ITEM TITLE:
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Consider approving a resolution amending the City of Lawton FY25 Budget, as amended, by appropriating $2,000,000.00 to the Capital Improvement Projects Fund for the Rogers Lane I-44 to US-62 Lighting Project.
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INITIATOR: Michael Watrous, Public Works Director
STAFF INFORMATION SOURCE: Rebecca Johnson, Finance Director
BACKGROUND: The City of Lawton and FISTA were awarded an Oklahoma Public/Private Partnership Military Pooled Finance Grant in the spring of 2024. The grant totals $2,000,000.00 and the funds are currently held by FISTA. The money will be used for the Rogers Lane I-44 to US-62 Lighting Project. The City will hire the contractors and receive/pay the invoices. FISTA will provide $1,000,000.00 to the City up front and the remaining $1,000,000.00 once the project is 50% complete. Since the money was originally held with FISTA, the City did not budget for this project in FY25. A budget amendment is needed to appropriate $2,000,000.00 to the Capital Improvement Projects Fund.
EXHIBIT: Resolution No. 24-_____
KEY ISSUES: None
FUNDING SOURCE: Oklahoma Public/Private Partnership Military Pooled Finance Grant
STAFF RECOMMENDED COUNCIL ACTION: Approve Resolution No. 24-_____ amending the City of Lawton FY25 Budget, as amended, by appropriating $2,000,000.00 to the Capital Improvement Projects Fund for the Rogers Lane I-44 to US-62 Lighting Project.