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HomeMy WebLinkAbout2024.05.09_OEDA AgendaPUBLIC NOTICE OF THE MEETING OF THE OWASSO ECONOMIC DEVELOPMENT AUTHORITY Owasso City Hall, Community Room 200 South Main Street, Owasso, OK Thursday, May 9, 2024 — 10:00 AM NOTE: APPROPRIATE ACTION may include, but is not limited to: acknowledging, affirming, omendingR p�rE thortzing, awarding, denying, postponing, or tabling. iVEFY 1. Call to Order - Dee Sokolosky, Chair AGENDA MAY 0 7 2024 �5 City Clerk's Office 2. Consideration and appropriate action relating to the Consent Agenda. (All matters listed under "Consent" are considered by the Trustees to be routine and will be enacted by one motion. Any Trustee may, however, remove an item from the Consent Agenda by request. A motion to adoptthe Consent Agenda is non - debatable.) A. Approve minutes of the April 11, 2024, Regular Meeting (Attachment) B. Accept monthly financial report (Attachment) 3. Consideration and appropriate action relating to items removed from the Consent Agenda 4. Report from City Departments (Attachment) Chris Garrett A. Community Development Report - Brian Dempster B. Public Works Project Status Report - Roger Stevens C. Sales Tax Report and Revenue Outlook - Carly Novozinsky 5. Economic Development Report and Owasso Chamber of Commerce Initiatives and Opportunities Chelsea Feary, Trustee 6. Consideration and appropriate action relating to the FY 2024 -25 Hotel Tax Fund 3% Expenditures Carly Novozinsky (Attachment) 7. Consideration and appropriate action relating to Resolution No. 2024 -01 approving the OEDA FY 2024- 25 Annual Operating Budget Carly Novozinsky (Attachment) Staff recommends approval of Resolution 2024 -01. 8. Report from City Manager Chris Garrett 9. Report from Trustees 10. New Business (New Business is any item of business which could not have been foreseen at the time of posting of the agenda) 11. Adjournment Notice of Public Meeting filed in the office of the City Clerk on Friday, December 8, 2023, and the Agenda posted at City Hall, 200 South Main Street, at 5:00 pm on Tuesday, May 7, 2024. Shellie Wingert, Recording Secretary ` the City of Owasso encourages citizen participation. To request an accommodation due to a disability, contact the City Clerk prior to the scheduled meeting by phone 918- 376 -1502 or by email to istevens @citvofowasso cam A reception honoring the service of Dee Sokolosky will be held immediately following the conclusion of the meeting. The public is invited to attend. OWASSO ECONOMIC DEVELOPMENT AUTHORITY MINUTES OF REGULAR MEETING THURSDAY, APRIL 11, 2024 The Owasso Economic Development Authority met in regular session on Thursday, April 1 1, 2024, at City Hall in the Community Room, 200 South Main Street, Owasso, Oklahoma per the Notice of Public Meeting filed Friday, December 8, 2023, and the Agenda filed in the office of the City Clerk and posted at City Hall, 200 South Main Street at 5:00 pm on Wednesday, April 3, 2024 and Addendum filed and posted Thursday, April 4, 2024 at 8:30 am. 1. Call to Order -Chair Dee Sokolosky called the meeting to order at 10:00 am. Present: A quorum was declared present. Absent Chair - Dee Sokolosky None Vice Chair - Dirk Thomas Secretary - Chelsea Feary Trustee - Bryan Spriggs Trustee - Alvin Fruga Trustee - Skip Mefford Trustee - David Charney Staff - Interim City Manager Michele Dempster, City Attorney Julie Lombardi 2. Consideration and appropriate action relating to the Consent Agenda. (All matters listed under "Consent" are considered by the Trustees to be routine and will be enacted by one motion. Any Trustee may, however, remove an item from the Consent Agenda by request. A motion to adopt the Consent Agenda is non - debatable.) A. Approve minutes - March 14, 2024 B. Accept monthly financial report Dr. Thomas moved, seconded by Dr. Spriggs, to approve the Consent Agenda, as presented. YEA: Sokolosky, Spriggs, Thomas, Fruga, Feary, Mefford, Charney NAY: None Motion carried: 7 -0 3. Consideration and appropriate action relating to items removed from the Consent Agenda - None 4. Report from City Departments A. Community Development Report B. Public Works Project Status Report C. Sales Tax Report and Revenue Outlook Brian Dempster presented item A, Travis Blundell presented item B, and Carly Novozinsky presented item C. Discussion was held. 5. Economic Development Strategic Plan Quarterly Report and Owasso Chamber of Commerce Initiatives and Opportunities Chamber President Chelsea Feary presented the EDSP quarterly report; and commented on upcoming events: the DC Fly -In is next week; the Owasso Day at the Capital is April 231d; the Economic Summit is April 25th; and, Attorney General Gentner Drummond is the guest speaker at the May 1st Chamber Luncheon. Discussion was held. 6. Discussion relating to the agreement for economic development services between the Owasso Chamber of Commerce and the City of Owasso Chair Sokolosky removed this item from the agenda. 7. Report from City Manager - None 8. Report from Trustees Chair Sokolosky spoke on current legislation items and the chamber position; Trustee Mefford spoke about Character Council scholarship candidate interviews. Discussion was held. 9. New Business - None OEDA Minutes April 11, 2024 Page 2 10. Adjournment Dr. Thomas moved, seconded by Mr. Fruga, to adjourn the meeting. YEA: Sokolosky, Spriggs, Thomas, Fruga, Feary, Mefford, Charney NAY: None Motion carried: 7 -0 and the meeting adjourned at 10:41 am. Shellie Wingert, Recording Secretary Owasso Economic Development Authority Statement of Revenues, Expenses and Changes in Fund Net Assets For the Month Ending April 30, 2024 MTD YTD Budget Operating Revenues $0.00 $0.00 $0.00 Operating Expenses Materials & supplies 0.00 0.00 0.00 Services & other charges 0.00 0.00 5,000.00 Capital outlay 0.00 0.00 0.00 Total Operating Expenses 0.00 0.00 5,000.00 Operating Income (Loss) 0.00 0.00 (5,000.00) Non - Operating Revenues (Expenses): Investment income 13.87 143.32 70.00 Promissory note revenue 0.00 0.00 0.00 RAN debt service & other costs 0.00 0.00 0.00 Transfer from Hotel Tax Fund 0.00 0.00 0.00 Total non - operating revenues (expenses) 13.87 143.32 $70.00 Net income (loss) before contributions and transfers 13.87 143.32 (4,930.00) Transfer to general fund 0.00 0.00 0.00 Change in net assets 13.87 143.32 (4,930.00) Total net assets - beginning 9,566.00 9,566.00 Total net assets - ending $9,709.32 $4,636.00 OL P.WDP�EAL !i."5_RM C.", TO: The Honorable Chair and Trustees Owasso Economic Development Authority FROM: Community Development Department SUBJECT: Development Report DATE: May 1, 2024 NEW COMMERCIAL DEVELOPMENT •Mercy EMS Facility (ON HOLD)- South of the SW corner of 129 E Ave & 116 St N oCity Council approved a combined annexation and rezoning on 4/18/23 Annexation o5pecific Use Permit to allow a vehicle maintenance facility in a Commercial Shopping (CS) zoning designation to be reviewed by \ \V // the City Council on 6/18/24 *German Corner (Mixed -Use) (ON HON) -SW corner of E 116 St N & Garnett Rd OPUD request for a mixed -use commercial development approved by Council on 8/15/23 *Martin Office Development (ON HOLD) -1012 N Ash St . _ .... oRezoning request from Residential Single Family to Office approved by Council on 8/15123 *OLS 24-01- Lot 1, Block 1, The Replat of Lots 7 & 8, Block 4, Graceland Acres oLot Split request, to split the parent tract in two, to be reviewed by the Technical Advisory Committee on 5/15/2024 *Owasso 7- NE corner of 96 St & Garnett Rd oFinal Plat to be reviewed by the City Council on 6/18/24 oPreliminary Plat approved by Planning Commission on 10/9/23 *JDH Properties (116th Attic Owasso) -11105 E 116 St oFinal Plat to be reviewed by the City Council on 5/21/24 05ite Plan reviewed by the Technical Advisory Committee on 2/21/24 o PUD request for a mixed -use commercial /self- storage development approved by City Council on 2/20/24 *OLLA 24-01- 209 E 5 Ave oLot Line Adjustment request, to reconfigure three lots into two, approved on 3/1/2024 *Lot 1, Block 4 Morrow Commercial- East of NE corner of 116 St & 129 E Ave oFinal Plat approved by City Council on 1/16/24 •Reserve at Owasso- E 106 St N and US -169 oFinal Plat approved by Council on 9/19/23 oPreliminary Plat approved by Planning Commission on 6/12/23 oOPUD 23- 02/0223 -02, to allow for a mixed -use commerical and multifamily development, approved by Council on 3/21/23 Bailey Commercial Phase 1 -SW corner of E 106 St N & N Garnett Rd oPlanning Commission approved the preliminary plat an 12/12/22 oCity. Council approved the final plat for Lots 1 & 2, Block 1 ONLY on 12/20/22 •Owasso Public Works and Vehicle Maintenance Facilities- East of SE corner of N 97 E Ave Rd) and E116 St oSite Plan to be reviewed by the Tecnical Advisory Committee on 5/15/24 oFinal Plat approved by the City Council on 4/16/24 -Chase Bank- NE corner of 96 St & Garnett Rd oSite Plan reviewed by the Technical Advisory Committee on 4/17/24 •McDonald's- NE corner of 96 St & Garnett Rd oSite Plan reviewed by the Technical Advisory Committee on 4/17/24 -Murphy's USA (Remodel)- 12107 E 96 St N oSite Plan reviewed by the Technical Advisory Committee on 2/21/24 -Dollar Tree- East of NE corner of 116 St & 129 E Ave oSite Plan reviewed by the Technical Advisory Committee on 12/20/23, has been approved • Vision Hardwood- North of the NE Corner of E 116 St N & N Garnett Rd o5ite Plan reviewed by the Technical Advisory Committee on 8/16/23 *Take 5 Oil Change- 9349 N 129 E Ave -Same Day Auto- NE corner of 106th & US -169 -Dental Depot- 8722 N Garnett Rd •N Garnett Block 9 (Shell Building)- 9441 N Garnett Rd -Lot 3, Block 9 Smith Farm Village (Shell Building)- SE corner of 96 St & Garnett Rd *Taco Casa- 9581 N Garnett Rd -The Learning Experience -11637 N 129th E Ave •5th Avenue Business Park- 304 E 5th Ave -Trinity Presbyterian Church— NW corner of E 75 St N and N Memorial Dr •Helscel- Huneryager Industrial Park -7301 N 115 E Ave REDBUD DISTRICT DEVELOPMENT AJ6 Now Open Coming Soon • Community Center Patio /Outdoor Classroom • Owasso PD Shoot -House & Multi- purpose o Completed! Buildings- 710 & 720 S Main St o Under construction • Merlot (Tyner Townhome Development)- 108 N • Vintage at Redbud Atlanta o OPUD 23 -03, to allow for 7 townhomes on a o Completed! single Downtown Mixed (DM) -zoned lot approved by City Council on 3/21/23 • Tyner Duplexes- NE comer of W 1 d St & N Atlanta • Tyner Quadplex Development- 203 E 3rd St N • Completed! o 2 Lot Split requests (as there are two lots involved) to split property into a total of 5 lots approved by Planning Commission on 10/10/22 o Under construction • Foster's (Expansion)- 105 E 2 St Birchwood- 414 S Birch • Opened 06/2023 o Rezoning request from Residential Single- Family (RS -3) to Residential Multifamily (RM) approved by Council on 8/16/22 o Technical Advisory Committee reviewed Site Plan on 9/21/22, has been approved o Under construction • Tyner Lofts on 2nd- SE corner of W 2nd St & N Atlanta • Lot Split requesting the lot be split in half approved by Planning Commission on 7/11/22 • Site Plan reviewed by the Technical Advisory Committee on 7/20/22 • Under construction • Potential Library Expansion TCCL held a townhall meeting on potential expansion in 01/2022 EXPANSION OF EXISTING COMMERCIAL • Owasso High School Track- 12901 E 86 St N • OPS proposing to add a total of 6 buildings (storage, concessions, restrooms) to the existing track /football field • Site plan reviewed by the Owasso Technical Advisory Committee (TAC) on 10/18/23, has been approved • SAHO (2nd Location)- 401 W 2nd St • Easement Closure request to close an easement that conflicts with the proposed expansion footprint approved by City Council on 10/17/23 • Remodeling existing building in IA phase (completed) • Construction underway to add an additional 5,000 sq ft in 2nd phase • Attic Storage- 7801 N Owasso Expressway o OBOA 23 -02, a Special Exception to allow for an expansion of a non - conforming use (warehousing and storage in a CG district) approved by the Owasso Board of Adjustment on 2/28/23 First Christian Church Owasso (addition)- 10100 N Garnett Rd • Site Plan approved • Under Construction NEW RESIDENTIAL DEVELOPMENT Annexation Rezoning P� •N /A •OPUD 23 -05, Morey Apartments (ON HOLD)- Near SE corner of E 86 St N & N 125 E Ave oPlanned Unit Development request to allow for an 8 -unit multi - family complex approved by City Council on 9/19/23 *Silo at Smith Farm- SE of E 96 St N & N Garnett Rd oFinal Plat to be reviewed by City Council on 6/18/24, *Fairway Villas- SE corner of 89 St & 97 E Ave oFinal Plat to be reviewed by City Council on 5/21/24 oPreliminary Plat approved by Planning Commission on 1/8/24 •Plamer 4 -Plex (ON HOLD)- North of NW corner of 96 St & Mingo Rd oFinal Plat to be reviewed by the City Council on 5/21/24 oPlanned Unit Development request to allow for an 12 -unit multi - family complex approved by City Council on 9/19/23 -Villas at Stonebridge 11 -12924 E 76 St N oFinal Plat approved by City Council on 2/20/24 oOriginally approved on 3/21/23, but has since expired *Kelly Acres- North of NW corner of 96 St & Mingo Rd oFinal Plat approved by City Council on 12/19/23 -Twill Johnson Ranch- NW corner of E 101 St N & N 129 E Ave oFinal Plat approved by City Council on 9/19/23 -Presley Hollow Phase II & III- East of NE comer of E 76 St N & N 145 E Ave oPreliminary Plat approved by the Planning Commission on 8/15/23 ,Hawthorne at Stone Canyon, Phase 11- SW of the intersection of E 76 ST N and N 193 E Ave oPreliminary Plat approved by Planning Commission on 6/12/23 -Smith Farm Village -SE corner of E 96 St N and N Garnett Rd o62 single - family lots, to serve as dedicated rental community oPreliminary Plat (for residential portion) approved by Planning Commission in 10/2021 •Reunion at Owasso Phase III — NW corner of E 98 St N and N 119 E Ave (behind Lowes) 039 unit multi - family complex for seniors oSite Plan reviewed by the Technical Advisory Committee on 2/15/23 -Owasso Senior Living (ON HOLD)- SW corner of E 101 St N & N 123 E Ave 062 unit multi - family complex for seniors 0Site Plan reviewed by the Technical Advisory Committee on 11/16/22 •N /A • Keys Landing II- NW of intersection of E 66 St N & N 129 E Ave 094 of 94 single - family lots remaining • Morrow Place Phase III- East of SE corner of E 126 St N & N 129 E Ave 063 of 98 single - family lots remaining -Villas at Cypress Crossing- NE corner of E 99 St N & US -169 Service Rd • Hawk's Landing- East of SE corner of E 76 St N & N 145 E Ave 037 of 70 singie - family lots remaining -Casa del Mar (apartment portion) -SE comer of 86 & Memorial 0240 unit multl- family complex, to be built in phases • Parker (formerly "Emery") Village Apartments —NE of the intersection of E 106 St N and N Garnett Rd 032 of 120 single - family lots remaining 0262 unit multi - family apartment complex •Twill at Bailey Creek- NE corner of E 96 St N and N Mingo Rd 0104 unit detached multi- family complex •Hawthorne at Stone Canyon, Phase I —SW of the intersection of E 76 ST N and N 193 E Ave 03 of 19 single - family lots remaining • Presley Hollow — North side of 76 St N and N 161 E Ave 024 of 197 single - family lots remaining *Reunion at Owasso — NW corner of E 98 St N and N 119 E Ave (behind Lowes) 022 unit multi - family complex for seniors •Stone Creek of Owasso —SW corner of E 76 St Nand N 161 E Ave 042 of 100 single- family lots remaining *Nottingham Hill —SW corner of E 96 St N and N 145 E Ave 013 of 58 single - family lots remaining Would you like to see a map of where some 0. of these developments are occuring? Please scan here! REAL People •REAL Chereclar • flEAL Commonly New Items Case Number: SUP 24 -01 Case Type: Specific Use Permit (SUP) General Location: North of the northeast corner of E 76th ST N and N 129th E Ave Planning Commission Meeting: June 10, 2024 City Council Hearing: June 18, 2024 Project Detail: Request to approve a Specific Use Permit on 1.95 acres, to allow a proposed auto maintenance use (carwash facility) within the CS zoning district. The subject property is zoned CS. City of Owasso Planner Assigned to Project: Wendy Kramer — City Planner (918)376 -1545; wkromer@cityofowasso.com Project Name: Owasso 7 Case Type: Final Plat General Location: Northeast corner of E 96 +h ST N and N Garnett Rd Planning Commission Meeting: June 10, 2024 City Council Hearing: June 18, 2024 Project Detail: Final Plat proposing 2 Lots on 1 Block and is approximately 2.30 acres. The subject tract is zoned CG and is within the US -169 Overlay district. Project Representative: AAB Engineering LLC (918)514 -4283; alan @aabeng.com City of Owasso Planner Assigned to Project: Wendy Kramer — City Planner (918)376 - 1545; wkramer @cityofowasso.com City of Owasso Community Development Planning Items List May 2, 2024 �srrm© a�wa i. ri I May 2, 2024 Page 1 of 6 City of Owasso Project Name: Silo at Smith Farm Case Type: Final Plat General Location: Southeast of E 96th ST N and N Garnett Rd Planning Commission Meeting: June 10, 2024 City Council Hearing: June 18, 2024 Project Detail: Final Plat proposing 62 Lots on 6 Blocks and is approximately 13.47 acres. The subject tract is zoned RNX and CS under OPUD 21 -02 and is within the US -169 Overlay district. Project Representative: Tulsa Engineering & Planning - TEP (918)252 -9621; j.taber @tulsaengineering.com City of Owasso Planner Assigned to Project: Alexa Beemer, AICP — Planning Manager (918)376 -1536; abeemer @cityofowasso.com *Subject tract is shown by the pink polygon on the right. Case Number: OLS 24 -01 Case Type: Lot Split *this case type does not go to public meetings for review /approval* General Location: 12901 E 76th ST N, Owasso, OK 74055 Project Submitted to Staff: May 1, 2024 Project Detail: Lot Split proposing to split a 3.9 -acre parent tract into two new lots. The property is zoned CS. City of Owasso Planners Assigned to Project: Alexa Beemer, AICP — Planning Manager (918)376 -1536; abeemer @cityofowasso.com - -- - — uvuu�w .•,c -. ,c•'° a I��. May 2, 2024 Page 2 of 6 City of Owasso Project Name: Owasso Public Works Facility Case Type: Site Plan *this case type does not go to public meetings for review /approval* General Location: Y, mile east and south of E 116th ST N and N 97th E Ave (N Mingo Rd) Project Submitted to Staff: April 25, 2024 Project Detail: Site Plan proposing the construction of five (5) buildings on a 63.67 -acre property. The property is zoned PF. Project Representative: Wallace Design Collective (918)584 -5858; karl.fritschen @wallace.design City of Owasso Planners Assigned to Project: Alexa Beemer, AICP - Planning Manager (918)376 -1536; abeemer @cityofowasso.com Wendy Kramer -City Planner (918)376 -1545; wkramer @cityofowasso.com II H' a y I Previously Reported Items (April 2024 Submittal Deadline) Project Name: Fairway Villas Case Type: Final Plat General Location: Southeast corner of N 97th E Ave (N Mingo Rd) and E 891h ST N Intersection Planning Commission Meeting: May 13, 2024 City Council Hearing: May 21, 2024 Project Detail: Final Plat proposing 37 Lots on 6 Blocks and is approximately 7.76 acres. The subject tract is zoned RNX under OPUD -9. Project Representative: Cedar Creek Consulting, Inc (405)406 -4622; jemmett @cedarcreektnc.com City of Owasso Planner Assigned to Project: Wendy Kramer- City Planner (918)376 -1545; wkramer @cityofowasso.com t, �'1% t:.' j' i May 2, 2024 Page 3 of 6 City of Owasso Project Name: JDH Properties ase ype. Prellminary 8, Final Plats General Location: East of E 116th ST N and N 1 10th E Ave Planning Commission Meeting: May 13, 2024 City Council Hearing: May 21, 2024. Project Detail: Preliminary and Final Plat proposing 2 Lots on 1 Block and is approximately 4.62 acres. The subject tract is zoned CG and a portion of the property is under -- - OPUD 23 -07. 3, Project Representative: _ _ — Route 66 Engineering (918)248 -1129; bdiedrich @66eng.com City of Owasso Planner Assigned to Project: — - Alexa Beemer, AICP - Planning Manager (918)376 -1536; abeemer @cityofowasso.com Project Name: Chase Bank Owasso Case Type: Site Plan *this case type does not go to public meetings for review /approval* General Location: Northeast comer of E 96th ST N and N Garnett Rd Intersection Project Submitted to Staff: April 1, 2024 Project Detail: Site Plan proposing the construction of a 3,225 sq. foot building. The property is zoned CG and is within the US -169 Overlay District. Project Representative: Cumulus Design (214)235 -0367; matt @cumulusdesign.net City of Owasso Planners Assigned to Project: Alexa Beemer, AICP - Planning Manager (918)376 -1536; abeemer @cityofowasso.com Wendy Kramer- City Planner (918)376 -1545; wkramer @cityofowasso.com `Subject tract is shown by the southern pink polygon on the right. a �I _- — malft -- — I. Mum ffix - a -4x3 ?m Q03�E�i'CI . May 2, 2024 Page 4 of 6 City of Owasso Project Name: McDonald's Case Type: Site Plan *this case type does not go to public meetings for review /approval* General Location: Northeast corner of E 96th STN t and N Garnett Rd Intersection I Project Submitted to Staff: April 1, 2024,, Q Project Detail: Site Plan proposing the construction of a 3,780 sq. foot building. The property is zoned CG and is Within the US -169 Overlay District. Project Representative: Langan Engineering (817)328 -3200; tturton @langan.com City of Owasso Planners Assigned to Project: Alexa Beemer, AICP - Planning Manager (918)376 -1536; abeemer @cityofowasso.com Wendy Kramer - City Planner (918)376 -1545; wkramer @cityofowasso.com *Subject tract is shown by the northern pink polygon on the right. _• � _ .i:M 4016irCl i u i Project Name: Palmer 4 -Plex Case Type: Site Plan *this case type does not go to public meetings for review /approval* General Location: Southwest of the E 102nd ST N and N 971h E Ave (N Mingo Rd) Intersection Project Submitted to Staff: March 7, 2024 Project Detail: Site Plan proposing the construction of three (3) quadplex buildings (each building totaling 4,076 sq. feet). The property is zoned RNX under OPUD 23 -06. Project Representative: Inspire Engineering LLC (918) 606 -7950; jlord @inspire- engineers.com City of Owasso Planners Assigned to Project: Alexa Beemer, AICP - Planning Manager (918)376 -1536; abeemer @cityofowasso.com Wendy Kramer- City Planner (918)376 -1545; wkramer @cityofowasso.com *Subject tract is shown by the pink polygon on the right. a i, 700, a •, May 2, 2024 Page 5 of 6 City of Owasso To view Planning Items in an Interactive Map Format, please visit: httips7//exr)e(ience.orc-gis.com/exiperience/`fd95b424 290c427fb4567ff 171 el b29d/ �■ .v 71 10 Public Participation Visit the City of Owasso's agenda center for agendas, packets, and minutes for City Council, Planning Commission, and Board of Adjustment: httr)s://www.cityofowasso.com/AaendoCenter MN 13 0 o: XJ For Planning Commission and Board of Adjustment meetings: If you want to comment on a planning division item at an upcoming meeting and are unable to attend, you may submit comments /feedback to Planning Staff at planning @citvofowasso.com by email. Please include either the case number or project name in the subject line of your correspondence. These comments will then be shared with the relevant Board, Commission, or City Council. May 2, 2024 Page 6 of 6 City of Owasso RESIDENTIAL SINGLE FAMILY NEW CONSTRUCTION MONTH END REPORT APRIL 2024 Month 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1 January 12 15 9 8 9 9 7 35 8 14 2 February 19 26 15 8 8 4 8 11 4 31 3 March 23. 18 55 19 4 12 9 8 29 23 4April 27 23 20 17 6 8 49 25 13 11 5 May 15 9 11 20 4 5 19 24 19 6 June 11 31 5 7 5 - 22 24 7 11 7 July 20 16 9 14 11 11 34 7 8 8 August 33 15 12 6 6 35 17 1 23 9 September 13 15 6 2 7 17 33 3 13 10 October 23 12 7 3 _ 21 7 24 2 11 11 November 25 6 19 7 2 10 20 5 3 12 December 7 3 9 6 3 7 14 3 25 Totals 228 189 177 117 86 147 258 131 167 79 YTD 81 82 99 52 27 33 73 79 54 79 16,000,000 APRIL YEAR -TO -DATE DOLLARS 14,000,000 --------- -----_—_---°---------------------------- ---------------------------------------- 12,000,000 – — – – – — -- -- – – _ -- -- — — - ----- -- -- ------- 10,000,000 - - _ _-- -- ---- -- - - - - - -- -- - 8,000,DOO - ° - -- - -_ -- --- -- --------- ------ - - - - -- - - - - - -- 6,000,000 -- — — – – – — – t-- 4,000,000 -- - ---- ----- ---------- 2,000,000 - -__ _�__ — ___ —____ -------------- - ------ 0 2020 2021 2022 2023 2024 APRIL 4,633,355 11,237,781 11,113,410 10,298,225 13,653,780 TOTAL NEW CONSTRUCTION DOLLARS FOR EACH YEAR 45,000,000 lown 30,000,000 ---- ------ -------------------- -------- ----- "12023 .------ - --- – ------ 15,000,000 ---- --------- --- 2020 2021 2024 ITOTALI 17,967,497 1 38,080,961 1 20,280,175 1 30,600,920 13,653,780 CITY OF OWASSO RESIDENTIAL LOT INVENTORY STATUS April 30, 2024 Hawk's Landing (6/21) Hawthorne at Stone Canyon Ph 1 (3/20) Keys Landing II (12/23) Morrow Place III (11123) Nottingham Hill (6/09) Parker Village (4/21) Presley Hollow (3/21) Stone Creek at Owasso (9/20) TOTALS # OF LOTS # DEVELOPED # AVAILABLE 70 33 37 19 16 3 94 0 94 98 35 63 58 45 13 120 88 32 197 173 24 100 58 42 757 449 308 RESIDENTIAL MULTI - FAMILY NEW CONSTRUCTION MONTH END REPORT APRIL 2024 (Initial recording began May 2016) Month 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1 January 2023 4 0 0 0 0 107 0 0 2 February 6 0 0 0 0 4 14_ 0 3 March - "13 0 64 0 22 _ 0 0 0 4 April - 0 4 0 0 0 6 0 0 5 May 0 0 0 0 0 0 262 0 6 _June - 0 0 0 0 0 0 2.40 0 7 July -- 0 0 0 0 0 0 0 366 8 August 0 0 0 0 0 0 0 42 9- September 0 4 9 0 0 0 36 0 _ 10 October 0 0. 0 0 0 0 0 0 11 November 0 0 0 0 0 0 0 0 12 December 0 *10 0 0 58 0 0 0 Totals 0 37 13 64 58 22 655 422 0 0 YTD 0 10 4 64 0 22 117 14 0. 0 *Units part of mixed use projects. Construction dollars counted towards new commercial. APRIL YEAR -TO -DATE DOLLARS 14,000,000 12,000,000 2020 2021 2022 2023 10,000,000 4,800,000 TOTAL 82,454,792 45,437,640 8,000,000 6,000,000 4,000,000 2,000,000 0 2020 2021 2022 2023 2024 JAPRILI 0 1.239,000 13,312,466 2,150,000 0 TOTAL NEW CONSTRUCTION DOLLARS FOR EACH YEAR 90,000,000 75,000,000 60,000,000 45,000,000 30,000,000 15,000,000 2020 2021 2022 2023 2024 4,800,000 TOTAL 82,454,792 45,437,640 - 2023 2024 4,800,000 1,239,000 82,454,792 45,437,640 - COMMERCIAL NEW CONSTRUCTION MONTH END REPORT APRIL 2024 Month 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1 January 1 2 2 0 0 1 1 0 1 1 2 February 2 1 0 0 3 0 0 3 2 3 3 March 2 0 2 3 2 1 1 8 1 0 4 April 2 0 0 0 0 0 3 2 3 0 5 May 0 0 1 2 1 0 0 1 3 6 June 3 2 0 1 1 2 2 3 1 7 July 0 2 0 2 0 2 2 0 0 8 August 0 2 2 1 2 0 2 2 2 9 September 2 3 1 1 2 1 3 1 2 10 October 1 2 0 0 0 1 0 1 0 11 November 1 1 2 1 0 1 3 2 1 12 December 0 0 0 0 - 0 0 1 0 2 Totals 14 15 10 11 11 9 18 23 18 4 YTD 7 3 4 3 5 2 5 13 7 4 APRIL YEAR -TO -DATE DOLLARS 25,000,000 20,000,000 ------- — --- — --------- - -------- --------------------------- 15,000,000 ------------------------------- -------------------------------------- 10,000,000 - ---------------------- --------- --------------------------- ------------ 5,000,000 ------ -------------- -- ----------- ------------ -- 0 2020 2021 2022 2023 2024 FAPRILI 5,000,000 19,746,400 7,369,256 15,603,000 5,450,000 TOTAL NEW CONSTRUCTION DOLLARS FOR EACH YEAR 60,000,000 45,000,000 30,000,000 15,000,000 ------ ------ ------- -------------- --- ---•-- — - -- --- ------------ — --------------- 2020 2021 2022 2023 2024 TOTAL 25,640,180 56,068,466 25,134,256 32,518,744 5,450,000 Certificate of Occupancy Monthly List NAME ADDRESS 4/10/2024 DATE COMPLETE APRIL 2024 Oklahoma Joes Barbeque 9500 N 129 E Ave, #130 4/9/2024 Yes Pickleman's (white box) 11310 E 96 St N 4/10/2024 Yes Jimmy's Egg 9529 N Owasso Exp 4/11/2024 Yes Martin Outdoors & Tackle 314 E 5 Ave, #204 4/18/2024 Yes Twisted Tee Golf 314 E 5 Ave, #208 4/18/2024 Yes Parker Village 10703 N Garnett Rd, Building E 4/22/2024 Yes Pickleman's 11310 E 96 St N 4/29/2024 Yes irri►_1Z�3:f�Z�YZ! 5th Avenue Business Park 314 E 5 Ave, Buildings A, B, & C 3/7/2024 Yes Fulfilled Coffee Lab 105 S Main St 3118/2024 Yes Parker Village 10703 N Garnett Rd, Building C 3/18/2024 Yes Parker Village 10703 N Garnett Rd, Building N 3/18/2024 Yes Catrina Fresh Mex 12140 E 96 St N, #110 3/19/2024 Yes Las Delicias Tortilla's 308 E 5 Ave, #E 3/25/2024 Yes Floyd's 99 Barbershop 11340 E 96 St N, #400 3/27/2024 Yes FEBRUARY 2024 Eagle Window Tint 314 E 5 Ave, #201 2/14/2024 Yes Spencer's Gifts 12305 E 96 St N 2/20/2024 Yes Code Wiz 12500 E 86 St N, #102 2/29/2024 Yes JANUARY 2024 T3 Management - Prime Cannabis 427 E 2 Ave 1/16/2024 Yes Pose Studio 7301 N Owasso Exp, Build A, Unit 120 1/18/2024 Yes Bounce Owasso 7301 N Owasso Exp, Build M, Unit 100 -115 1/19/2024 Yes Icy Melts Direct 7794 N Owasso Exp, #3338 1/23/2024 Yes DECEMBER 2023 Parker Village — Clubhouse 10703 N Garnett Rd Texas Roadhouse 9311 N Owasso Exp Redbud Event Center 405 W 2 Ave Great Plains Mattress 7301 N Owasso Exp, Build A, Unit 110 Cava 11340 E 96 St N, #500 SAHO Animal Hospital 401 W 2 Ave Tulsa Bone & Joint 9455 N Owasso Exp, #K NOVEMBER 2023 OK Roots Farm to Market Restore U Wellness Dutch Bros Coffee The Dripbar 169 Business Park (white box only) The Grove Threadz Athletics & Customs Twill Bailey Creek OCTOBER 2023 Eva's Massage & Day Spa Arribin Hills Winery 1 Dream Distribution SmokeKing 11595E116StN 201 S Main St, Suite 180 13202 E 86 St N 9002 N 121 E Ave #450 7301 N Owasso Exp, Building M 7301 N Owasso Exp, Build M, Unit 120 & 125 9100 N Garnett Rd, Suite K 9803 E 96 St N 8703 N Owasso Exp, #P 7301 N Owasso Exp, Build A, Unit 125 7762 N Owasso Exp 7726 N Owasso Exp, Suite A & B CUV of Ow&6. o — ROD S. Ma.i.wSf: Owasso; 0K 74055 12/7/2023 12/8/2023 12/15/2023 12/19/2023 12/20/2023 12/27/2023 12/29/2023 11/7/2023 11/15/2023 11/16/2023 11/17/2023 11/27/2023 11127/2023 11/29/2023 11/30/2023 10/17/2023 10/23/2023 10/26/2023 10/31/2023 Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No Yes Yes Yes Yes Certificate of Occupancy Monthly List NAME ADDRESS 9/19/2023 DATE COMPLETE Hillbilly Tradin Post 105 S Main St 9/6/2023 Yes Studio 31 11595 E 116 St N, #A 9/19/2023 Yes Abundant Health 8263 N Owasso Exp, #G 9/25/2023 Yes Vaya Physical Therapy & Wellness 8751 N 117 E Ave, #H 9/29/2023 Yes AUGUST 2023 Township 21 8550 N 145 E Ave 8/1/2023 Yes OPS Owasso Wellness Center 12901 E 86 St N 8/3/2023 Yes 011ie Pop 209 E 2 Ave, #2 8/3/2023 Yes $5 Gold Diggers 8751 N 117 E Ave, #A 8/3/2023 Yes Performance Repair 520 S Cedar St, #D 8/10/2023 Yes 169 Business Park (white box only) 7301 N Owasso Exp, Building E 8/16/2023 Yes Journey To Success 13315 E 112 St N, #206 8/21/2023 Yes Salad & Go 11360 E 96 St N 8/22/2023 Yes Owasso Motors 7301 N Owasso Exp, Build E, Unit 100 8/22/2023 Yes Where The Wild Things Play 117 S Main St 8/28/2023 Yes The D Taylor 7301 N Owasso Exp, Build E, Unit 125 8/30/2023 Yes Owasso Physical Therapy 8283 N Owasso Exp, #C 8/30/2023 Yes JULY 2023 Pool Time 11560 N 135 E Ave, #101 -B 7/5/2022 Yes Dunkin Donuts 11420 E 96 ST N 7/6/2023 Yes 918 Family Wellness 8430 N 123 E Ave 7/11/2023 Yes JUNE 2023 Foster's Auto Body 108 S Birch St 6/5/2023 Yes Evergreen Coffee Co. 11204 N Garnett Rd 6/8/2023 Yes On Call Pediatrics 12150 E 96 St N, #10 6/21/2023 Yes Healing Harvest Growers 7794 N Owasso Exp, #3338 6/26/2023 Yes Owasso Joy Academy 9000 N 145 E Ave 6/26/2023 Yes Hawaiian Bros 11602 E 96 St N 6/23/2023 Yes Owasso Behavioral Health 12808 E 86 St N 6/27/2023 Yes Armstrong Bank 12401 E 86 St N 6/28/2023 Yes MAY 2023 Vision Source 10304 N Garnett Rd 5/1/2023 Yes T Nugs World of Cannabis Dispensary 11230 N Garnett Rd, #B 5/11/2023 Yes Gift' of Owasso- ^ 200 S. Mai vSf: Owasso; OK 74055 PERMITS APPLIED FOR IN APRIL 2024 ADDRESS BUILDER ADD /ZONE VALUE A.S.F. PERMIT# 7523 N 155 E Ave Premium Land HL /RS3 $ 80,000 800 24- 0401 -S 10015 N Owasso Exp JP Construction CCA /RM $ 335,251 2,020 24- 0402 -P 314 E 5 Ave, #103 West Construction 5thABP /IL $ 504,000 4,800 24- 0403 -C 9455 N Owasso Exp, #H Cripple Creek Const. TPI /CS $ 558,900 5,589 24- 0404 -C 314 E 5 Ave, #209 West Construction 5thABP /IL $ 252,000 2,400 24- 0405 -C 13307 E 96 St N Stout Construction FBC /RS2 $ 1,500,000 23,463 24- 0406 -C 9441 N Garnett Rd, #100 Falcon Construction SFV /CS $ 550,000 5,600 24- 0407 -C 13413 E 124 St N Simmons Homes MPIII /RS3 $ 187,125 2,495 24- 0408 -X 12306 N 133 E Ave Capital Homes MPIII /RS3 $ 172,575 2,301 24- 0409 -X 8300 N Owasso Exp Claude Neon Signs Unplatted $ 34,000 88 24- 0410 -5 10314 N 138 E Ave A -Max Signs CCOP /0 $ 5,000 29 24- 0411 -S 14703 E 80 PI N Custom Pools PH /RS3 $ 60,000 560 24- 0412 -P 13211 E 125 St N Simmons Homes MPIII /RS3 $ 88,800 1,584 24- 0413 -X 9700 N Garnett Rd Crown Neon Signs ERV /CS $ 11,560 140 24- 0414 -5 14303 E 95 PI N Sierra Pools NH /RS3 $ 72,730 606 24- 0415 -P 13206 E 92 PI N Homeowner WLII /RS3 $ 40,000 400 24- 0416 -X 7910 N 149 E Ave Four Season Sunrooms PH /RS3 $ 21,500 286 24- 0417 -X 10703 N 121 E Ave Capital Homes PV /RS3 $ 172,575 2,301 24- 0418 -X 15806 E 75 St N Shaw Homes SC /RS3 $ 164,100 2,188 24- 0419 -X 10715 N 120 E Ave Capital Homes PV /RS3 $ 256,725 3,423 24- 0420 -X 13308 E 123 PI N Capital Homes MPIII /RS3 $ 172,575 2,301 24- 0421 -X 13207 E 125 St N Simmons Homes MPIII /RS3 $ 116,925 1,559 24- 0422 -X 13407 E 124 St N Simmons Homes MPIII /RS3 $ 146,550 1,954 24- 0423 -X 12401 E 86 St N MTC Tulsa Unplatted $ 15,000 100 24- 0424 -5 7421 N 160 E Ave Shaw Homes SC /RS3 $ 164,100 2,188 24- 0425 -X 15902 E 75 St N Shaw Homes SC /RS3 $ 164,100 2,188 24- 0426 -X 9441 N Garnett Rd, #100 A -Max Signs SFV /CS $ 8,000 61 24- 0427 -S 9540 N Garnett Rd, #103 lGood Works Const. CC /CS $ 250,000 2,000 24- 0428 -C 11 Single Family $ 1,806,150 24,482 SgFt 2 Residential Remodel $ 61,500 686 SgFt 6 Commercial Remodel $ 3,614,900 43,852 SgFt 6 Signs $ 153,560 1,218 SgFt 3 Pool $ 467,981 3,186 SgFt 28 Total Building Permits $ 6,104,091 73,424 SgFt C-,fy of Owasso-;ZOO S. MaZ4wSf- Owasso-, OK 74055 City of Owasso Public Work Department STATUS REPORT May 7, 2024 - Garnett Road Widening (E 106 St N to E 116 St N) - Engineering design is 95% complete. - Land acquisition is complete. - Utility relocation is expected to be complete in May 2024; followed by roadway construction in late summer of 2024. Minqo and E 116 St N Intersection /E 116 St N from Minao to Garnett Road Improvements - On February 21, 2023, City Council approved construction contract with Crossland Heavy Construction. - Construction commenced in May 2023. - Concrete placement continues from Mingo to Garnett. - Traffic Signal placement is underway and is in flashing mode at the intersection of Mingo and E 116th St N. - All paving at the access point to the sports park is complete. - Substantial completion is expected in August 2024, with final completion by October 2024. E 96 St N from approximately N 119 E Ave to N 129 E Ave Improvements - With the cost exceeding the budget by $3 million, the project has been split into two phases. - The east phase will include improvements from the US 169 bridge and E 96 St N to N 129 E Ave. Bid opening will occur on May 30 2024, with construction commencing in August 2024. - The west phase will include improvements from N 119 E Ave to US 169 and E 96 St N bridge. Bid leffing is expected to occur in October 2024, with construction commencing in January 2025. - E 106 St N and N 129 E Ave Intersection Improvements - Engineering design is approximately 90% complete. - Right -of -way negotiations continue with 1 out of the 17 property owners. - VVEC has completed relocating poles on the NE corner of the project. - Remaining utility relocation will commence as soon as the remaining right -of -way is acquired. Ranch Creek Interceptor Improvements from E 96 St N to E 116 St N - In January 2024, OPWA approved a construction contract with Timberwolf Construction. - Clearing and grubbing along with pipe installation commenced In April 2024, with completion expected by March 2025. - 2022 Street Rehabilitation Proiect - The street rehab project is separated into two phases as shown below: • First Phase - Various street improvements in Baptist Retirement Center, Elm Creek Estates, Three Lakes II and Coffee Creek subdivisions are complete. • Second Phase - N 97 E Ave (Mingo Rd) from E 96 St N to E 116 St N - Cooperative effort between Tulsa County and City of Owasso to do full depth reclamation of the asphalt roadway. Construction is scheduled to commence in July 2024. • Third Phase - January 30, 2024, Tulsa County commenced with the asphalt overlay on E 76 St N from N 129 E Ave to N 145 E Ave. Roadway Improvements along with roadway striping is complete. - E 96 St N and N 145 E Ave Intersection Improvements - In November 2021, City Council approved an engineering agreement with Garver LLC. - Engineering design is approximately 95% complete. - Land acquisition continues with 2 of the 13 property owners. - Utility relocation will commence once right -of -way is acquired. - E 96 St N from N 134 E Ave to N 145 E Ave Improvements - In July 2022, City Council approved an engineering agreement with Garver Engineering. - Engineering design is approximately 80% complete. - Land acquisition commenced in March 2024; followed by utility relocation. - 2023 Street Rehabilitation Proiect (Main Street Improvements) - Construction phase will be separated into two phases. First phase - Street Improvements from 3m Street to 11th Street will commence before June 1, 2024, with completion by November 2024. Second Phase - Street Improvements from Broadway to 3m Street will commence in November 2024, with completion by February 2025. Public Works and Vehicle Maintenance Facilitv - In October 2022, OPWA approved an architectural /engineering agreement with Beck Design. - The schematic design is complete. - Staff is currently reviewing the 95% set of plans. - Bid advertisement is tentatively scheduled for May 30th 2024, with bid opening on June 25th, 2024. - _Original Elm Creek Interceptor Rehabilitation - In January 2024, OPWA approved a construction contract with Insituform Technologies, LLC. - Construction commenced in May 2024, with completion by August 2024. - _117th Force Main Replacement - In March 2021, OPWA approved an engineering agreement with Kellogg Engineering, Inc. - Engineering design is approximately 95% complete. - Easement obtainment commenced in October 2023; followed by construction. - Land acquisition continues with 7 of the 9 property owners. - Re- evaluating the project alignment in order to reduce potential cost in easement acquisition. - Morrow Gravity Sanitary Sewer Line Extension - In March 2024, OPWA approved a construction contract with GC Enterprises, LLC. - Construction is scheduled to commence in May 2024, with completion in early Fall 2024. P 5 — sd REAL People • REAL CM1aracrer •REAL Commmh TO: Honorable Chair and Trustees Owasso Economic Development Authority FROM: Carly Novozinsky, Finance Director SUBJECT: Hotel Tax Fund, 3% Expenditures DATE: May 3, 2024 BACKGROUND: In 2002, Owasso voters approved a 3% hotel tax with the funds to be "set aside and used exclusively to encourage, promote and foster economic development and cultural enhancement, tourism and pursue regional promotion for the City of Owasso..." In August 2008, Owasso citizens voted to increase the hotel tax rate to 5 %. The 2% increase was designated by the City Council to fund the Strong Neighborhood Initiative. 3% ECONOMIC DEVELOPMENT HOTEL TAX FUND EXPENDITURES: The Hotel Tax fund (City of Owasso) is used to account for the revenues received from the hotel tax and to account for the use of those restricted funds. Recognizing the OEDA Trustees' Interest in the appropriation of funding for economic development, the proposed budget for fiscal year 2024 -2025 for the 3% Hotel Tax fund is presented to the OEDA for review. The fiscal year 2024- 2025 budget for the City of Owasso will be presented on Tuesday, June 18, 2024, for Council consideration and appropriate action. For fiscal year 2024 -2025, the estimated revenue from the Economic Development 3% hotel tax is $371,722, which is a 3% decrease from fiscal year 2023 -2024 estimated revenues. The proposed Economic Development Hotel Tax fiscal year 2024 -2025 expenditure budget is $98,000. The proposed budget is flat compared to the adopted fiscal year 2023 -2024 Economic Development Hotel Tax budget. RECOMMENDATION: Staff will present the proposed fiscal year 2024 -2025 Economic Development 3% Hotel Tax Budget for OEDA consideration and recommendation to the Owasso City Council. ATTACHMENT: Hotel Tax Fund - Revenues and Expenditures Budget for fiscal year 2024 -2025 Hotel Tax Fund -3% Expenditures Detail for fiscal year 2024 -2025 Description Economic Forecast Strategic Plan Initiatives Other Projects TOTAL CITY OF OWASSO Hotel Tax Fund - 3% Economic Development Proposed Budget FY 2024 -2025 Budgeted Expenditures FY23 Budgeted Expenditures FY24 Proposed Expenditures FY25 $ 5,000 $ - $ - 88,000 88,000 88,000 5,000 10,000 10,000 $ 98,000 $ 98,000 $ 98,000 P 1� W 0)N gre g e e ge U O, o � 000 cq O N y t N M N 6 6 0 d dU N OD O ' 00 O �o o N N N LO O O � W M N n P 10 ' 0 C) �O �O Cl) O N 0� C6 Cd C15 vi O N OO 00 Cl) Cl) C N CN N aN CO a � tH 64 b4 V} yj. y} b'T P 1� ( J O O M V CO V v N OD O ' 00 O �o o N O OD (h N P P W O O U N N CN Q a � 64 b4 64 tPr tR b4 64 V N n 'IT W co VP' 10 ' P P 10 P O a `V a h 7 a 7 M co M V O^. (Y) 00 N Q Y N} (ry. 64 64 b'} b4 Hi V O n W h N O m M M Cl) 10 10 N P N n � N vi O C7 CO D Cl) M c7 (C) co a; LL ti} b4 6+ to+ b'? to 64 N L N 4) C N n_ Q V u� N ID C N V w O Q m O C N O 6 O m E O U N N U '_.._ __; >' U Q C (� N 0 N E C '^ y N c V N U 6 X N O o 6) m C j � o a O E U U E(D >= c p O. W O Q N N O W 4) 0 W N Z N d d TO: The Honorable Chair and Trustees Owasso Economic Development Authority FROM: Carly Novozinsky, Finance Director SUBJECT: Fiscal Year 2024 -2025 Budget Approval Resolution No. 2024-01 DATE: May 3, 2024 BACKGROUND: The proposed budget for fiscal year 2024 -2025 is presented to the OEDA Trustees for review. As a Title 60 Public Trust, the OEDA is required to file an annual budget with its beneficiary, the City of Owasso. The budget or appropriation for a public trust is not a legal restriction on the expenditure of funds as it is for a municipality. Resolution 2024 -01 adopts the annual operating budget for the OEDA. RECOMMENDATION: Staff recommends Trustee approval of Resolution 2024 -01 adopting the fiscal year 2024 -2025 budget proposal with estimated resources of $9,800 and total appropriations for expenditure of $5,000. ATTACHMENTS: OEDA Proposed Fiscal Year 2024 -2025 Budget OEDA Budget Adoption Resolution OWASSO ECONOMIC DEVELOPMENT AUTHORITY FUND Other Funds - Fund 50 DESCRIPTION The Owasso Economic Development Authority Fund (OEDA) is established to account for revenues and expenditures of the City's Economic Development Trust Authority, a separate legal entity whose governing body is appointed by the Mayor or City Council. The purpose of the OEDA is to plan, implement, and promote projects and programs that will directly benefit the economic well -being of the community. BUDGET HIGHLIGHTS The FY 2025 budget includes $5,000 in contingency funding for Economic Development activities that may arise during the fiscal year. SUMMARY OF REVENUES AND EXPENDITURES OWASSO ECONOMIC DEVELOPMENT AUTHORITY FUND Expenditures Other Services Total Departmental Expenditures Surplus /(Excess Expenditure) Projected Beginning Fund Balance Projected Ending Fund Balance $ - $ - $ - $ 5,000 100.07. $ - $ - $ - $ 5.000 100.07 $ 38 $ 118 $ 115 $ (4,910) $ 9,439 $ 9,477 $ 9,595 $ 9,710 1.27 $ 9,477 $ 9,595 $ 9,710 $ 4,800 -50.67. Projected Proposed Percent Actual Actual Actual Budget Change FY 21 122 FY 22 123 FY 23 1 24 FY 24 1 25 FY 24 125 Revenues Interest - -- $ 38 $ 118 $ 115 $ 90 -21.7% Total Revenues $ 38 $ us $ 115 $ 90 -21.7% Expenditures Other Services Total Departmental Expenditures Surplus /(Excess Expenditure) Projected Beginning Fund Balance Projected Ending Fund Balance $ - $ - $ - $ 5,000 100.07. $ - $ - $ - $ 5.000 100.07 $ 38 $ 118 $ 115 $ (4,910) $ 9,439 $ 9,477 $ 9,595 $ 9,710 1.27 $ 9,477 $ 9,595 $ 9,710 $ 4,800 -50.67. OWASSO ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 2024 -01 A RESOLUTION PROVIDING FOR THE ADOPTION OF AN ANNUAL OPERATING BUDGET FOR THE OWASSO ECONOMIC DEVELOPMENT AUTHORITY; ESTABLISHING LEVELS OF EXPENDITURES AS PROVIDED BY STATUTE; AND ESTABLISHING AN EFFECTIVE DATE. WHEREAS: It is the intent of the Owasso Economic Development Authority to adopt an operating budget for fiscal year 2024 -2025; and, WHEREAS: The adoption of such budget is vital to the continuation of services to the citizens of Owasso; and, WHEREAS: Public access to the adopted budget is desired; and, WHEREAS: Certain filing requirements are mandated by State Statutes. NOW THEREFORE, BE IT RESOLVED BY THE TRUSTEES OF THE OWASSO ECONOMIC DEVELOPMENT AUTHORITY: THAT: Total resources available in the amount of $9,800 and total appropriations in the amount of $5,000 are hereby established. THAT: The effective date of this Resolution shall be July 1, 2024. APPROVED AND ADOPTED this 9th day of May, 2024 by the Trustees of the Owasso Economic Development Authority. Dee Sokolosky, Authority Chair ATTEST: Juliann M. Stevens, City Clerk