4B mirrors 4A's $100k contribution
towards water retention project
Iowa Park Community Development Corporation (4B) voted to contribute $100,000 to the City of Iowa Park’s effluent water project , which will provide water for Cryovac.
City manager Mike Price explained to the board members that Cryovac is Iowa Park’s third largest water user. The City of Electra and Wichita Valley respectfully, being the top two, and using the effluent water would reduce the amount of water Iowa Park purchases from Wichita Falls by 10 percent.
Price said Cryovac using the water is a way to conserve water that is normally released down a creek. He explained the project will cost approximately $800,000 and the Economic Development board (4-A) has committed to also contributing $1000,000 and will pay up to $50,000 annually to service the debt. He explained that fees charged to Cryovac for the effluent water will be less than what they pay for potable water, this resulting in the City of Iowa Park collecting less revenue, but will keep jobs in the community.
Following the unanimous vote by the board members present, the board reviewed the bids received for the electronic LED sign. The board had voted during their last meeting to seek bids for an electronic sign that would be used by the City of Iowa Park as an informational sign.
Four bids were received, however one of the bids was received after the time deadline and remained unopened. The bids ranged from $18,780, which did not include installation to $41,590, installed.
However, after committing to give $100,000 for the effluent water project, the board decided to take no action on the sign.
“After looking at the bids and giving this $100,000 I personally think we need to hold off for now,” said board member Heath Hodges. “I think it is a great idea, but with no water what good is a $40,000 sign going to do. I think water should be our first concern.”
Board member Gene Jordan said he agrees with Hodges. “We need to wait and build our money back up,” said Jordon.
City of Iowa Park Financial Director Becky Ferguson and board treasurer gave a financial report which reflected a balance of $284,419. She told the board members they have approximately $80,000 in commitments, leaving $200,000. With the $100,000 for the water project the board will have a balance of approximately $100,000.
Ferguson said the October sales tax revenue was $22,475, an increase of 18 percent.