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4B Sales Tax Corporation Minutes - 09/03/2026 MINUTES OF THE W ICHITA FALLS 4B SALES TAX CORPORATION (WF4BSTC) SEPTEMBER 3, 2026 PRESENT: Glenn Barham, President § WF4BSTC Members Nick Schreiber, Secretary-Treasurer § Darrell Coleman § Stephen Santellana § Steve Garner § Craig Reynolds (arrived 3:04) § Corey Edmondson § Tim Short, Mayor § Mayor & City Councilors Tom Taylor, Councilor, District 5 § Mike Battaglino, Councilor, District 4 Paul Menzies, Assistant City Manager § City Staff Kinley Hegglund, City Attorney § Stephen Calvert, CFO & Finance Director § Chris Horgan, Public Information Officer § Kevin Scanlan, Exec. L. Asst./Rec Secretary § Members of the Public Moriah Williams § Forward Wichita Falls Lauren Williams § Forward Wichita Falls Lauren Davoult § Forward Wichita Falls Isha Howerton § Forward Wichita Falls Scott Poenitzsch § § Tyshin Dawson § KFDX Lynn Walker § Times Record News Prior to the meeting, Cory Edmondson was administered the Oath of Office. 1. Call to Order. Mr. Glenn Barham called the meeting to order at 3:00 p.m., noting that a quorum was present. WF4BSTC Minutes Page 1 of 5 9/3/2026 2. Election of Officers (Agenda Item 3) Mr. Barham reordered items 2 and 3 on the agenda so that the election of officers could be handled first. He then opened the floor for nominations of the position of chairman/president and vice chairman/vice president. A motion was made for the nomination of Glen Barham as chairman/president. No further nominations were made and after a request for comments from the Board and from the public, the motion carried unanimously (6-0) Mr. Barham then asked for nominations for vice president/vice chairman. No nominations were received and Mr. Barham asked for volunteers. Mr. Santellana volunteered to serve as vice president/vice chairman. There were no other nominations or volunteers. Mr. Barham asked for comments from the Board and then from the public. There were none and the Board voted unanimously to approve Stephen Santellana as vice president/vice chairman (6-0). 3. Report of Financial Condition (Agenda Item 2) Mr. Paul Menzies reviewed the financial report and stated that sales tax was continuing to trend well above last year and that revenue is double digits ahead of the previous year. Mr. Menzies tempered the bottom-line number, with the caution that the $1.4 million debt service will hit the financials next month as would be discussed in detail during the budget presentation. The bottom-line number is approximately $8 million free and clear for new projects and that number already accounts for the 20% commitment to the city's emergency siren overhaul. Mr. Barham asked for comments from the Board and from the public. There were none. Stephen Santellana moved to accept the financials as presented, seconded by Mr. Schreiber. The motion passed unanimously, 6-0. Mr. Reynolds entered the meeting. 4. Consent Agenda: a) Approval of Minutes of July 2, 2026. b) Approval of the Minutes of August 6, 2026 Mr. Barham moved on to the consent agenda consisting of the approval of the minutes of the July 2, 2026, and August 6, 2026 meetings. There was no comment on the consent agenda from the Board or from the public. Mr. Coleman moved to adopt the minutes as presented. Mr. Garner seconded the motion. Mr. Barham asked for further comment from the Board and from the public, there being none; the motion carried 7-0. 5. Public hearing regarding a funding request from Forward Wichita Falls related to downtown economic development services, retail attraction, and Sheppard AFB advocacy. Requested amount: $375,000. Mr. Barham opened the public hearing at 3:05 p.m. Moriah Williams presented the Forward Wichita Falls funding request. She started by noting the importance of quality of life infrastructure. She then detailed some of the previous projects that were directly funded by the Board. The next year will continue with a focus on the downtown area, recognizing the value of a vibrant downtown that acts as a driver of economic WF4BSTC Minutes Page 2 of 5 9/3/2026 activity and encourages private investment. The goal is to develop the downtown area into an inviting place not just for today but one that will be competitive in the future. She then recapped the previous year's budget and how the money from the Board was spent. She noted that the figures in the presentation are difficult to align because there is also funding received from the 4A Board. She noted that not all of the money received in the last year was spent and that between $400,000 and $425,000 would be returned to the 4A and 4B Boards. 4B would receive approximately $140,000 back when Forward Wichita Falls' year ended and the books were closed. She continued that most of the monies assigned to retail development for last year went to the mall project. She then presented the schedule for upcoming events in the mall development schedule. Further, with the mall project still ongoing and the need to recruit and assist other retail providers, the retail development function would continue into the new year. These monies are needed to continue to develop local retail options and not have local residents traveling to DFW or Oklahoma City to do their shopping. She then presented the members of her team and described their areas of expertise. She then provided an update on the University Town Center project. Mr. Barham reiterated that Forward Wichita Falls would be very specific with the prospective developers about an aggressive timeline for the development and that part of the developer negotiations and selection criteria would involve how quickly the project could be completed. Ms. Williams updated the status of MSU's involvement and their timeline. She stated that MSU is working on basic stadium plans to determine what it might look like and to determine the land needs and the best location for the stadium. The housing element would be negotiated with the developer, but that it would be coordinated with MSU to make sure it was practical for their needs. Further, because of the local shortage in rental properties, she stated she did not see any option for the housing component to be 100% student housing. Regarding the downtown area she discussed the strategic studies that have been started and the property owners' forums that were held to get input from downtown property owners. She detailed other community projects that they have studied and how those communities' projects encouraged further development and private investment. Ms. Williams described the elements of the budget noting the three main categories: the D.C. consultants, retail support and development, and redevelopment of the urban core. Ms. Williams responded to questions and noted that projections for the next year would be similar to the last year. There would be some additional touch points, but the overall framework would remain the same. Further, she identified a few areas likely to provide the most impact of redevelopment dollars. The area of Park Central and on Ohio Avenue near Half Pint, has substantial after hours foot traffic and that increasing after hours foot traffic was critical. A foot traffic increase was needed and could be achieved by getting more people to come to the downtown area or by getting people that are already downtown to stay longer and participate in more activities while there. Ms. Williams provided further detail on the allocation of the funds, with $75,000 going to the D.C. consultants, $75,000 being budgeted for retail development and support, and the remaining $225,000 being earmarked for the urban core. Mr. Edmondson asked if there had been a master facility plan done for the downtown area. Ms. Williams stated that there had been a study done approximately 10 years prior, but that it covered a smaller area that what is now being considered as the urban core. There have been some more recent studies done looking at foot traffic and trends, but that they have not yet been tied to the real estate aspect. WF4SSTC Minutes Page 3 of 5 9/3/2026 Ms. Williams then began the second presentation focused on the urban core. She provided basic economic statistics for our region and stated some benefits our downtown has, such as an excellent TIFF. She described how successful projects developed from an initial gathering space that could then be built upon. They have identified sites that could possibly be used as a starting point, but they have not approached the owners or gone beyond identifying properties that would be possible starting points. These sites include: Indiana and Ohio, Lasalle and 7th, Indiana at 9th& 10th, and others. She provided more detail on the other similar projects across Texas and in other states. She provided details about the locations, the amenities and funding structure of the projects set forth in the presentation. She also detailed how certain aspects of the successful developments were common to the projects. These included starting with a public gathering space that can be expanded as the first step. She noted that fully private funding was the exception, and that the developments were run by a non-profit or by a foundation, and not by the city itself. She stressed that the goal is to get private funding to work in the downtown for these types of projects. She also noted that it could not be rushed as it requires a great deal of dedicated research and planning to make sure that the project will work. Ms. Williams took questions from the public. She stated that the presentations were new but that she would make them available and that much of the information was available on the website. She then summarized the budget request and its division into the three categories previously discussed. She stated that with the return of approximately $140,000 to the Board the total of prior funding for these same areas was $60,000. She continued that the presentation given set forth the strategic plan, but that it did not have specific dates for action items. She then detailed the downtown property owners' forums and their attendance. Finally, she described the larger area now targeted as the urban core area Mr. Barham asked for any final questions or comments. With no further questions or comments, Mr. Barham declared the public hearing closed at 3:50 p.m. 6. Executive Session. Mr. Barham adjourned the meeting into executive session at 3:50 p,m. pursuant to Texas Government Code sections 551.087 and 551.071. He announced the meeting back into regular session at 4:23 p.m. The subjects posted in the Notice of Meeting were deliberated, and no votes or further action were taken on these items in executive session. 7. Motions Mr. Santellana moved to fund the request from Forward Wichita Falls related to downtown economic development services, retail attraction, and Sheppard AFB advocacy in the requested amount of$375,000. The motion was seconded by Mr. Coleman. Mr. Barham asked for discussion or public comment and there being none, the motion carried unanimously (7-0). 8. Discussion and possible action to approve the Corporation's fiscal year 2027 budget. Mr. Menzies presented the budget. He started by noting that at month's end there would be roughly $8 million available and that would be the amount with which they would start the new fiscal year on October 1st. He cautioned that all of the annual costs of upcoming projects and programs would be encumbered on October 1, 2026, and that would reduce the $8 million to WF4BSTC Minutes Page 4 of 5 9/3/2026 about $4.5 million, but that does not include the approximately $6 million in revenue from both interest and sales tax which is booked as it is received during the course of the year. Debt service is currently about $2.3 million with about $500,000 rolling off after this year. The Board has already approved the debt service of$1.4 million for the police department facility, the falls renovation and the completion of the Wichita Trail as well as some fire department facility improvements. The net result of the new debt and next year's roll off is an increase of$900,000. Mr. Menzies further noted that another $500,000 would roll off in about 2 more years. Mr. Menzies discussed the specific projects and the funds allocated for them including the downtown improvement grant program and the CVB incentive fund. In summary, Mr. Menzies stated that on October 1, 2026 there would be $4.5 million for new projects, understanding that this is before the expected $6.5 million in revenue that is received throughout the year. Also, these numbers do not address the $375,000 just approved today for Forward Wichita Falls or the expected return of$140,000 from Forward Wichita Falls for last year's unspent funding. Mr. Edmondson asked about a master cash flow spreadsheet that shows all projects and when the debt service rolls off. Mr. Menzies noted that the bonds have multiple sources of payment, not just 4B, but that a list could be put together that shows the projects and the related debt and how 4B fits into those figures. Mr. Coleman made a motion to approve the budget as presented. The motion was seconded by Stephen Santellana, and after a call for comments from the Board or the public, the motion carried unanimously. 9. Adjourn. No further discussion took place, no further public comments were offered and no further actions were taken. Mr. Barham adjourned the meeting at 4:36 p.m. (14nr„ 4AQ"r----? Glenn Barham, President Wichita Falls 4B Sales Tax Corporation WF4BSTC Minutes Page 5 of 5 9/3/2026