Oklahoma City Council approves transfer of $80 Million to MAPS 4 Investment and Operating Trust
Funds will provide for long-term operations and maintenance
Post Date:03/01/2022 3:30 PM
The Oklahoma City Council on Tuesday voted to approve a transfer of $80 million from Oklahoma City MAPS 4
sales tax collections to the administration of the MAPS 4 Investment and Operating Trust.
These funds will be invested and managed to provide a steady funding stream for the operations and
maintenance of some MAPS 4 projects long after the temporary MAPS 4 sales tax collection has concluded.
In December 2019, voters approved MAPS 4 with 72 percent of the vote. This fourth iteration of the MAPS
program included for the first time this innovative new wrinkle, and in total, $110.5 million in MAPS 4 funds are set
aside for this purpose.
The management of the funds is being overseen by the MAPS 4 Investment and Operating Trust.
A conservative spending policy is provided for and will ensure that the distributions are consistent year-to-year
and do not diminish the original funds.
“MAPS 4 was designed to not only build up our city with capital projects but also to sustain those projects for the
long-term,” said Oklahoma City Mayor David Holt. “With the first transfer of funds to the MAPS 4 Investment and
Operating Trust, today marks a notable development in the MAPS 4 program. I’m very proud of this fiscally prudent
approach that I think will become a national model, and I know future policymakers in our city will appreciate it deeply.
I’m grateful to City staff and members of the Trust for their input and oversight throughout this process.”
Tuesday’s transfer is the first, as scheduled by the MAPS 4 Implementation Plan previously adopted by Council. The
remaining funds are scheduled to be transferred at a later date. The eventual investment proceeds from the $80 million
transferred Tuesday will support MAPS 4 projects as identified below:
$21 million for the operations of the Henrietta B. Foster Center for northeast small business development and
entrepreneurship and an innovation hall to facilitate activities to grow the City’s innovation economy.
$15 million to provide financial assistance for low-income seniors using the MAPS 3 and MAPS 4 Senior Health
and Wellness Centers.
$5 million for the operations and maintenance of MAPS 4 Beautification projects. The operating fund will
provide permanent City staff dedicated to beautification. The maintenance fund will provide ongoing maintenance
as funds allow.
$9 million for the operations of the MAPS 4 Clara Luper Civil Rights Center. The MAPS 4 Civil Rights Center is
anticipated to be an interpretive museum and community gathering space.
$30 million for the operations of the MAPS 4 Youth Center..
“Continuing to invest in MAPS programs keeps our city moving forward,” MAPS 4 Investment and Operating Trust Chair
Teresa Rose said. “These funds will not only help support day-to-day operations for these MAPS 4 projects, but also
ensure the long-term success of the initial investment by providing crucial support for maintenance and beautification
initiatives.”
The MAPS 4 Citizens Advisory Board recommended approval for transferring sales tax collection funds on February 9, 2022.
The 2019 MAPS 4 Resolution states the intent of the Oklahoma City Council to allocate MAPS 4 sales tax collections to a
fund to provide for the operations and maintenance of several MAPS 4 projects.
MAPS 4 uses cash to fund 16 debt-free, pay-as-you-go projects. You can view the MAPS 4 Implementation Plan, MAPS
4 Program Schedule, and projects at okc.gov/maps4.
About MAPS 4 MAPS 4 is a debt-free public improvement program funded by a temporary penny sales tax that will raise a projected $978
million over eight years.
Oklahoma City voters approved the sales tax to fund MAPS 4 in a special election on Dec. 10, 2019, moving forward with a unique
and ambitious plan to transform our community. The temporary penny sales tax funding MAPS 4 began April 1, 2020, and ends
in 2028.
More than 70 percent of MAPS 4 funding is dedicated to neighborhood and human needs. The rest is for quality of life and
job-creating initiatives. The MAPS 4 Citizens Advisory Board and its six subcommittees will guide MAPS 4 planning and implemen-
tation, making recommendations to the City Council. The Council has final authority on MAPS 4.
The MAPS Investment and Operating Trust will develop a strategic investment plan to support long-term sustainable funding for
MAPS 4 projects' operational expenses and maintenance.
Visit
https://www.okc.gov/government/maps-4/ for more.
Oklahoma City Innovation District/Innovation Hall & Hotel. MAPS 4 would create Innovation Hall, a structure that would serve as the district’s epicenter with eating places, meeting rooms
and public spaces that foster social interaction. Other MAPS 4 projects would make improvements to the NE 10th Street bridge
spanning Interstate 235 to allow for pedestrian traffic and link the area with downtown Oklahoma City.
The plan would also provide for the renovation of Washington Park at 400 N. High Ave., as well as the renovation of the Henrietta
B. Foster Center to create a minority entrepreneurship center.
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