Trust approves annual subsidies and pass-throughs for Myriad, Scissorell Park, First Americans Museum, Clare Looper and Innovation Hall

The Oklahoma City Economic Development Trust on June 16 approved a series of FY27 support items for cultural and civic venues and approved pass-through disbursements from MAPS operating trust funds.

The Trust passed a joint resolution establishing the Myriad Gardens Foundation FY27 annual management fee and facility maintenance support totaling $2,671,640. Staff said the FY27 subsidy represents a 4.8% increase from the prior year, raising the Trust subsidy share to 39% of Myriad’s budget (up from 36.6%), and attributed the change mainly to healthcare and a 3% salary increase.

Trustees approved a joint resolution for Scissorell Park Foundation FY27 management fee and capital fund support of $5,34,346; staff noted a small decrease in the Trust’s percentage share of the park’s budget (from 61.9% to 60.8%).

The Trust also approved an FY27 operations fee of $4,000,000 for the First Americans Museum Foundation; staff said this amount is unchanged from the prior year and represents 41% of the museum’s total budget.

Separately, trustees approved pass-through disbursements calculated by the MAPS operating trust: about $450,852 to Freedom Center of OKC LLC for operations at the Clare Looper Civil Rights Center, and about $381,67.97 to Oklahoma City Innovation District Inc. for operations at Innovation Hall. Staff said these are determined by the MAPS operating trust investment-policy formula.

All items were moved, seconded and approved by the trustees during the meeting.