Broken Arrow Economic Development Authority
Meeting of: 06-17-2024
Title:
title
Notification of the Aspen Ridge Development May 2024 Update
End
Background:
On July 31st, 2023, The Broken Arrow Economic Authority requested to be supplied with a monthly update of ongoing progress of the Aspen Ridge Development. Below are updates related to the project.
Compliance with the Economic Development Agreement
The Developer appeared before the authority last month to provide an update and request an extension through the Fourth Economic Development Agreement. Oaktrust Development, LLC is currently in compliance with the terms of the Economic Development Agreement.
Development progress to include information on infrastructure improvements and status of on-going development
• Chick-Fil-A opened in May.
• Reasor’s utility work is complete. Paving is near completion. Exterior finishes are underway. Reasor’s has opened an off-site office location for interviews and hiring.
• Panda Express framing is complete.
• Taco Bell is nearing completion.
Any new business announcements
Whataburger has commenced construction.
Cost: $0
Funding Source: N/A
Requested By: Jennifer Rush, Economic Development Manager
Approved By: City Manager’s Office
Attachments:
Aspen Ridge May Monthly Update
Recommendation:
recommend
No action requested
end