Broken Arrow City Council
Meeting of: 11-18-2019
Title:
title
Approval of and authorization for the City Manager to waive development fees, not to exceed $24,000, for the Bentley Row Project located at 304 East Commercial Street in Broken Arrow
End
Background:
Nick and Jaime Parker own Born Again Restore, LLC. The Parker's, through their company, have made and will continue to make a large investment in the Rose District. To date, they have either personally or on behalf of their customers, invested nearly $7.3MM within the Rose District, exclusively by buying and refurbishing existing houses or building new houses.
The Parker's latest project is the construction of seven (7) luxury townhouses to be located at 304 E. Commercial Street. The development, which will be called Bentley Row, will consist of 3 bedroom, 2.5 baths with an attached two stall garage off of the rear of the structure. The estimated investment into Bentley Row is $1.9MM. The Estimated start date will be no later than November 1, 2019, with an estimated completion date set for 8 months after they break ground.
On October 22, 2019, Nick Parker approached Broken Arrow Economic Development Manager Norman Stephens, expressing concern that he could not financially make the numbers work for the project. During the conversation, Mr. Stephens discovered Mr. Parker would be responsible for up to $37,572.00 in City development fees. Mr. Stephens brought the issue to City Manager Michael Spurgeon who agreed to waive no greater than $24,000 in development fees in an effort to help assure the construction of the Bentley Row Townhouses which will ultimately contribute to greater density in the Rose District.
The Broken Arrow Manual of Fees states the City Manager is authorized to waive any fee, or any portion of a fee, contained in this Manual of Fees if it is determined by the City Manager to be in the best interest of the City and within the authority granted by the Broken Arrow Code of Ordi...
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