Broken Arrow Economic Development Authority
Meeting of: 08-04-2025
Title:
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Consideration, discussion, and possible approval of an Economic Development Agreement between the Broken Arrow Economic Development Authority and Shops at Tiger Crossing, LLC
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Background:
The Shops at Tiger Crossing is a proposed 17.6 acre retail development that will be located on the northeast corner of County Line Road and Albany. The agreement aims to enhance the city's economic growth in an area north of Broken Arrow High School.
The project is expected to create approximately 200 construction jobs and 125 full-time jobs upon completion. It is estimated to generate an approximate $525,000 in annual ad valorem taxes and $2,500,000 in annual sales tax revenue.
In consideration of the Developer's agreement to construct the project, the City and Authority agree to provide the Developer an amount not exceeding $2,000,000.00 over 20 years by way of a sales tax rebate. The rebate will be split, with $0.32 per dollar going to the Developer and $0.68 per dollar going back to the City. Additionally, the Authority will reimburse the Developer for 600 linear feet of sidewalk construction along County Line Road, not exceeding $20,000, and waive site development permit fees and fee-in-lieu of onsite stormwater detention, not exceeding $210,000,00.
The Developer is required to construct seven pad sites for commercial retail, restaurant, or service-oriented businesses and one pad site for their operations. The developer agrees to construct a minimum of 25,000 sq. ft. of commercial retail or service businesses by May 2030. Although the remaining sites have not been sold, it is anticipated by both the Developer and City staff, the remaining property associated with Shops at Tiger Crossing will yield additional square footage of retail space.
It is projected over the course of the sales tax rebate, the Authority will rebate back to the Developer an amount not to exceed $2,000,000.00 (22...
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