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Consider approving an amendment to the Agreement for Funding and Limited Support for the FISTA Development Trust Authority for the 2021-2022 fiscal year to provide an additional $2.0 million to be used for the renovation of the space formerly known as the "Sears Building" to prepare the space for DoD contractors and other industrial development tenants.
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INITIATOR: Richard Rogalski, Deputy City Manager
STAFF INFORMATION SOURCE: Richard Rogalski, Deputy City Manager
BACKGROUND: In July 2021, the Council approved an Agreement for Funding and Limited Support of the FISTA Development Trust Authority, which included funding a sum of $2,268,818 for the operation, management, administration, maintenance, reconstruction and equipping of FISTA facilities during the 2021-2022 fiscal year. As set forth in the Agreement, the primary objective of the FISTA is to promote, create and grow an Innovation Park in the FISTA facilities in Lawton Fort Sill that fosters collaboration of high-technology, industry, academia, defense and defense-related organizations in support of the missions of Fort Sill's FIRES Center of Excellence, Air & Missile Defense, and Cross-Functional Teams of Long Range Precision Fires, thereby further promoting the goal of attracting high-quality jobs and private investment in the Lawton Fort Sill Community. According to the Agreement, expenditure of funds provided by the City must be in strict accordance with a budget as set forth in Exhibit "A" attached thereto. Renovation of the space formerly known as the "Sears Building" was chosen as the first phase of the FISTA Innovation Renovation Park Project (FISTA 1) to create administrative and long-term lease space for DoD contractors and other industrial development tenants. The current project includes Phase 1A and 1B of FISTA 1 and renovates approximately 1/3 of the usable space therein. As a result of the bidding process, it is now apparent that the original project budget ...
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