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Trust establishes $1.5M capital reserve from previously set-aside funds for First Americans Museum maintenance
Summary
The Trust approved establishing a capital reserve fund of up to $1.5 million from previously set-aside amounts to cover capital improvements at the First Americans Museum, including chiller replacement and water intrusion repairs; staff said roughly $500,000 of the original $2 million set-aside remains unallocated.
The Oklahoma City Economic Development Trust on July 29 approved an agreement to establish a capital reserve fund for the First Americans Museum (FAM) not to exceed $1,500,000. Kenny Sutil explained the action draws from $2,000,000 previously set aside by the Trust for future operations or capital needs; the current allocation would place $1.5 million into a capital fund per a plan…
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