Oklahoma City Council today voted to revise the MAPS 4 implementation plan, increasing the estimated revenue projected for MAPS 4 by $100 million to almost $1.1 billion.
The increase is a result of strong sales tax revenue that exceeded estimates from April 2020 through July 2022 by approximately $12 million. Applying the same methodology originally used to project the MAPS 4 sales tax revenue, revised projections forecast the City will gain an additional $100 million over the life of the temporary sales tax.
“In addition to strong economic growth, some unique inflationary events happened these last two years, and they needed to be accounted for,” said Mayor David Holt. “Without a re-estimate and re-allocation, we were asking the MAPS 4 projects to face the downside of inflation without the upside we were seeing in sales tax revenues. Without this action, projects would have been scaled back at the same time we were sitting on record revenues. MAPS 4 was headed towards having an enormous excess revenue balance at the end of its collection in 2028, and though there are worse problems to have, that is not an ideal outcome; those funds should be available to the 16 priorities our voters endorsed in 2019. This action appropriately brings things back into balance, and I commend the City Manager, his finance team, the MAPS 4 leadership, and the Council for helping us come to such a thoughtful outcome, while still following the conservative fiscal philosophies that are so important. Once again, this City government is demonstrating why OKC is one of the best-managed cities in the country. In this case, we’ll see the benefits of that smart management in higher-quality MAPS projects, the flagship of our city’s renaissance for three decades.”
The increased projected revenue will be distributed among MAPS 4’s 16 projects based on each project’s proportional share of construction costs, with the exception of the Fairgrounds Coliseum and the Paycom Center/practice facility. Approximately $12 million of the Paycom Center’s revised projections will be distributed to the Fairgrounds Coliseum to help pay for higher than anticipated building costs.
“When estimating sales tax revenue over an eight-year period, you have to assume there will be downturns in the economy,” said Finance Director Brent Bryant. “That’s why we budget so conservatively.”
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Revised MAPS 4 Capital Projects Revenue Allocation
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2019 AllocationTotal
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Amended Revenues
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2022 AllocationTotal
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Parks
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$140,000,000
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$14,236,311
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$154,236,311
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Youth Centers
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$110,000,000
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$8,069,164
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$118,069,164
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Senior Wellness Center
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$30,000,000
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$1,729,109
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$31,729,109
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Mental Health & Addiction
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$40,000,000
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$4,610,951
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$44,610,951
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Family Justice Center
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$38,000,000
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$4,380,403
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$42,380,403
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Transit
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$87,000,000
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$10,028,818
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$97,028,818
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Sidewalks, Bike Lanes, Trails & Streetlights
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$87,000,000
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$9,567,723
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$96,567,723
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Homelessness
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$50,000,000
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$5,763,689
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$55,763,689
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Paycom Arena & Practice Facilities
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$115,000,000
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$1,193,084
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$116,193,084
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Animal Shelter
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$38,000,000
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$4,380,403
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$42,380,403
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Fairgrounds Coliseum
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$63,000,000
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$19,325,648
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$82,325,648
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Diversion Hub
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$17,000,000
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$1,959,654
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$18,959,654
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Innovation District
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$71,000,000
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$5,763,689
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$76,763,689
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Clara Luper Civil Rights Center
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$25,000,000
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$1,844,380
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$26,844,380
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Beautification
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$30,000,000
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$2,881,844
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$32,881,844
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Multipurpose Stadium
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$37,000,000
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$4,265,130
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$41,265,130
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$978,000,000
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$100,000,000
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$1,078,000,000
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“The unexpectedly brisk sales tax collection is a huge win for each of the MAPS 4 projects,” said MAPS Program Manager David Todd. “The additional funding will help offset increasing construction costs due to inflation.”
About MAPS 4
MAPS 4 is a debt-free public improvement program funded by a temporary penny sales tax that will raise a projected $1.07 billion 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 implementation, making recommendations to the City Council. The Council has final authority on MAPS 4.
The MAPS 4 Investment and Operating Trust developed a strategic investment plan to support long-term sustainable funding for MAPS 4 projects' operational expenses and maintenance.
Visit okc.gov/maps4 for more.