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Red Oak council approves ROIDC land purchase funding and renews city manager contract with retention pay
Summary
The Red Oak City Council approved funding for the Red Oak Industrial Development Corporation (ROIDC) to purchase roughly 84 acres, authorized an employee-retention sinking fund amendment, and renewed City Manager Todd Fuller’s employment agreement with a base increase and a supplemental economic-development stipend.
The Red Oak City Council voted unanimously to approve three related actions following closed-session discussion: funding for the ROIDC to buy an approximately 84-acre tract, an amendment to create a sinking fund for employee retention, and renewal of City Manager Todd Fuller’s employment agreement with additional compensation tied to economic-development duties.
Council legal staff read the motions into the public record after the council returned from executive session. The council approved funding by the Red Oak Industrial Development Corporation to purchase the Wildwood tract at a price of $4,645,630, vote 4-0. The council also approved an amendment to the fiscal-year 2024–25 general services agreement between the city and the ROIDC to establish…
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