Broken Arrow Economic Development Authority
Meeting of: 05-05-2020
Title:
title
Consideration, discussion, and possible approval of and authorization to execute an Economic Development Agreement between the City of Broken Arrow and East Kenosha Development, LLC for AutoZone Auto Parts to be located near 20th and Kenosha Street in Broken Arrow
End
Background:
On March 4, 2020 Mr. Joe Adwon, doing business as East Kenosha Development, LLC. approached Broken Arrow Economic Development Manager Norm Stephens requesting to enter into an economic development agreement with the City of Broken Arrow for the purpose of locating an AutoZone Auto Parts store in the East Kenosha Development, located at 20th and Kenosha, in Broken Arrow. Mr. Adwon requested financial assistance from the City to extend the pavement of 20th Street, south of Kenosha as well as storm sewer improvements. In addition, Mr. Adwon requested financial assistance to complete the traffic signal at 20th and Kenosha. Mr. Adwon advised he is under contract with AutoZone to build a 7,362 sq. retail store that would employ approximately ten to twelve full time employees.
On March 17, 2020, Mr. Stephens presented information related to the request from Mr. Adwon to BAEDA in Executive Session. At the conclusion of Executive Session, BAEDA members came back into open session, recommending the City Manager enter into formal negotiation with Mr. Adwon. Those negotiations yielded the following:
Mr. Adwon, DBA East Kenosha Development LLC will construct or cause to be constructed a 7,362 sq. ft. AutoZone Auto Parts Retail Store
The City of Broken Arrow will appropriate and encumber a sum not to exceed $67,133 for reimbursement to the East Kenosha Development LLC for construction of infrastructure relating to a pavement extension on North 20th Street and construction of a storm sewer.
The City of Broken Arrow, at its sole cost, will be responsible for traffic control improvements along the north side of...
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