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Res 078-2021 Authorizing 380 Economic Development Agreement with OH-Wichita Falls, LLC 07/20/2021 Resolution No. 78-2021 Resolution authorizing the City Manager to execute the Chapter 380 Economic Development Agreement with OH-Wichita Falls, LLC, for the development, construction and operation of a full-service convention center hotel and a future hotel; and authorizing appropriation of$1,879,178.00 WHEREAS, the City of Wichita Falls desires that OH-Wichita Falls, LLC, undertake the development of property at the site of the Multi-Purpose Events Center for a full- service convention center hotel and a future hotel; and, WHEREAS, the City Council has determined that such development is in the best interests of the City, and that a Chapter 380 Economic Development Agreement to provide economic development incentives to OH-Wichita Falls, LLC should be hereby approved. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WICHITA FALLS, TEXAS, THAT: Said Chapter 380 Economic Development Agreement with OH-Wichita Falls, LLC for economic incentives for the development, construction and operation of a full-service convention center hotel and a future hotel is hereby approved, and the City Manager is authorized to execute said 380 Agreement on behalf of the City of Wichita Falls, with such changes as approved by the City Attorney. Further, the City agrees to appropriate $1,879,178.00 in its budget. PASSED AND APPROVED this the 20th day of July, 2021. MAYOR ATTEST: dakw;& City Clerk PAGE 1 OF 2 PAGES AGENDA ITEM NO. 8.E. iLI U V Exhibit Hall " i 1 Kay Yaeger o /' = I I ti - THIRD STREET _ "•1-'1\v. '\--- , � f� # FTCILI)Sy CITY -Old To`nBr FeUPTH @TFEET ' ' . 7 c�s L TJ * I El i r © i LI I 1 I �_ ..'City Fadrities:Y.2 apes = I ] J I 1 1 I t 1 t 1 II 1 I` i ...I1 ._,..__I ..—,..I it I _ II 200 Ndei Site.4.21 acres — LSD I Hotel — 1TELE.21 r guestraoms ! Hotel I 1 I m 22C.perkirg spaces i II I I' re Future Hotel Site:2.5T acres i . I , FUTURE HOTEL SITE i `- -- - yeo1ro n e 114g i ilawszsx�.s l I s ce 115 parking spas I .oaoq _ �I I �Y,�l'.It�. ff I--- ---,--.----- 7L-1�------ --------� -------- ------- Delta Hotel — — _by Raga (� FIFTH sra EEr II }I r }I I( (�'I I YNdwta Falls,Texas 9.24.19 PAGE 2 OF 2 PAGES AGENDA ITEM NO. 8.E.