Res 006-2024 Amend WFEDC Budget for Covercraft Industries $285,000 01/16/2024 Resolution No. 06-2024
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 $285,000 to support a
performance agreement with Covercraft Industries related to the
proposed expansion of their current operations 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 December 21, 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:
Covercraft Industries Project:
• Up to $285,000 to support a performance agreement with
Covercraft Industries related to the proposed expansion of their
current operations 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 16th day of January, 2024.
MAYOR
ATTEST:
City Clerk