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Wagoner EDA approves agreement to build ‘the Junction’ public event space at 111 South Main
Summary
The City of Wagoner Economic Development Authority voted to enter an agreement with Wagoner County and the City to develop the Junction, a public event space at 111 South Main Street; the $1.2 million contract carries a $200,000 contingency and relies on a mix of private donations, county funds and a proposed city contribution.
The City of Wagoner Economic Development Authority on Oct. 6 voted to enter an agreement with the City of Wagoner and the Wagoner County Economic Development Authority to develop a public event space called the Junction at 111 South Main Street.
Members discussed project financing and risk before the vote. The contract presented to the authority is $1,200,000 with a $200,000 contingency, meaning the project could cost up to $1.4 million if contingency funds are used. The Chandler family has pledged $300,000 and Wagoner County increased its offer to $400,000; the city was being asked to provide $500,000. The transcript notes hope that the remaining $200,000 could come from P3 grants or other sources but that the P3 program has been suspended.
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