Broken Arrow Economic Development Authority
Meeting of: 02-07-2017
To: Mayor and City Council
From: Office of the City Attorney
Title:
title
Consideration, discussion, and possible approval of and authorization to execute Resolution No. 961, a Resolution of the Trustees of the Broken Arrow Economic Development Authority approving and authorizing execution of a certain First Amendment to the Economic Development Agreement by and among the Broken Arrow Economic Development Authority, the City of Broken Arrow and Shawn and Gretchen Whistler ("Whistler"); and containing other provisions relating thereto
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Background:
On July 2, 2013, City Council passed Resolution No. 800 and the Broken Arrow Economic Development Authority ("BAEDA") passed Resolution No. 801 agreeing to an Economic Development Agreement between BAEDA, The City of Broken Arrow and Shawn and Gretchen Whistler.
The Whistler Economic Development Agreement was entered into for the completion of Hillside Drive. Hillside Drive opens approximately 27 acres of development and creates a nearly two-mile contiguous shopping corridor fronting the north side of the Broken Arrow Expressway. Completion of Hillside Drive is in conformance with the comprehensive plan, particularly the land use intensity map and provides necessary connectivity between two (2) major commercial corridors. In order to extend Hillside Drive, the City initiated a condemnation action to acquire the property from the Whistler's necessary to complete Hillside Drive.
During the pendency of the condemnation action, the City of Broken Arrow negotiated the Economic Development Agreement memorializing Resolution No. 800 and Resolution No. 801. The Whistler's dedicated 1.27 acres of right-of-way, 0.3 acres for a drainage easement, .18 acres for a temporary construction easement, and 1.37 acres for construction of a detention pond.
The ke...
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