ITEM TITLE: Consider approving an Agreement between the Lawton Youth Sports Trust Authority and the City of Lawton for FY 24-25, providing $300,000.00 for program support and $700,000.00 from CIP funds for design and/or purchase or lease of property to be the site of a sports complex.
INITIATOR: Larry Parks, Parks and Recreation Director; Rebecca Johnson, Finance Director
STAFF INFORMATION SOURCE: Larry Parks, Parks and Recreation Director
Rebecca Johnson, Finance Director
Timothy Wilson, Deputy City Attorney
BACKGROUND: The Agreement provides Three Hundred Thousand Dollars ($300,000.00) for the support programs during the 2024-2025 fiscal year. Additionally, the Agreement makes available to the Authority the sum of Seven Hundred Thousand Dollars ($700,000.00) from CIP funds for the design and/or purchase or lease of real property to be the site of an indoor facility (sports complex), as approved by the registered voters of the City of Lawton at an election held on February 11, 2020.
EXHIBIT: Proposed LYSA Agreement with Budget
KEY ISSUES: N/A
FUNDING SOURCE: The funding for this agreement is to come from both the CIP and the FY 2025 Parks and Recreation Budget.
STAFF RECOMMENDED COUNCIL ACTION: Approve the Agreement between the Lawton Youth Sports Trust Authority and the City of Lawton and authorize the Mayor and City Clerk to execute the Agreement.