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4A Wichita Falls Economic Development Minutes - 09/18/2025 MINUTES OF THE WICHITA FALLS ECONOMIC DEVELOPMENT CORPORATION SEPTEMBER 18, 2025 PRESENT: Leo Lane, President § WFEDC Members David Toogood, Vice President § Craig Lewis § Reno Gustafson § Mike Battaglino, Councilor, District 4 § Mayor & Councilors Tom Taylor, Councilor, District 5 § Jeff Jenkins, City Manager § City Administration Paul Menzies, Assistant City Manager § Kinley Hegglund, City Attorney § Fabian Medillin, Dir of Development Services § Monica Aguon, Senior Assistant City Attorney § Stephen Calvert, CFO & Finance Director § Chris Horgen, Public Information Officer § Paige Lessor, Exec. Legal Asst./Recording Sec. § Ron Kitchens, CEO § Wichita Falls Chamber of Commerce Vicki Pratt, Partner § Moriah Williams, Partner § ABSENT Brent Hillery, Board Member § WFEDC 1. CALL TO ORDER. Mr. Leo Lane called the meeting to order at 2:30 p.m. 2. CONSENT AGENDA. a. Approval of Minutes (August 14, 2025) Minutes were not ready for approval. The Board proceeded directly to the Financial Report. b. Financial Report Mr. Paul Menzies reported that sales tax revenue had increased for the past two months, trending approximately one percent ahead of the previous year. He explained that the bottom line of the financial statements reflects the Board's funding commitments to the mall redevelopment project. He stated that Finance Director Stephen Calvert was present to answer any questions WFEDC MINUTES 9/18/2025 PAGE 1 OF 3 and concluded that there were no other significant items to highlight at that time. Mr. Lane added that the Board expects to receive future receivables, which will help offset the current financial commitments, reminding members to keep that in mind moving forward. With no further discussion or public comment, Mr. Lewis made a motion to approve the consent agenda. Seconded by Mr. Toogood, the motion carried 4-0. 3. DISCUSSION AND POSSIBLE ACTION TO APPROVE THE CORPORATION'S BUDGET FOR FISCAL YEAR 2025-2026. Mr. Lane noted that all members had received the proposed budget in advance and that it had been reviewed during the previous meeting. Mr. Toogood confirmed that the current version simply consolidated the specific line items previously approved by the Board into the overall budget document. Mr. Menzies stated that the far-right column of the proposed budget reflects all decisions made at the prior meeting, including funding allocations for the Chamber of Commerce, i.d.e.a.WF, and SMAC. He explained that the only remaining item being finalized is the maintenance cost accounting for the Business Park, noting that internal processing of work orders can occasionally lag, but that it would not significantly affect the budget's bottom line. Mr. Lane acknowledged increases in utility costs, citing the rise from $122,000 to $158,000, and commented that staff will continue monitoring and adjusting as needed. He also referenced the $29 million investment related to 3111 Midwestern Parkway, emphasizing its inclusion within the overall financial framework. With no further discussion or public comment, Mr. Toogood made a motion to approve the FY2025-2026 budget as proposed. Seconded by Mr. Lewis, the motion carried 4-0. 4. DISCUSSION AND POSSIBLE ACTION AUTHORIZING THE SALE OF 225+ ACRES AT THE WICHITA FALLS BUSINESS PARK FROM THE WICHITA FALLS ECONOMIC DEVELOPMENT CORPORATION (WFEDC) TO TEXAS DATA CENTER CAMPUS, LLC, AND AUTHORIZING THE WFEDC BOARD CHAIR TO SIGN ALL RELATED DOCUMENTS. Ms. Moriah Williams confirmed that this action pertains to Phase One of the total project, with the developer retaining an option on Phase Two for up to 24 months. She added that the company anticipates being ready to proceed with closing on the second phase within six to eight months, but for now, will move forward only with Phase One. Mr. Ron Kitchens clarified that although only Phase One is being purchased at this time, the engineering and planning were completed for the entire campus as one integrated project. Mr. Lewis inquired about the status of easement issues. Ms. Williams reported that all easement matters were officially cleared the previous week, and that contracts were now finalized among attorneys representing the seller, buyer, and Oncor to ensure all parties' documentation was accurate. Mr. Kitchens confirmed that all involved parties—seller, buyer, and Oncor— had reached an agreement and that this was the final item previously holding up the transaction. WFEDC MINUTES 9/18/2025 PAGE 2 OF 3 With no further discussion or public comment, Mr. Gustafson made a motion to approve the sale of 225+ acres at the Wichita Falls Business Park from the Wichita Falls Economic Development Corporation (WFEDC) to Texas Data Center Campus, LLC, and authorize the WFEDC Board chair to sign all related documents. Seconded by Mr. Lewis, the motion carried 4- 0. 5. DISCUSSION AND POSSIBLE ACTION RELATED TO THE CONTRACTS FOR SIKES SENTER MANAGEMENT AND OPERATIONS WITH FORWARD WICHITA FALLS, AUTHORIZING THE WFEDC BOARD CHAIR TO SIGN ALL RELATED CONTRACTS, AND AN EXPENDITURE OF UP TO $300,000 FOR SAID CONTRACTS. Mr. Lane introduced this agenda item and adjourned into executive session. 6. EXECUTIVE SESSION. Mr. Lane adjourned the meeting into executive session at 2:37 p.m. pursuant to Texas Government Code §§§§ 551.072, 551.087, 551.071, and 551.074. He announced the meeting back into regular session at 3:18 p.m. The subjects posted in the Notice of Meeting were deliberated, and no votes or further actions were taken on the items in executive session. MOTIONS Sikes Senter Management and Operations Mr. Toogood made a motion to authorize Leo Lane to execute any and all management and operational contracts with Forward Wichita Falls for Sikes Senter and approve the expenditure of $300,000 for such contracts. After no further discussion or comments from the public, the motion was seconded by Mr. Gustafson and carried 4-0. 7. ADJOURNED. Mr. Lane asked if the public had any questions or comments. Since there were none, he adjourned the meeting at 3:20 p.m. Leo Lane, President WFEDC MINUTES 9/18/2025 PAGE 3 OF 3