ITEM TITLE:
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Consider approving the annual Cooperative Agreement and an Agreement for Limited Funding between the City of Lawton and the Transit Trust to provide funds for the operation of a public transit system and authorize the Chairman and Secretary to execute the same.
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INITIATOR: Christine James, Planning Director
STAFF INFORMATION SOURCE: Ryan Landers, LATS General Manager
BACKGROUND: Included in the FY 2024-2025 City budget is funding in the amount of $1,400,000 for the public transit system for the upcoming year. These funds in addition to Federal Transit Administration (FTA) monies will be used by the Trust to operate transit service. Per the recommendation of the City Attorney, each year the City Council and the Transit Trust are asked to approve annual agreements to transfer this money to the Transit Trust. Approval of these annual agreements is considered to be a routine action.
EXHIBIT: Cooperative Agreement
Agreement for Limited Funding
KEY ISSUES: N/A
FUNDING SOURCE: City of Lawton
STAFF RECOMMENDED TRUST ACTION: Approve the Cooperative Agreement and the Agreement for Limited Funding between the City of Lawton and the City Transit Trust to provide funds for the operation of a public transit system and authorize the Chairman and Secretary to execute the same.