OKC MAPS PROJECTS – 25 YEARS
MAPS Investment – Public and Private Large-scale public infrastructure projects like MAPS are typically accomplished only through state and local government coordination and funding. The large public investment undertaken through MAPS was intended as a signal to private investors and developers that significant steps were being taken toward revitalizing downtown Oklahoma City. Along with a rebound in population, housing, employment, and business formation in downtown discussed in prior sections of the report, a similar rebound was anticipated in the form of increased private investment in housing, office, retail, and other areas of development. This section of the report provides an overview of cumulative public investment in the MAPS projects along with estimates of private investment in the downtown study area in the MAPS era. Findings indicate continued strength in both private and public investment downtown since 2009. The critical housing and office markets are both benefiting from continued investment and rising overall property values. Existing properties tracked over time in Bricktown show steady and substantial valuation gains since the initial MAPS projects were opened. MAPS Investment – MAPS, MAPS for Kids, MAPS 3 Figure 36 provides an overview of the $1.81 billion in total public investment across all three major MAPS initiatives the past 25 years. The three rounds of MAPS are progressively larger in size as measured by total cost at the time of project approval. The original $350 million MAPS program accounts for slightly less than 20 percent of total investment. Both MAPS for Kids ($684 million) and MAPS 3 ($777 million) have approximately twice the public investment of the original MAPS projects, comprising 38 percent and 43 percent, respectively, of total public investment in MAPS. Figure 36. MAPS Projects – Total Public Investment
Actual Cost
Inflation-Adjusted Cost (2018)
Project Cost (millions)
Share of Total
Project Cost (millions)
Share Of Total
Project MAPS
$350.0
19.3% 37.8% 42.9%
$569.2
24.6% 39.0% 36.4%
MAPS for Kids
684.0 777.0
902.8 843.6
MAPS 3
Total 100.0% Source: City of Oklahoma City, Greater Oklahoma City Chamber, and Bureau of Labor Statistics Notes: Cost is inflation-adjusted using the approximate midpoint at which sales tax revenue for each MAPS project was received. MAPS projects are adjusted using a midpoint of March 1996; MAPS for Kids uses a midpoint of January 2005; and MAPS 3 uses a midpoint of July 2013. Inflation adjustments are made using the all urban consumer price index-U.S. city average. $1,811.0 100.0% $2,315.6
Inflation Adjustment . Given both the pay-as-you-go model underlying MAPS and the extended time period that has elapsed across projects, inflation adjustments provide for a more useful comparative measure of total cost in current dollars. Because only limited data is available for partitioning the cost of each MAPS project to individual years in which funding was spent, the cost of each project is determined at the point the funds were raised rather than spent. The midpoint of the life of the temporary sales tax for each project is used as the point for inflation adjustment. 43
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