ITEM TITLE:
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Consider approving a First Amendment Agreement between the Lawton Youth Sports Trust Authority and the City of Lawton for FY 24-25, contingent upon the Lawton Youth Sports Trust Authority also approving the agreement, providing $345,000.00 from the General Fund for program support and $700,000.00 from the 2019 Capital Improvement Fund for the design and/or purchase or lease of property to be the site of a sports complex.
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INITIATOR: Larry Parks, Parks and Recreation Director; Rebecca Johnson, Finance Director
STAFF INFORMATION SOURCE: Larry Parks, Parks and Recreation Director; Rebecca Johnson, Finance Director
BACKGROUND: On July 23, 2024, Lawton City Council approved an agreement between the Lawton Youth Sports Trust Authority (LYSA) and the City of Lawton for FY25, providing $300,000.00 from the General Fund for program support and $700,000.00 from the 2019 Capital Improvement Fund for the design and/or purchase or lease of property to be the site of a sports complex. LYSA has requested an additional $45,000.00 from the General Fund for program support. This amendment updates the limited support agreement to include the additional $45,000.00 requested.
EXHIBIT: Proposed First Amendment LYSA Agreement with Budget
KEY ISSUES: N/A
FUNDING SOURCE: General Fund and 2019 Capital Improvement Fund
STAFF RECOMMENDED COUNCIL ACTION: Approve the First Amendment Agreement between the Lawton Youth Sports Trust Authority and the City of Lawton for FY 24-25, contingent upon the Lawton Youth Sports Trust Authority also approving the agreement, providing $345,000.00 from the General Fund for program support and $700,000.00 from CIP funds for the design and/or purchase or lease of property to be the site of a sports complex.