Ord 088-2004 11/2/2004ORDINANCE NO. ,eJy
ORDINANCE OF THE CITY COUNCIL OF THE CITY OF WICHITA FALLS,
TEXAS, MAKING AN APPROPRIATION FROM THE TAX INCREMENT
FINANCING (TIF) FUND IN THE AMOUNT NOT TO EXCEED $40,000.00
FOR IMPROVEMENTS AT 904 BROAD STREET; FINDING AND
DETERMINING THAT THE MEETING AT WHICH THIS ORDINANCE WAS
PASSED WAS OPEN TO THE PUBLIC AS REQUIRED BY LAW.
WHEREAS, the City Council of the City of Wichita Falls find there is a need to
support economic development in the City and adopted Tax Increment Financing Zone #1 in
1986, and,
WHEREAS, the proposed project is consistent with the Project Plan for the
Reinvestment Zone #1; and,
WHEREAS, the Tax Increment Financing Board of Directors voted at a meeting held
on October 6. 2004 to recommend funding to the Proposed plan to the City Council.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
WICHITA FALLS, TEXAS, THAT;
SECTI 1 . The preamble stated above is made part of this ordinance.
SECTION 2. TIF funds in an amount not to exceed $40,000.00 are to be
appropriated to the construction, development and implementation of the Pumpjack Diner to
be located at 904 Broad Street.
SECTIO 3. The City Manager is authorized to execute a contract with the Historic
Diners of Texas, No 1, Ltd. to provide these funds.
SECT ION 4. It is hereby officially found and determined that the meeting at which
this ordinance was passed was open to the public as required by law.
PASSED AND APPROVED this the 2nd day of November, 2004.
ATTEST: MAYOR
u l City Clerk