City of Lawton approved a $40 million loan to cover some 2019 CIP projects

LAWTON, Okla. (KSWO) – A 10-year, $40 million sales tax loan was approved by the Lawton City Council to temporarily offset the costs of some 2019 CIP projects that have not yet been completed.

Council members stated that the state of the economy during COVID did not generate enough funds through the CIP to move forward with some of the items.

According to Ward 2 Councilman Kelly Harris, the city must have a certain percentage of funds before they can go to the bond office to begin work.

Officials stated that the money generated under the current CIP program will repay the loan, adding that they cannot wait until mid-2030 to start these projects.

The 40 million will be distributed among the following projects:

Lee Boulevard Resurfacing: $4 million
Water and sewer line replacement: $3 million
Cache Road Waterline Replacement: $1.4 million
Lakes Gate Operation (This is an engineered hydraulic analysis that will be submitted to the OWRB for review. We must do this from time to time to ensure dam safety and minimize downstream flooding. Basically a study and report on the gate operating policy and structural analysis of dam gate structure at Lake Ellsworth and Lake Lawtonka.): $355k
LATS Transportation Improvements: $2.5 million
US-62 Interchange (at Goodyear Boulevard): $5.5 million
Elmer Thomas Park Aquatic Center: $19,495,000
I-44 Pedestrian Bridge: $50,000
Youth Sports Facility: $700,000
Lake improvements: $3 million