Boathouse Foundation receives $750,000 under restructuring agreement

The Boathouse Foundation has received the second installment of a $2 million cash infusion from the city of Oklahoma City.

The foundation has a contract with the city to operate the $46.2 million MAPS 3 whitewater rafting and kayaking park on the Oklahoma River.

Under terms of an agreement with the foundation, the city paid $750,000 after the foundation restructured its board and developed a strategic plan.

The city council approved the deal in July, to reimburse the foundation for startup costs at the city-owned park. 

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The first of three payments was for nearly $760,000, drawn from MAPS 3 sales tax proceeds.

Money for the latest payment and another $490,400, due after the foundation hires a chief operating officer, is from the general fund.

The MAPS 3 whitewater rafting and kayaking park has been open for three seasons. The Boathouse Foundation is the city's operating partner.

The city council is expected to vote Tuesday on spending $7.9 million in MAPS 3 sales tax revenue for park improvements.

The council deferred action on the proposal at its Oct. 9 meeting.

Projects include:

• Finishing the 8,000-square-foot second floor of the whitewater park's main building for an executive leadership institute and new Olympic sports tenant.

• Installing a high-capacity zip line, a revenue booster compared to the current ride. The zip line tends to back up, causing long waits.

• Electrical upgrades to save $100,000 in power bills for the park's pumps. In addition, a new filtration system would capture dust particles that cloud the water in the recreational and competition channels.