LEGISLATIVE RESEARCH CENTER
File #: 25-130    Name:
Type: Consent Item Status: Agenda Ready
File created: 1/16/2025 In control: Broken Arrow Economic Development Authority
On agenda: 2/4/2025 Final action:
Title: Approval of and authorization to execute a First Amended Economic Development Agreement between the Broken Arrow Economic Development Authority and Solar Turbines Incorporated
Attachments: 1. First Amended Economic Development agreement
Date Action ByActionResultAction DetailsMeeting DetailsVideo
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Broken Arrow Economic Development Authority

Meeting of: 02-04-2025

 

Title:

title

Approval of and authorization to execute a First Amended Economic Development Agreement between the Broken Arrow Economic Development Authority and Solar Turbines Incorporated

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Background:

On 08-20-2024, the Authority approved and executed an Economic Development Agreement with Solar Turbines.  After execution, it became apparent that there were a few items regarding the required reporting that needed clarification. Staff worked with Solar Turbines representatives to ensure the changes were agreeable, clear and complete.

The following changes were made to Section 4.1(d)(v):

                     Reporting due date change from June 30th to August 1st.

                     Reporting Period of July 1st - June 30

                     Clarification that submission of all reports are to be emailed to both the Director of Finance and to the Economic Development Director.

No other changes were made to the agreement.

 

Cost:                                                                None

Funding Source:                     None

Requested By:                      Makala Barton, Tourism Manager

Approved By:                      City Manager’s Office

Attachments:                                          First Amended Economic Development Agreement

Recommendation:

recommend

Approve and authorize execution of a First Amended Economic Development Agreement between the Broken Arrow Economic Development Authority and Solar Turbines Incorporated

end