4A Wichita Falls Economic Development Minutes - 10/28/2015MINUTES OF THE
A_F_Aj.,Ls ECONOMIC DEVELOPMENT CORPORATION
October 28, 2015
PRESENT:
Dick Bundy, President
§ Members
Reno Gustafson, Vice President/Sec'y/Treasurer
§
Leo Lane
§
Dacron Leiker
§
Jim Dockery, Asst. City Manager/CFO
§ City Staff
Amy Krikorian, Assistant City Attorney
§
Karen Montgomery - Gagne, Planning Administrator
§
Pat Hoffman, Property Administrator
§
Linda Merrill, Recording Secretary
§
Henry Florsheim § Chamber of Commerce and Industry
Ann Arnold-Ogden §
Tom Whaylen § Sheppard Military Affairs Committee
ABSENT:
Dave Lilley § Member
Dick Bundy called the meeting to order at 4:00 p.m.
2. APPROVAL OF MINUTES (OCTOBER 20,2015)
Leo Lane moved, seconded by Reno Gustafson, that the minutes be approved. The
motion carried.
Jim Dockery provided the latest financials. Estimated revenues are at $3,968,000, below
the adopted budget of $4,021,000. I'lie Board has expended $2.5 million to date, and has $8.8
million in encumbrances for previous commitments, leaving close to $10 million in unreserved
funds. He included in the amended budget the $1.25 million request before the Board today.
3. SHEPPARD AFB TRANSPORTATION AND PERIMETER SECURITY PROJECCUM
Mr, Dockery asked the Board to consider what it would want to do if the grant is not
approved. The City could get all, a portion. or none of the grant, and the Board needs to decide
whether to leave the ftmds available regardless of the outcome of the grant award, or release the
cash contingent upon the City's success at getting the grant.
Mr. Bundy asked if the WFEDC should approve the $1.25 million request outright or
make such expenditure contingent upon the City's success with the grant. Mr. Lane endorsed
2
Consideration of and possible action on proposed incentives to the City of Wichita Fair in art amount rip to $1.25 million in
forgivable loans in support of the City's Sheppard Air Force Base Transportation and Perimeter Security Project, which
includes the purchase or condemnation of 4021 Burkburnett Road, 4027 Burkburnett Road, 4101 Burrkburnett Road, and .24
acres of Lot 1, l31k. 1, Thaten & Barnes, Abstract 344, `i'.C. Said funds may additionally be used for demotion of existing
facilities on said properties and for construction of new transportation facilities on the properties
The potential of a spec, building was discussed, and Dick Bundy had provided some
estimates. The Stanley Building then became available and it was decided that the right answer is
a mix of existing buildings, with a plan to build if a prospect says they are ready to go.
The funding for the truck driver training program fell through.
WEENVOTMUMM
Mr. Lane moved that the meeting be adjourned. Seconded by Mr. Leiker, the
meeting was adjourned at 4:51 p. .
Dick Bundy, Pt ent