Res 022-2024 WFEDC Sale of 28 acres at the Business Park 02/20/2024 Resolution No. 22-2024
Resolution approving the programs and expenditures of the Wichita
Falls Economic Development Corporation (WFEDC/4A) by authorizing
the sale of 28+/- acres at the WFEDC-owned Wichita Falls Business
Park to BHD Land Development LLC, and approving an expenditure in
an amount not to exceed $2.8M for the design and construction of the
extension of Production Blvd and related utilities
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 February 15, 2024, 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:
Project Riley:
• The sale of approximately 28 acres in the WFEDC-owned WF Business Park to
BHD Land Development (BHD) for $1 .966M;
• The expenditure of up to $2.8M in WFEDC funds to reimburse BHD for the design
and construction of the extension of Production Blvd from its current terminus to
Fisher Road and related utilities;
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 20th day of February, 2024.
MAYOR
ATTEST:
iVait,L,c, ,
City Clerk