Owasso committee approves consent to transfer and revised deed restrictions for 840 S. 60 Sixth Ave.

The Owasso Economic Development Committee on July 1 approved staff’s recommendation to consent to transfer and record revised deed restrictions for 840 South 60 Sixth Avenue, an industrial property south of Highway 29.

Economic Development Manager Lynch described the city’s practice of updating deed restrictions on properties in the business campus as buildings come up for sale. Lynch said the property under offer would receive revised restrictions intended to reflect that the lot is now developed rather than an unimproved parcel.

Staff identified an offer to purchase the property from 4 Gen Enterprises to RSAI Flash 01 (as stated in the meeting packet) and presented a letter from the current owner asking the city to exercise its right of first refusal; that owner later accepted the revised deed restrictions, the packet stated. The committee voted to forward the consent and revised restrictions to council for final processing.

The motion to authorize consent to transfer, waiver of right of first refusal, termination of recorded deed restrictions and recording of a revised set of deed restrictions was made by Alder Tierney, seconded by Alder Killian, and the motion passed unanimously at committee.

The committee did not alter the substance of the proposed deed restrictions during the meeting; staff indicated the revisions reflect changes in site status and are intended to protect the city’s interests as the property changes ownership.

Quotes below are taken from the committee transcript of the July 1 meeting.