation is still on going, I do have to keep any comments regarding specifics brief in nature.  I will, however, say this...the offer extended as represented in the Tulsa World article was not deemed sufficient and therefore, was refused by the Plaintiffs.  I will also mention that while we, as Plaintiffs, feel we have a very good case, we did not enter mediation with the intention of fully recovering potential lost earnings on the development had it been completed - though that may be entirely possible under the law and given that our case survived TDA's motion for summary judgement.  I cant provide you specifics as to why it survived due to the ongong litigation, but suffice it to say, some of our claims survived - negligence and promisory estoppel.

That being said, litigation was not entered into lightly by any means.  TDA took actions we deemed required action to protect our interests, as well as those of other potential future developers, and we are prepared to carry it to trial if necessary.  Punitive damages, if awarded to a prevailing party, exist for the simple purpose of detering similar such future actions by the losing party.  They are awarded by a jury or judge on the merits of the case and established law.

It was our intention to work with the TDA in good faith to develop a project that would benefit the City of Tulsa's tax base (ad valorem, sales & hotel), assist in downtown's revitalization, bring jobs and much needed residential, commercial and hotel space to an area lacking such.  It is still our desire to work with the TDA to do just that, on this site...that has never waivered.  

Aside from that, I do want to inform you that today's City of Tulsa budget crisis and the economic downturn really have no bearing on TDA and its financial status.  While it may benefit the City of Tulsa in the sense that it is supposed to act to remove blight and promote economic development and investment, it is a separate and independent authority created under state statute.  Its principal means of income would appear to be through the sale and lease of various properties it has acquired over the years as an urban renewal authority, sub-grants of Federal funds (CDBG and others most likely) and sales tax projects assigned to it (see link).

To the best of my knowledge, any award from TDA would not impact the City of Tulsa budget.

For more information on TDA's current financials and its operations, you may want to check out the latest financial filing (2009) with the City of Tulsa:

http://cityoftulsa.org/media/74406/tda%20report%202009%20final.pdf

[Conan71]

Will, thanks for stepping up and explaining as much as ongoing litigation will allow.  I have to say I've still got some mixed thoughts on it, but I'm sufficiently angry with the operation (or dysfunction) of TDA.