Consider adopting a resolution of the City of Lawton approving a term sheet, including any floor amendments that may be made to said resolution and term sheet, to amend the redevelopment agreement by and among the City of Lawton, the Lawton Economic Development Authority, the Comanche County Industrial Development Authority, and Westwin Elements, Inc. for the development of a pilot facility and refinery for the refinement of cobalt, nickel, and other critical elements in the west side industrial park “Redevelopment”, authorizing and directing the Center for Economic Development Law to prepare the amended redevelopment agreement, amended escrow agreement, amended covenant agreement, and all supporting documents and security instruments as are necessary and appropriate to implement and carry out the terms of the amended redevelopment agreement, amending Resolution No. 23-18 to authorize and direct the funding of the $10 million in assistance in development financing be made from the capital improvement project fund as authorized by a citywide vote of the citizens of Lawton on February 11, 2020 and as set forth in Resolution No. 23-75 Item B.6. (also known as a 2019 Propel Capital Improvement Project); directing and authorizing the transfer and release of the $10 million assistance in development financing to the Lawton Economic Development Authority, in its capacity to implement the Skills, Training, Education, Development and Investment (STEDI) Project Plan, and make distributions in support of the pilot facility and redevelopment agreement in accordance with the terms of the amended redevelopment agreement and supporting documents.

New Business Agenda Ready Introduced August 11, 2023

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