Broken Arrow City Council
Meeting of: 03-21-2017
To: Mayor and City Council
From: Office of the City Manager
Title:
title
Consideration, discussion, and possible approval of Resolution No. 1003, a Resolution of the Broken Arrow City Council approving and authorizing execution of a certain Economic Development Agreement by and among the City of Broken Arrow and B.A. Vesper, L.L.C. ("Developer")'; and other provisions relating thereto
End
Background:
Lynn Palmer and Stan Synar are the co-owners of B.A. Vesper, L.L.C. In 2014, they purchased the property located at the southeast corner of Main and Dallas. Main Street Square is now a viable retail and commercial development with the timeless appeal of an old town.
In 2017, Ms. Palmer and Mr. Synar purchased the former Presbyterian Church property located at 121 West College Street. It is their goal to refurbish the former sanctuary into a large full service restaurant. The building located just south of the sanctuary will be remodeled into class A office space in an effort to attract daytime density to the Rose District. It is the goal of the developers, at the conclusion of the redevelopment of the project, there will be in excess of 14,000 square feet of leased mid-century modern space that contributes the continued growth of the Rose District. The developers anticipated approximately 50 jobs will be created as a result of the redevelopment the property.
With the understanding redevelopment is much more expensive than development of vacant land at the edge of a city, Ms. Palmer and Mr. Synar approached representatives from the City of Broken Arrow requesting public assistance with infrastructure improvements on City-owned property. Specifically, extending an 8" water line on College from Main Street to Ash Street which will allow the developers suitable access to fire suppression for the restaurant. Developers also requested assistance with parallel parking improvements on the south side of Colle...
Click here for full text