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Council approves airport loan, land purchase, interlocal changes and election order in single package of votes
Summary
Council approved a $600,000 intergovernmental loan to fund airport hangar improvements, a negotiated land purchase for the Park Plaza project, a $58,355 contract change order offset, an amended interlocal with Mineral Wells ISD, and an order to schedule the May 2 election; most motions passed unanimously or by recorded roll call where required.
In a series of administrative and economic development actions on Feb. 17, the Mineral Wells City Council approved several measures moved together or taken in sequence.
Intergovernmental loan for airport hangar: Council approved an intergovernmental loan agreement authorizing Tax Increment Reinvestment Zone No. 2 to provide $600,000 at 5.8% annual interest over 10 years to pay for required improvements (fire suppression, asbestos abatement, stairwell access) at Hangar AP 5100 in the Mineral Wells Regional Airport to satisfy a lease commitment with Moog Incorporated. Staff said the structure uses idle TIRZ cash and that interest payments amount to nearly $200,000 over the term.
Park Plaza land purchase and contract change order: The council approved purchase of roughly 1.0184 acres from John Baumgartner not to exceed $58,355 plus closing costs to support the Park Plaza project; funding comes from bond funds and staff described the transaction as financially net neutral with a reciprocal parking agreement under work. Council also approved Change Order No. 2 to reduce a professional services contract by $58,355 to align with the land purchase.
Interlocal with Mineral Wells ISD: Council approved an amended and restated interlocal agreement allowing the Mineral Wells Independent School District to continue participating at 100% in TIRZ receipts while setting a fixed amount ($510,227) to remain in the TERS account and returning the remainder to ISD for educational facilities inside or outside the zone. Staff said the approach resolves prior interpretation disputes and will continue the incremental funding structure.
Election order: Council adopted an order to hold a general election on Saturday, May 2 to elect a mayor and council members for wards 1 and 3, with an estimated cost if held of $10,948.20. The council authorized the mayor to sign the election contract and related notices.
Each item was approved by motion and voice or recorded vote as required; staff noted follow‑up steps and the need for written reciprocal agreements where appropriate.
