(a) 
Corporate structure.
The Forney Economic Development Corporation is a Texas nonprofit corporation, and a type B economic development corporation governed by chapter 505 of the Texas Local Government Code, as amended. The board of directors will serve as the governing body for the type B corporation, as well as the advisory board for the city regarding economic development projects.
(b) 
Approval of expenditures.
All expenditures of the corporation must be approved by a majority vote of the board of directors, and be approved by city council consistent with section 501.073(a) of the Texas Local Government Code, as amended.
(2003 Code, sec. 9.161)
(a) 
Generally.
The corporation is governed by a seven-member board of directors, consistent with the corporation’s articles of incorporation and section 505.051 of the Texas Local Government Code, as amended.
(b) 
Appointment and removal of members.
Any member of the board of directors of the corporation shall be appointed by the city council, and may be removed with or without cause by the city council.
(c) 
Term of office.
Except as otherwise provided by state law, the city charter, the articles of incorporation, or the bylaws, the term of office of a board member serving on the corporation shall expire on June 30 of the year in which such person’s term expires or until a successor is appointed. Any vacancy in office shall be filled by an appointment for the remainder of the unexpired term. The term of office is for two (2) years.
(d) 
Adoption and amendment of bylaws.
The board of directors of the corporation shall adopt bylaws governing their duties and functions and the date, place and time of regular scheduled meetings. All bylaws and any amendments thereto shall be approved by the city council.
(e) 
No term limits.
The corporation’s board of directors is not subject to term limits.
(2003 Code, secs. 9.162, 9.163)
(a) 
Executive director to be employee of the corporation.
The executive director of the corporation shall be an employee of the corporation, and is hired, dismissed, evaluated, and disciplined by the city manager.
(b) 
Interview process for executive director.
The interview process for an executive director of the corporation will include two (2) members from the corporation's board of directors, two (2) members of the city council, the city manger or the city manger's designee to provide a recommendation to the city manager.
(c) 
Staff members.
Staff members of the corporation shall be considered employees of the corporation and shall report to the executive director of the corporation.
(d) 
Funding of new staff positions.
The city council must approve the funding of new staff positions for the corporation. The funding of new staff positions must also be approved by the board of directors.
(Ordinance 21-37 adopted 12/7/21; Ordinance 23-15 adopted 6/27/2023)
(a) 
Generally.
The executive director and staff members of the corporation shall receive their salary, pay, and other benefits through the city, which shall be payable in installments at the same time as the employees of the city.
(b) 
Benefits.
The executive director and staff members of the corporation shall receive full benefits under the city’s retirement and medical plans, including life, medical, accidental death and dismemberment, sick leave, long-term disability, dental and wellness. The executive director and staff members of the corporation shall also participate in the Texas Municipal Retirement System in the same manner as employees of the city. The executive director and staff members of the corporation shall pay all insurance premiums not funded by the city under its standard benefit policies.
(c) 
Reimbursement.
In accordance with sections 501.007 and 501.067 of the Texas Local Government Code, as amended, the corporation shall reimburse the city for the salary, pay, and other benefits provided by the city to the executive director and staff members of the corporation.
(Ordinance 21-37 adopted 12/7/21)