ITEM TITLE:
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Consider approving a resolution amending the City of Lawton FY 23-24 budget, as amended, by appropriating One Million and 00/100 Dollars ($1,000,000.00) from Hotel Tax fund to FISTA for an economic development incentive to R4 Technologies, and One Million One Hundred Three Thousand One Hundred Twenty-Eight and 73/100 Dollars ($1,103,128.73) for FISTA operations and insurance, One Million Five Hundred Twenty-Five Thousand and Three Hundred Fifty 00/100 Dollars ($1,525,350.00) to the Parks CIP Project for the purpose of Parks improvements as approved during the November 14, 2023 City Council Meeting, One Million 00/100 Dollars (1,000,000.00) to pay industrial development incentive from the Economic Development Project of the CIP Fund, and Two Hundred Thirty-Five Thousand Five Hundred One and 00/100 Dollars ($235,501.00) for youth programs recommended by the Youth and Family Affairs Committee.
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INITIATOR: Joe Don Dunham, Finance Director
STAFF INFORMATION SOURCE: Joe Don Dunham, Finance Director
BACKGROUND: In accordance with the True North Culture of transparency, trust and efficiency a budget amendment is needed to appropriate One Million and 00/100 Dollars ($1,000,000.00) from Hotel Tax fund to FISTA for an economic development incentive to R4 Technologies, and One Million One Hundred Three Thousand One Hundred Twenty-Eight and 73/100 Dollars ($1,103,128.73) for FISTA operations and insurance, One Million Five Hundred Twenty-Five Thousand and Three Hundred Fifty 00/100 Dollars ($1,525,350.00) to the Parks CIP Project for the purpose of Parks improvements as approved during the November 14, 2023 City Council Meeting, One Million 00/100 Dollars (1,000,000.00) to pay industrial development incentive from the Economic Development Project of the CIP Fund, and Two Hundred Thirty-Five Thousand Five Hundred One and 00/100 Dollars ($235,501.00) for Youth Programs as recommended by Youth and Family Affairs Committee.
EXHIBIT: Resolution No...
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