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Trust approves MAPS Investment Trust distribution to Innovation District; staff say payment is annual
Summary
The trust approved an annual disbursement from the MAPS Investment Trust to the Oklahoma City Innovation District; staff said the payment is calculated from investment earnings and will be available July 1.
The Oklahoma City Economic Development Trust on May 20 approved the annual disbursement of MAPS Investment Trust operating funds to the Oklahoma City Innovation District.
Staff explained the disbursement is an annual distribution calculated from investment earnings in the MAPS Investment Trust and that funding will be available to the Innovation District on July 1. Finance staff said they would review the underlying agreement language and confirm schedule wording.
Trustees approved the item by voice vote; staff noted the distribution has flexibility tied to portfolio performance and that city approval controls final allocations each year.
