Broken Arrow Economic Development Authority
Meeting of: 04-06-2021
Title:
title
Approval of and authorization to execute an economic development agreement between B-Z Properties, LLC and Broken Arrow Economic Development Authority and Broken Arrow Municipal Authority
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Background:
B-Z Properties, LLC is interested in developing approximately 229 acres located on the NE corner of Section 7, Township 18N, Range 15E. (SouthWest corner of Kenosha and 209th E. Avenue).
B-Z Properties, LLC requested sewer extensions be installed upon their property at two separate locations as shown in Exhibits A1 and A2.
It was agreed between B-Z Properties, LLC and BAEDA and BAMA that B-Z Properties, LLC will donate certain agreed upon right of way and a utility easement in exchange for BAEDA funding the installation of the sewer lines.
The cost to BAEDA for the sewer extension is estimated to be approximately $23,700.00. The estimated cost of acquiring the utility easement from B-Z Properties, LLC is approximately $27,000.00
Cost: $23,700
Funding Source: BAEDA
Requested By: Norman Stephens, Assistant City Manager - Administration
Approved By: City Manager Office
Attachments: Economic Development Agreement BZ, BAEDA and BAMA;
Exhibit A1, A2, and B
Recommendation:
recommend
Approve and authorize execution of the economic development agreement between B-Z Properties, LLC and Broken Arrow Development Authority and Broken Arrow Municipal Authority
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