Development Agreement with Oak Meadows, LLC

Development Agreement with
Oak Meadows, LLC for B&B
Shawnee 18/ WestGlen Center
City Council Meeting
July 11, 2016
Project Team
Applicant: Jack Waters, Oak Meadows, LLC/
Parkway Real Estate
Tenant:
Bob Bagby - President
Brock Bagby - Director of Programming &
Business Development
Dennis McIntire - Executive Director of
Development & Construction
Private Lender: Dennis Monahan, Central Bank of
Midwest
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Development Agreement
City sales and property tax increment projected
$ 1.87M increment over 20 years
$ 6.4M theatre investment
Pad sites will be an additional significant investment
$ 1.5M theatre and site improvements
reimbursement
Costs reimbursed from ED Fund over 10 years
Special sales taxes will increase
Other taxing jurisdictions will benefit
Clawback in place if ceases to do business
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Questions?
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