FACILITIESRATIFIED

Stratford Town Council Meeting Agenda May 11, 2026

Town Ratifies East Broadway Sale to Romano Brothers Builders

$1,694,000.00Housing Authority of the Town of StratfordROMANO BROTHERS BUILDERS LLCMay 11, 2026

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Description

Stratford Town Council ratified its Development and Land Disposition Agreement with Romano Brothers Builders LLC for the $1,694,000 sale of the 1000 and 952 East Broadway parcels. The action includes long-term ground leasing back of 952 East Broadway, shared parking and access easements, and a minimum ten‑year maintenance commitment for the 154‑unit transit-oriented development project.

Contract Details

Contract Amount

$1,694,000.00

Vendor

ROMANO BROTHERS BUILDERS LLC

Agency

Housing Authority of the Town of Stratford, OK

Contract Type

FACILITIES

Document Date

May 11, 2026

Contract Term

Ground lease up to ninety-nine (99) years; Developer to maintain the Project for not less than ten (10) years

Renewal Info

Includes an absolute net ground lease of up to 99 years for 952 East Broadway in favor of the Town and a declaration of restrictive covenants obligating the Developer to maintain the Project for at least 10 years; future amendments and related easements authorized to be executed by the Mayor.