Ord 070-2004 9/7/2004ORDINANCE NO. 4
ORDINANCE MAKING AN APPROPRIATION FOR THE HOLT HOTEL
PROJECT FROM ECONOMIC DEVELOPMENT INITIATIVE FUNDS IN
THE AMOUNT OF $198,820 ,AND AUTHORIZING THE CITY MANAGER
TO EXECUTE GRANT AGREEMENTS FOR THE USE OF THESE
FUNDS; FINDING AND DETERMINING THAT THE MEETING AT WHICH
THIS ORDINANCE WAS PASSED WAS OPEN TO THE PUBLIC AS
REQUIRED BY LAW.
WHEREAS, the City of Wichita Falls is in support of the renovation of the former
Holt Hotel; and
WHEREAS, special funding has been secured from the federal government for
the support of this project, and
WHEREAS, this project will provide an improvement to the downtown area,
encourage additional investment in the Reinvestment Zone and place the property back
on the tax roll at a substantial increase..
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT
SECTION 1 . Economic Development Initiative funds in the amount of $198,820
are hereby appropriated for use as part of the funding for the Holt Hotel project.
SECTION 2 The City Manager is authorized to execute contract documents for
the use of these funds including agreement with the Wichita County Heritage Society..
SE CTION 3 . 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 7th day of September, 2004.
ATTEST:
City Clerk