Res 106-2022 WFEDC Budget Amendment Compass Container Works dba Performa 09/06/2022 Resolution No. 106-2022
Resolution approving the programs and expenditures of the Wichita
Falls Economic Development Corporation (WFEDC) and amending
the budget to include an up to $1,500,000 performance incentive to
Compass Container Works, dba Proforma, as part of the company's
potential new location in Wichita Falls
WHEREAS, Texas Local Gov't. Code §501.073(a) provides "The corporation's
authorizing unit will approve all programs and expenditures of a corporation and annually
review any financial statements of the corporation"; and,
WHEREAS, on August 18, 2022, the WFEDC approved the Project listed below
and as stated in its agenda.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
1. The Wichita Falls Economic Development Corporation's approval and funding
of the following programs and expenditures as described below and in said corporation's
agenda, are approved:
Compass Container Works Project:
A total of up to $1,500,000 performance incentive to Compass Container
Works, dba Proforma, as part of the company's potential new location in
Wichita Falls.
2. The current fiscal year budget of the WFEDC is amended to provide for the
aforementioned expenditures and changes thereto.
PASSED AND APPROVED this the 6th day of September, 2022.
MAYOR
ATTEST:
7-2
City Clerk