ITEM TITLE:
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Consider approving an agreement between the Lawton Farmers Market Institute and the City of Lawton, subject to the Lawton Farmers Market Institute also approving the agreement, to fund activities by the Market designed to encourage, promote and foster tourism and economic development in the City, and authorize the Mayor and City Clerk to execute the agreement.
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INITIATOR: Rebecca Johnson, Finance Director
STAFF INFORMATION SOURCE: Rebecca Johnson, Finance Director
BACKGROUND: The Lawton Farmers Market Institute seeks to obtain funding from the Hotel/Motel Tax that would enable them to continue their efforts to encourage, promote and foster tourism and economic development. Funds requested would not exceed the amount of Fifty Thousand One Hundred and 00/100 Dollars ($50,100.00). The agreement includes a provision providing that the Lawton Farmers Market Institute’s receipt of such funds shall be subject to the City’s collection of sufficient Hotel/Motel tax revenue to cover the City’s budgeted Hotel/Motel tax obligations.
EXHIBIT: Proposed agreement with attached budget; Hotel/Motel Tax Resolution
KEY ISSUES: N/A
FUNDING SOURCE: Hotel/Motel Tax Funds
STAFF RECOMMENDED COUNCIL ACTION: Approve the agreement, subject to the Lawton Farmers Market Institute also approving the agreement, and authorize the Mayor and City Clerk to execute the agreement.