Bartlesville Development Authority Special Meeting

Bartlesville Development Authority Board of 201 SW Keeler Ave (Depot) Trustees Bartlesville, OK 74003 Bob Fraser Chairman ---- SPECIAL MEETING AGENDA ----- 8:00 a.m. Lori Roll February 17, 2017 Secretary Ford Drummond Treasurer Call to Order – Bob Fraser Martin Garber Move to Executive Session Glenn Bonner Motion and vote to move to Executive Session pursuant to 25 O.S. Sec. 307 (C) (10) for the purpose of conferring on matters pertaining to economic development, including the transfer of Ex-Officio property, financing, or the creation of a proposal to entice a business to locate within their Members jurisdiction, and Dale Copeland Mayor Pursuant to 25 O.S. Sec. (B) (4) for the purpose of confidential communications between a public body and its attorney concerning a pending investigation, claim, or action of the public Jim Curd body, with the advice of its attorney, determines that disclosure will seriously impair the ability City Councilor of the public body to process the claim or conduct a pending investigation, litigation, or proceeding in the public interest. David Wood President Return to Open Session David King Business Legal Counsel 1. Discuss and take action on a Development Agreement providing up to $3.5 million in development assistance to Silver Lake Investment Partners, LLC, upon completion of 85,000 square feet of retail space for Phase II of Silver Lake Village, subject to the approval of the Bartlesville City Council. 2. Discuss and take action on a Resolution ratifying, confirming, and accepting the responsibilities as designated to the Bartlesville Development Authority (the “Authority”) by the City of Bartlesville, Oklahoma (the “City”) pursuant to the Silver Lake Village Economic Development Project Plan adopted by the City; authorizing the authority to issue its Tax Increment Revenue Note, Taxable Series 2017 (Letter of Credit) (the “Note”) in the aggregate principal amount of not to exceed $3,500,000; waiving competitive bidding and authorizing the Note to be sold on a negotiated basis; ratifying and confirming a security agreement by and between the City and the Authority pertaining to a pledge of certain Ad Valorem and Sales Tax Increment Revenue; approving and authorizing execution of a loan agreement authorizing the issuance and securing the payment of the Note; providing that the organizational document creating the authority is subject to the provisions of the loan agreement; approving and authorizing the execution of a development agreement by and between the Authority and Silver Lake Investment Partners, LLC; approving and authorizing execution of a sales tax agreement by and between the City and the Authority; approving the use of assistance in development financing approving and authorizing the execution of the Note and other documents related to the transaction, including professional services agreements; and containing other provisions related thereto, subject to the approval of the Bartlesville City Council. 3. Discuss and take action approving and authorizing execution of a First Amendment to Development Agreement by and between the BDA Bartlesville Investment Partners, LLC, pertaining to the Silver Lake Village Development (Phase I).  4. Discuss and take action on a Resolution authorizing President and/or Chairman to execute loan and transaction documents related to Silver Lake Village Phase II following review and approval of BDA legal counsel. New Business Public Comment Adjourn The Notice of Special Meeting and Agenda was received in the office of the City Clerk at 3:28 p.m. on Tuesday, February 14, 2017 and posted same day at 5:00 p.m. Mike Bailey /s/ Elaine Banes Mike Bailey, City Clerk by Deputy City Clerk