4A Wichita Falls Economic Development Minutes - 12/11/2014MINUTES OF THE
WICHITA FALLS ECONOMIC DEVELOPMENT CORPORATION
December 11, 2014
PRESENT:
Dick Bundy, President
Reno Gustafson
Leo Lane
Darron Leiker
Glenn Barham, Mayor
Jinn Dockery, Asst. City Manager /CFO
Kevin Hugman, Assistant City Manager
R. Kinley Hegglund, Jr., City Attorney
Linda Merrill, Recording Secretary
Henry Florsheim
Kevin Pearson
Barry Hardin, Plant Manager
ABSENT:
Dave Lilley
1. CALL TO ORDER
Members
§ Mayor
§ City Staff
§ Chamber of Commerce and Industry
§ Sealed Air Corporation
§ Member
Dick Bundy called the meeting to order at 4:32 p.m.
2. APPROVAL OF MINUTES (DECEMBER 2, 2014)
Darron Leiker moved for approval. Seconded by Reno Gustafson, the motion carried.
3. DISCUSSION OF THE WATER REUSE PROJECT FOR CRYOVAC IOWA PARK
Kevin Pearson stated that he had provided Barry Hardin with the formula used for the WFEDC's
typical cash -for -jobs performance agreements. Such agreements require that a certain number of
jobs be retained in exchange for the WFEDC investing money in the project. Mr. Pearson
suggested 300 to 400 employees of the 800 Cryovac employees as the number to be used in the
performance agreement. Mr. Hardin preferred to use only 50 employees in the agreement, and
wanted to explain his reasoning to the Board.
Mr. Hardin said the desire to use 50 employees is not based on a belief that Cryovac would
reduce its employment down to that level. Iowa Park attached 50 jobs to this project initially, and
that is the number that has already been submitted to corporate offices. If he had to change that
figure to 300, more corporate officials would have to get involved and it might be concerning to
4. EXECUTIVE SESSION
Mr. Bundy adjourned the meeting into executive session at 4:43 p.m. pursuant to TEXAS
GOVERNMENT CODE §§551.071 and 551.087. He closed the executive session and announced the
meeting back into regular session at 5:19 p.m.
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Leo Lane moved that th—eWFE-KC allocate up to $30010410 in the cash for jobs program for
the water reuse project for Cryovac Iowa Park, and to authorize President Dick Bundy to
work out the details of the agreement on the WFEDC's behalf. Seconded by Darron Leiker,
the motion carried.
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