HomeMy WebLinkAbout1992.11.18_OEDA MinutesOWASSO ECONOMIC DEVELOPMENT AUTHORITY
MINUTES OF SPECIAL MEETING
Wednesday, November 18, 1992, 9:00 a.m.
Owasso Community Center
301 S Cedar, Owasso, Oklahoma
MEMBERS PRESENT MEMBERS ABSENT STAFF PRESENT
Tom Kimball
Frank Enzbrenner
Alan Anderson
Bill Retherford
Michael Watson
Brenda Lawrence
Patricia Marlar
Steve Compton
Marcia Boutwell
Sherry Bishop
Rodney Ray
Ron Cates
Also present were Max Buchanan and Steve Lurvey from the Max Buchanan Company.
1. CALL TO ORDER
Chairperson Tom Kimball called the meeting to order at 9:20 a.m. and declared a quorum
present.
2. DISCUSSION AND APPROPRIATE ACTION RELATING TO A RESOLUTION
APPROVING THE MAX BUCHANAN COMPANY PROJECT AND
AUTHORIZING EXECUTION AND DELIVERY OF PROJECT - RELATED
DOCUMENTS
All loan and lease /purchase documents relating to the relocation of the Max Buchanan Company
have been prepared by the City Attorney to meet verbally agreed upon conditions. They have
been reviewed by attorneys for the banks and by the staff and are in order. In general the
agreement consists of a $388,000 loan from the banks to the Authority with a variable interest
rate based upon the Prime Rate. The Authority will then lease to the Max Buchanan Company
for an amount that will cover the principal and interest, plus 1/2 of one percent for
administration. The term of both the loan and lease /purchase is 15 years.
Pat Marlar moved to authorize the appropriate authority members and officers to execute and
deliver all project - related documents. Motion seconded by Frank Enzbrenner. A vote on the
motion was recorded as follows:
Pat Marlar - Yes
Frank Enzbrenner - Yes
Bill Retherford - Yes
Michael Watson - Yes
Alan Anderson - Yes
Brenda Lawrence - Yes
Tom Kimball - Yes
The motion carried 7 -0.
Owasso Economic Development Authority
Minutes of November 18, 1992
Page 2
3. DISCUSSION AND APPROPRIATE ACTION RELATING TO THE REVIEW OF
BIDS AND AWARDING OF A CONTRACT FOR THE CONSTRUCTION OF A
BUILDING, PARKING LOT, AND TEMPORARY ROAD FOR THE MAX
BUCHANAN COMPANY IN CONJUNCTION WITH CHANGE ORDER #1
DECREASING THE CONTRACT AMOUNT
On September 16, 1992 the Authority authorized the solicitation of bids for the construction of
a building, parking lot, and temporary entry drive for the Max Buchanan Company. Nine bids
were received and opened on October 19, 1992, with Area Building Company of Tulsa being
the low bidder at $408,785. This low bid was in excess of the maximum loan amount of
$388,000 which was based upon an independent appraisal of $485,000. Changes were made to
the building plans to reduce the construction cost and the low bidder agreed to submit a Change
Order reducing their bid amount to $371,604 per the changed building plans. Pat Marlar moved
to award the bid for the construction of the Max Buchanan Company building, parking lot, and
temporary entry drive, in conjunction with Change Order #1 to the Area Building Company of
Tulsa for the amount of $371,604, conditioned upon final release of funds from the lending
institutions. Motion was seconded by Brenda Lawrence. A vote on the motion was recorded
as follows:
Pat Marlar - Yes
Brenda Lawrence - Yes
Alan Anderson - Yes
Michael Watson - Yes
Bill Retherford - Yes
Frank Enzbrenner - Yes
Tom Kimball - Yes
The motion carried 7 -0.
4. CONSIDER RECESSING AND RECONVENING AT SITE FOR
GROUNDBREAKING CEREMONIES
Frank Enzbrenner moved to recess the meeting and reconvene at the site in thirty minutes for
the groundbreaking ceremonies. Motion was seconded by Alan Anderson. A vote on the
motion was recorded as follows:
Frank Enzbrenner - Yes
Alan Anderson - Yes
Pat Marlar - Yes
Bill Retherford - Yes
Brenda Lawrence - Yes
Michael Watson - Yes
Tom Kimball - Yes
The motion carried 7 -0 and the meeting was recessed at 9:40 a.m.
Mr Kimball reconvened the meeting at the site at 10:10 for the groundbreaking ceremonies.
Owasso Economic Development Authority
Minutes of November 18, 1992
Page 3
5. ADJOURNNIENT
Bill Retherford moved, seconded by Brenda Lawrence for adjournment. A vote on the motion
was as follows:
Bill Retherford - Yes
Brenda Lawrence - Yes
Michael Watson - Yes
Pat Marlar - Yes
Alan Anderson - Yes
Frank Enzbrenner - Yes
Tom Kimball - Yes
The motion carried 7 -0 and the meeting was adjourned at 10:30 a.m.
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Date Approved