ITEM TITLE:
Title
Consider approving a lease agreement with Terry K. Bell II for a building to house additional operational space for LATS located at 2505 SW 6th Street, Lawton, OK, and authorizing the Chairman and Secretary to execute the lease.
body
INITIATOR: Christine James, Planning Director
STAFF INFORMATION SOURCE: Ryan Landers, LATS General Manager
BACKGROUND: LATS has identified the necessity for additional space to enhance its operational efficiency. To address these needs, LATS applied for a grant to secure funding for the construction of a new Transfer Center, Maintenance, and Operations Facility. Unfortunately, the grant application was not awarded funding, which has highlighted the urgency of finding interim solutions. As part of this effort, current and prospective leasing arrangements will be negotiated with Terry Bell, the incumbent lessor. The proposed lease agreement entails a monthly cost of $1,300, totaling approximately $9,100 for the remainder of the fiscal year. This expense will be distributed as follows: $7,280 from federal funding and $1,820 from local sources. The lease will serve as a temporary measure while LATS explores alternative funding opportunities and strategies for securing a more permanent solution to its space requirements. The additional annual costs are within the current capabilities of LATS to afford.
EXHIBIT: 1. Lease Agreement
2. Estimated Startup Cost, Including Lease, Projected First-Year Costs, Including
Lease, and Projected Annual Costs, Including Lease.
3. Location Map
4. Site Map
KEY ISSUES: This lease represents a temporary solution to address immediate operational needs while awaiting the construction of a new Transfer Center, Maintenance, and Operations Facility. It is important to note that this new facility's development is contingent upon securing federal funding.
FUNDING SOURCE:
? Federal Funding: Urbanized Area Formula Grant (5307) - 80%
? Local F...
Click here for full text