Broken Arrow Economic Development Authority
Meeting of: 05-1-18
Title:
title
Consideration, discussion and possible directive authorizing the City Manager to initiate negotiations to renew the Contract for Economic Development Services between the Broken Arrow Economic Development Authority (BAEDA) and the Broken Arrow Economic Development Corporation (BAEDC) and possible directive regarding any action allowed by BAEDA under any and all provisions of the Economic Development Services Contract and the Downtown Redevelopment Services Contract between BAEDA and BAEDC
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Background:
On December 18, 2006, the City of Broken Arrow entered into a contract with the Broken Arrow Economic Development Corporation to obtain a comprehensive Economic Development Strategic Plan to assist both entities in making educated, informed decisions about economic development for the overall good of the Broken Arrow community.
On May 21, 2007, the City of Broken Arrow contracted with the BAEDC to perform certain specified functions in exchange for a sum of $125,000. Specifically, the BAEDC was to obtain a fundraising feasibility plan to evaluate the prospects for raising private resource for economic development and, initiate a fundraising project.
On July 21, 2009, the Broken Arrow Economic Development Authority began contracting with the Broken Arrow Economic Development Corporation to encourage and facilitate economic development in the community by attracting new retail sales businesses, commercial businesses and industries to the Broken Arrow area, and by promoting the economic health and expansion of existing retail and sales businesses, commercial businesses and industries within Broken Arrow and diversifying the City's economy.
Broken Arrow Economic Development Authority continued to Contract with the Broken Arrow Economic Development Corporation for economic development, up to and including the current Contract.
The current contract between the BAEDA and BAEDC too...
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