Broken Arrow Economic Development Authority
Meeting of: 08-05-24
Title:
title
Approval of and authorization to execute Resolution No. 1562, a Resolution of the Broken Arrow Economic Development Authority assigning to the City of Broken Arrow, a contract for Sale of Real Estate for real property located in Broken Arrow, Wagoner County, Oklahoma and more particularly described as that part of the NW/4 of the NW/4 lying south of M.K.&T. Railroad less and except Creek Turnpike shown in Book 1153 Page 125 all in Section 20, Township 18 North, Range 15 East of the Indian Base and Meridian, Wagoner County, State of Oklahoma and all that part of the SW/4 of the NW/4 of Section 20, Township 18 North, Range 15 East of the Indian Base and Meridian, Wagoner County, State of Oklahoma as described in Exhibit "A" attached hereto and incorporated by reference herein (the "real property") in accordance with the terms of a certain Contract For Sale of Real Estate by and between the Broken Arrow Economic Development Authority and Sunset at Broken Arrow, LLC; approving and authorizing execution of a General Warranty Deed transferring the real property from the Broken Arrow Economic Development Authority to the City of Broken Arrow; and authorizing the Broken Arrow Economic Development Authority to ratify and execute any and all documents including deeds, contracts, assignments or any other instrument allowing for the Transfer of Property to the City of Broken Arrow
End
Background:
On October 3, 2023, the City of Broken Arrow and the Broken Arrow Economic Development Authority entered into an Economic Development Agreement with Sunset at Broken Arrow, LLC to bring Sunset Amphitheatre to Broken Arrow.
Due to the platting of the property, the City of Broken Arrow is listed as the owner of the plat. As such, the attached Resolution No. 1562 allows the BAEDA to assign the purchase and sale contract to the City, for the City to accept the General Warranty Deed to list the City as the r...
Click here for full text