4A Wichita Falls Economic Development Minutes - 04/29/2026 w
MINUTES OF THE
WICHITA FALLS ECONOMIC DEVELOPMENT CORPORATION
APRIL 29, 2026
PRESENT:
Leo Lane, President § WFEDC Members
David Toogood, Vice President §
Brent Hillery §
Craig Lewis §
Tim Short, Mayor § Mayor & Councilors
Austin Cobb, Councilor-At-Large §
Tom Taylor, District 5 Councilor §
Jeff Jenkins, City Manager § City Administration
James McKechnie, Deputy City Manager §
Paul Menzies, Assistant City Manager §
Blake Jurecek, Assistant City Manager §
Kinley Hegglund, City Attorney §
Nick Welden, Airport Operations Manager §
Madeline Eubanks, Grants Coordinator §
Chris Horgen, PIO
Paige Lessor, Deputy City Clerk/Recording Sec §
Moriah Williams, CEO § Forward Wichita Falls
Vicki Pratt, Partner §
Kirk Peterson, Partner §
Lauren Williams, Director-Urban Dev. §
Loftin Davoult §
Martin Bohn, CEO § Aerospace N3xt, LLC
Lynn Walker, Writer § Times Record News
ABSENT:
Reno Gustafson, 4A Member §
1. Call to Order.
Mr. Leo Lane called the meeting to order at 2:30 p.m.
2. Consent Agenda.
a. Approval of Minutes (March 26, 2026)
Mr. Lane opened the floor for comments or corrections on the minutes from the March 26,
2026, meeting. No comments or corrections were made. Mr. Lane then moved to the Financial
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Report.
b. Financial Report
Mr. Paul Menzies reported that the Corporation's financial position remained strong, with
fund balances above $20 million. He also noted that April sales tax revenues were approximately
20% higher than the same period last year. Mr. Menzies stated that preliminary research indicated
much of the increase was attributable to Amazon operations coming online, with sales tax
revenues now being sourced and captured locally. Board members commented positively on the
increase and noted it further validated the Amazon project. Mr. Menzies also noted that the mall
financial reports were included in the board packet. He advised that Stephen Calvert, who
prepared the reports, was unable to attend the meeting due to personal reasons, but staff would
address any questions from the Board as needed. No additional corrections, additions, or
concerns were raised regarding the financial reports.
Mr. Brent Hillery made a motion to approve the consent agenda as presented. Seconded
by Mr. Craig Lewis, and with no further discussion or public comment, the motion carried 4-0.
3. Discussion and possible action related to the proposed incentive package for
Aerospace N3xt.
Ms. Moriah Williams introduced the proposed project, noting that it had been in
development for an extended period and had taken significant shape following the formation of
Forward Wichita Falls and the hiring of Kirk Peterson. Ms. Williams stated that the project
represented Mr. Peterson's first major initiative with Forward Wichita Falls and expressed
appreciation for his work.
Mr. Kirk Peterson presented a request related to the expansion of Aerospace Next/Cobra
Kai Flight Academy at Kickapoo Airport, owned and operated by Martin Bohn. Mr. Peterson
explained that Mr. Bohn, a former military and ENJJPT pilot and former instructor pilot of the year,
has operated the flight school since 2012 and provides flight training services at the airport.
Working in coordination with Forward Wichita Falls, the 80th Flying Training Wing, and Air
Education and Training Command (AETC), the project secured an Education Service Agreement
to provide the initial 30 hours of flight training for U.S. Air Force students prior to entering the
ENJJPT program at Sheppard Air Force Base.
Mr. Peterson stated that, historically, students attended commercial flight schools in
locations such as Pueblo, Colorado; Denton, Texas; Prescott, Arizona; and Daytona Beach,
Florida. He noted that the agreement allows students to complete this training in Wichita Falls
instead. He further explained that Mr. Bohn plans to invest approximately $15 million to expand
the flight school facilities and operations at Kickapoo Airport.
Mr. Peterson recommended approval of a $300,000 incentive package to be paid over two
years and forgiven over five years. The funds would assist with expanding classroom and
operational space necessary to accommodate additional students. In return, the project is
expected to create ten new jobs with salaries averaging approximately $65,000 annually. Mr.
Peterson also expressed optimism that the quality of training provided could attract future
participation from NATO students associated with the ENJJPT program. Mr. Lane commented
that the projected payroll associated with the new positions appeared to provide a very quick
return on investment for the community.
Mr. David Toogood requested clarification regarding the relationship between Aerospace
Next and Cobra Kai Flight Academy. Martin Bohn explained that Aerospace Next operates under
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several "doing business as" names, including Cobra Kai Flight Academy, Cobra Kai Flight
Services, and Cobra Kai Air, with the Cobra Kai name serving as the more publicly recognizable
brand. He further stated that each entity operates under its own FAA certification.
Mr. Toogood also inquired about a previous incentive agreement awarded to the company
by the Economic Development Corporation in 2015 for a flight simulator project. Mr. Bohn
confirmed that the prior agreement was structured as a forgivable loan with performance
requirements over a five-year period. He stated that all required performance measures were
successfully met, resulting in the loan being forgiven. Mr. Bohn added that the simulator project
had since helped train approximately 970 airline transport pilots, along with private and instrument
pilots, and had generated a significant economic impact.
Mr. Lane called for any additional questions or comments from the Board or the public.
There being none, the discussion concluded.
4. Executive Session.
Mr. Lane adjourned the meeting into executive session at 2:40 p.m. pursuant to Texas
Government Code §§§ 551.072, 551.087, and 551.071.
Mr. Lane exited the meeting at 3:20 p.m.
Mr. Toogood announced the meeting back into regular session at 3:39 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
Aerospace N3xt DBA Cobra Kai Flight Academy, LLC
Mr. Hillery made a motion that the Board authorize a forgivable loan to Aerospace N3xt
DBA Cobra Kai Flight Academy, LLC, in the total amount of $300,000, paid out to the company
over two years, with proof of investment and execution of a contract with USAF, and forgiven over
five years, contingent on retaining all current employees and hiring 10 new full-time employees.
Seconded by Mr. Lewis and with no further comments, the motion carried 3-0.
8. Adjourned.
Mr. Toogood asked if there were any questions or comments. Since there were none, he
adjourned the meeting at 3:40 p.m.
Leo Lane, President
WF Economic Development Corporation
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