Sooner Mall Tax Rebate Proposal Town Hall, 6/22/26

The City of Norman, Oklahoma held a town hall meeting on June 22, 2026, to discuss a proposed tax rebate agreement with Sooner Mall aimed at incentivizing capital investments to boost retail sales. The proposal involves a performance-based reimbursement of up to $300,000 annually over an initial five-year term, with two possible three-year extensions, contingent on achieving sales tax growth above a three-year baseline average. The rebate would come from 100% of the discretionary general fund sales tax growth generated by the mall's increased retail activity. City officials and mall management presented background on the mall's challenges, including the 2019 Sears vacancy and post-COVID sales declines, and cited examples of similar successful partnerships in Texas. The discussion included detailed financial projections, the importance of growing retail sales tax revenue to support city services, and concerns about the mall's future viability without such incentives. Public comments reflected mixed views on the appropriateness of using public funds to support a profitable business and the need for clear investment plans. The city council had previously approved a term sheet unanimously, and legal counsel confirmed the agreement could be approved independently of other development agreements.