Res 048-2011 6/7/2011 RESOLUTION N0. 48-2011
Resolution Approving The Programs And Expenditures Of The
Wichita Falls Economic Development Corporation (WFEDC) And
Amending The Budget As Appropriate In The Amount Of $211,815
For The Wichita Falls Travel Center Project
WHEREAS, on or prior to this date, the Wichita Falls Economic Development
Corporation (WFEDC) approved the Wichita Falls Transit Travel Center Project
listed below as stated in its agenda;
WHEREAS, the City Council finds that the Wichita Falls Transit Travel Center
Project benefits property acquired by the City and the WFEDC for other projects and
adopts the Findings attached hereto; and
WHEREAS, TExas Loca� Gov'T Co�E §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."
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, is approved:
Wichita Falls Transit Travel Center Project — Proposed expenditure for required local
funds for the Wichita Falls Transit Travel Center Project in the amount of $211,815 of "costs"
for expenditures for said center, to be located at 306 Scott Street, including making the attached
Findings relating to said project and amending the 4A budget to account for the allocation of
said funds.
2. The current fiscal year budget of the WFEDC is amended to provide for the
aforementioned expenditure and changes thereto.
PASSED AND APPROVED this the 7 day of June, 2011.
MAYOR
. ATTEST:
�
i Clerk
Findings
The proposed Project is found to be in full compliance with the Bylaws and Articles of Incorporation of the Wichita
Falls Economic Development Corporadon, the Texas Development Corporation Act of 1979, and Chapters 501
through 504 of the Te�s Local Government Code and is land, buildings, equipment, facilities, expenditures,
targeted infrastructure, and improvements (or "costs" thereofl that:
(1) are for the creation or retention of primary jobs and are required or suitable for the development,
retention, or e�ansion of:
(A) manufacturing and industrial facilities;
(B) research and development facilities;
(C) military facilities, including closed or realigned military bases;
(D) transportation facilities, including airports, ports, mass commuting facilities, and parking
facilities;
(E) sewage or solid waste disposal facilities;
(F) recycling facilities;
(G) air or water pollution control facilities;
(I� facilities for furnishing water to the public;
(I) distribution centers;
(� small warehouse facilities capable of serving as decentralized storage and distribution centers;
(K) primary job training facilities for use by institutions of higher education; or
(L) regional or national corporate headquarters facilities.
or
(2) are job training required or suitable for the promotion of development and e�ansion of business
enterprises and other enterprises described by this subtitle, as provided by Texas Local Gov't Code §
501.162
or
(3) are promotional e�cpenditures that advertise and publicize the City of Wichita Falls for the purpose of
developing new and expanded business enterprises
To the extent the Project constitutes a project whose primary purpose is to provide a transportation facility, said
facility is hereby detemuned to benefit property acquired for a project that has another primary purpose. For
purposes of this paragraph, "property acquired for a project that has another primary purpose" shall include:
(1) all property acquired by the Wichita Falls Economic Development Corporation (WFEDC), including,
but not limited tq the ATCO building and business park, for WFEDC projects,
(2) all of WFEDC's currently e�sting security interests (such as deed of trust interests in private properiy
and security interests in equipment) acquired to secure debt for all previous projects of the WFEDC that
provided assistance resulting in the enhancement of privately owned real property or the acquisition of
privately owned real property or equipment, and
(3) all property acquired by private owners and the federal government (including, but not limited to,
Sheppard Air Force Base) related to projects assisted by the WFEDC.