Res 104-2016 10/18/2016Resolution No. _104-2016__
Resolution approving the programs and expenditures of the
Wichita Falls Economic Development Corporation (WFEDC) and
amending the budget to include up to $3,359,200 for USA800 to
establish an inbound call center in Wichita Falls
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 September 30, 2016, the WFEDC 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:
USA800 Project – Cash for jobs in the amount of $2,584,000 for creating and
retaining 646 jobs in Wichita Falls for at least 12 months per position over a
three-year period.
A Skills Development Training Grant in the amount of $775,200 if an application
to the Texas Workforce Commission is not funded. This grant will consist of a
total amount not to exceed the lower of (1) the amount to be provided if the
grant were successfully funded, (2) $1,200 per trainee, or (3) $775,200.
Should USA800 cease operations in Wichita Falls during its first five-years here,
they must repay the WFEDC within 60-days of closure based on the following
schedule:
o Less than three years of operation 75% of this incentive distributed
o After 4th year of operation 50% of this incentive distributed
o After 5th year of operation 25% of this incentive distributed
o After 6th year of operation 0% of this incentive distributed.
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 18th day of October, 2016.
______________________________
M A Y O R
ATTEST:
____________________
City Clerk