151 Band

Tuesday, June 29, 2010

Outlet Mall Advertising Bill: $5.5 million/Ten Years

I may have missed something in the broadcast, but Fox 25's Jaclyn Schultz knocked it out of the park Tuesday evening with their story on the new outlet mall development.  According to the report, the Oklahoma City Council voted 5-2 in favor of spending taxpayer dollars for the outlet mall development and during the Fox 25 coverage, they showed the sign...a McKinney, Texas company has the contract.

We are a donor city after all.  Good for us.

But wasn't missed on this little gray duck was the fact that there is an agreement for $5.5 million in advertising for the outlet mall itself over the course of 10 years.  So, when you take into consideration about $500,000 to develop the advertising itself (ads, design, logo), another $200,000 for the development of a website that includes video production and then 15% advertising commission on all advertising spent...the question must be asked as to just which agency will get that contract. 

$1 million for the road leading up to the mall itself is part of the deal as well.

The argument FOR the taxpayer subsidy to build the mall is that even during this down-turn in the economy, at a time when other outlet stores and malls are talking about losses, this will somehow be a good thing in the long term for Central Oklahoma.

Watch the Fox 25 video here.