Res 149-2023 Performance Agreement with Westlake Chemical 12/05/2023 Resolution No. 149-2023
Resolution approving the programs and expenditures of the Wichita
Falls Economic Development Corporation (WFEDC/4A) by amending
the budget to include an expenditure up to $1,175,000 to support a
performance agreement with Westlake Chemical related to the
proposed expansion of their current facility 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 November 16, 2023, 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:
Westlake Chemical Project:
• Up to $1 ,175,000 to support a performance agreement with
Westlake Chemical related to the proposed expansion of their
current facility 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 5th day of December, 2023.
MAYOR
ATTEST:
a, il rCity Clerk