Bartlesville Development Authority Regular Meeting

Bartlesville Development Authority Board of Trustees 201 SW Keeler Ave (Depot) Bartlesville, OK 74003 Gayle Lester Chair ----- MEETING AGENDA ----- 8:00 a.m. Jamie Bennett October 25th, 2023 Secretary/Treasurer Call to Order -Gayle Lester Drew Ihrig Minutes – Presentation of June 28th Meeting Minutes and September 19th 2023 Special Meeting Diana Moon Adams Minutes -Gayle Lester Chase Allcott Financials – Presentation of year-end FY 2023 Financials and September 2023 Financial Statements -David Wood Audit restatement – Government Accounting Standards Board (GASB) changes regarding capital leases were not incorporated into June 2022 Audit necessitating correction and Ex-Officio reissuance –Robert Haley, BLHK Members Dale Copeland • Motion and vote to accept the restated audit as presented – Gayle Lester Mayor • Discuss and possibly take action engaging Arledge, CPA to conduct BDA’s 2023 Audit – Jim Curd David Wood Vice Mayor Executive Session David Wood President • Motion and vote to move to Executive Session pursuant to 25 O.S. Sec. 307 (C) (11) for the purpose of conferring on matters pertaining to economic development, including David King the transfer of property, financing, or the creation of a proposal to entice a business to Legal Counsel locate within their jurisdiction. Return to Open Session • Discuss and take action on a proposal to sell BDA-owned 4,000 sqft industrial building, Lot 6, Bartlesville Industrial Park, Sections 1 & 2 and a final plat of a portion of the SW/4 of Section 14, Township 26, Range 13 East, to ABB for its appraised value of $425,000 and recommend to the City Council allocating up to $900,000 from the EDF for job creation incentives up to a maximum of 60 new fulltime ABB employees at $15,000 per new FTE over 36 months, and appropriating up $600,000 to fund the Resident Recruitment employee incentive for up to 60 new residents associated with ABB’s expansion over 36 months. Approval is subject to final documents acceptable to BDA Chair and Legal Counsel, and the Bartlesville City Council. – David Wood • Discuss and take action extending for an additional three years ABB’s existing Right of First Refusal for acquiring approximately 16 acres of adjacent property (Lots 1,2, and 3, Bartlesville Industrial Park, Section III, Bartlesville, Washington County, Oklahoma.) at no cost for potential future development at a ratio of 7,500 sqft of new interior space per acre. The amended RFR will commence upon the closing of the building purchase and remain available to ABB for ten (10) years. – David Wood Staff Reports Public Comment Adjourn  The Agenda was received and filed in the Office of the City Clerk, Bartlesville, Oklahoma on Monday, October 23, 2023 at 3:24 p.m. and posted same day at 5:00 p.m. Jason Muninger /s/ Elaine Banes Jason Muninger, CFO/City Clerk by Deputy City Clerk Open Meetings Act Compliance (25 O.S. Sec. 301 et seq.): All discussion items are subject to possible action by the Bartlesville Development Authority (BDA). Official action can only be taken on items which appear on the agenda. The BDA may adopt, approve, ratify, deny, defer, recommend, amend, strike, or continue any agenda item. When more information is needed to act on an item, the BDA may refer the matter to the City Manager, Staff or City Attorney, or back to a committing or other recommending body. Under certain circumstances, items are deferred to a specific later date or stricken from the agenda entirely. Agenda items requiring a public hearing as required by law will be so noted. The BDA may at their discretion change the order of the business agenda items. City of Bartlesville encourages participation from all its citizens. If participation at any public meeting is not possible due to a disability, notification to the City Clerk at least one working day prior to the scheduled meeting is encouraged to make the necessary accommodations. The City may waive this rule if signing is not the necessary accommodation.