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.
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INITIATOR: Christine James, Planning Department 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 underscored the urgency of finding interim solutions. As part of this effort, current and prospective leasing arrangements will be negotiated with Terry Bell, the incumbent lessee. The proposed lease agreement entails a monthly cost of $1,300. This expense will be distributed annually as follows: $12,480 from federal funding and $3,120 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.
EXHIBIT: 1. Lease Agreement
2. Projected Costs for 2505 SW 6th ST, Lawton, OK 73501
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 Funding: 20% (allocated from the FY 2024-2025 LATS budget)
STAFF RECOMMENDED TRUST ACTION: Approve the lease agreement with Terry K Bell II for additional...
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