4A Wichita Falls Economic Development Minutes - 03/18/2015MINUTES OF THE
WICHITA FALLS ECONOMIC DEVELOPMENT CORPORATION
PRESENT:
Dick Bundy, President
Reno Gustafson
Leo Lane
Dave Lilley
Glenn Barham, Mayor
Tim Ingle, City Councilor, District 4
Jim Dockery, Asst. City Manager /CFO
R. Kinley Hegglund, Jr., City Attorney
Linda Merrill, Recording Secretary
Henry Florsheim
Michael Paris
Kevin Pearson
ABSENT:
Darron Leiker
1. CALL To ORDER
March 18, 2015
Members
§ Mayor
§ City Staff
§ Chamber of Commerce and Industry
Dick Bundy called the meeting to order at 4:00 p.m.
2. APPROVAL OF MINUTES (FEBRUARY 23, 2015)
Leo Lane moved for approval. Seconded by Dave Lilley, the motion carried.
Financial Report by Jim Dockery
The sales tax revenues at the fourth month of the year are on target; they are running
approximately 1 /a% below last year. There was a good upward tick in December sales.
The City has yet to be reimbursed by Atco for the $29,000 ad valorem tax payment that it
makes on the Atco's behalf. Kevin Pearson said he would contact the company.
Expenditures include professional fees for title work and some legal fees from attorney
Hank Rugeley. The Chamber of Commerce contract is on target for $400,000. The Regional
Marketing Task Force is halfway through its expenditures, as are SMAC and Downtown Wichita
Falls Development.
The business plan, contest expenses will not be incurred until the end of April.
Business Park maintenance and regional airport facilities fees will be expensed out at the
end of the fiscal year.
A total of $29,000 has been spent with Pride in the Palls thus far. Ann Arnold has been
hired as the new Marketing Director and she is presently doing fact- finding.
No bills have come in for the strategic planning session the WFEDC held as of yet.
Henry Florsheim said Brent Henley's bill will be $1,000 plus expenses, and Carlton Henley's
charges will be less than that. The Board had budgeted $20,000, in Lhe event they want to do
more sessions.
Mr. Dockery said a payment of $118,750 was made to Arrow Manufacturing, as 25 out of
35 jobs have been verified for six months.
The Board has $11.5 million unencumbered funds available for upcoming projects.
Dick Bundy asked if the signs being erected all over the city are a project of Pride in the
Falls. Mr. Dockery said over $1 million was spent on that project out of City and 4B funds.
I EXECUTIVE SESSION
Mr. Bundy adjourned the meeting into executive session at 4:11 p.m. pursuant to TEXAS
GOVERNMENT CODE §551.087. He closed the executive session and announced the meeting back
into regular session at 5:18 p.m. He declared that the subjects described in the certified agenda
were deliberated and no further action was taken.
4. ADJOURN
Mr. Lilley moved that the meeting be adjourned. The meeting was adjourned at
5.18 p. -m.
17&,"
Dick Bundy, President
2