Broken Arrow City Council
Meeting of: 10-03-23
Title:
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Consideration, discussion, and possible approval of and authorization to execute an Economic Development Agreement by and among Sunset at Broken Arrow, LLC, and the Broken Arrow Economic Development Authority and the City of Broken Arrow
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Background:
The goal of the Broken Arrow Economic Development Authority is to create an environment that encourages and facilitates economic development within and near the City by attracting new retail and commercial businesses to the Broken Arrow area, and to promote the economic health and expansion of existing industry and commercial businesses within the City.
The City of Broken Arrow has an approximate 124 acres events park immediately north and east of the intersection of the Creek Turnpike and East 101st Street South. The Master Plan for the Events Park devised back in May 2011, proposed an Outdoor Amphitheater as a key feature for the Events Park. The Authority has under consideration the acquisition of an additional 41 acres North of the Events Park for a proposed Project Site for an Outdoor Amphitheater to be developed by Sunset at Broken Arrow LLC.
The Outdoor Amphitheater proposal by Sunset at Broken Arrow, LLC includes the construction of a venue with seating and attendance capacity of 12,500. The outdoor entertainment venture projects approximately $71.5 million capital investment, supporting approximately 741 jobs during the construction period, and upon completion, providing approximately 86 direct full-time positions with an annual payroll of approximately $3.49 million, and supporting an additional 154 indirect jobs with an annual payroll of approximately $4.01 million. The projected capital investment is expected to generate over $900,000 in new annual ad valorem taxes, benefiting taxing entities including Wagoner County, the Wagoner County Health Department, Broken Arrow Independent School District No. 3 of, Tulsa County (Broken Arrow Public...
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