Broken Arrow Continues To Grow With Plans To Develop Tiger Hill
BROKEN ARROW, Oklahoma - Broken Arrow's City Council gave the go ahead for a plan designed to attract even more restaurants and retail to town.
It takes surplus city property, turns it over to the economic development authority and then is sold to a developer.
The goal is to bring in business and more tax dollars.
It doesn't look like much now, but Broken Arrow's Economic Development Coordinator, Norman Stephens, sees plenty of potential at a place called Tiger Hill on the north side of town.
"The Tiger Hill area is really a remarkably attractive piece of property," Stephens said.
One attractive part, from a business perspective, is the heavy traffic around it.
City leaders in Broken Arrow are signing off on a plan that transfers the property on the southwest corner of Lynn Lane and Kenosha, to the city's economic development authority, to be used for further economic development.
Justin Henry with Mattress King likes the idea of more development in Broken Arrow.
"Broken Arrow is kind of a bedroom community. I think they would like to spend their money here in the Broken Arrow community rather than driving to Tulsa to spend their tax dollars there," Henry said.
The plan also clears the way for a private developer, P&H Properties to buy the nearly seven acres for $3 million.
P&H will develop the property to attract retail and restaurants.
"Nice sit down type restaurants that will bring in good food, good atmosphere, but also will produce sales tax dollars,” said Stephens.
The thinking is those sales tax dollars can be reinvested into city services, and to pay down investments made in Broken Arrow's Rose District.
"The city fathers realized that when we did the TIF In 2010 the way to pay it back was going to be through new sales tax and new ad valorem tax, and even though the Rose District is very successful, we realized we were needing something that would help produce high sales tax," Stephens said.
The developer is still in the process of recruiting retailers and restaurants to the area.