Res 018-2015 2/17/2015Resolution No. 18-2015
Resolution approving the programs and expenditures of the Wichita
Falls Economic Development Corporation (WFEDC) and amending
the budget to include up to $928,800 for the Eagle Railcar Services
Expansion Project
WHEREAS, Texas Local Gov’t. Code § 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 ”; and,
WHEREAS, on January 23, 2015, the W FEDC approved the Project listed below
and as stated in its agenda.
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, are approved:
a. Eagle Railcar Services Expansion Project – up to $928,800 for
creation of 64 new jobs, training expenses, and a forgivable loan
to purchase a sponge-jet robot blaster, a global finish spray
booth, a 1,500 cfm air compressor, and related equipment at
Company’s facility located at 4501 Allendale Road, Wichita Falls,
Texas. .
2. The current fiscal year budget of the WFEDC is amended to provide for the
aforementioned expenditures and changes thereto.
PASSED AND APPROVED this the 17th day of February, 2015.
______________________________
M A Y O R
ATTEST:
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City Clerk
WFEDC REVISED FY 2015 BUDGET