Gainesville — Tuesday’s Gainesville City Council meeting included the tabling of a revenue-sharing agreement between the city and an incoming company following the death of the company’s owner.

Council members tabled a second reading of a sales tax revenue-sharing agreement between Gainesville Economic Development Corporation and Turner Forest Industries (TFI). The terms of the agreement would allow TFI to receive 0.50 percent of the 1.25 percent city sales tax while the city maintains 0.75 percent.

However, GEDC Executive Director Kent Sharp told council he was notified that TFI owner John Turner recently died. He added that Turner’s son said TFI still intends to relocate their sales office to Gainesville, but requested a six-month extension before final consideration of the agreement.

Other meeting highlights:

• City officials received and accepted the annual audit for fiscal year ending Sept. 30, as prepared by the accounting firm of Schalk & Smith. Tom Schalk addressed council members, telling them he was pleased to report that the audit was probably the best he had seen in many years regarding the City of Gainesville.  Schalk highlighted three points:  1) There are no deficit fund balances; 2) A special capital fund was created for the swimming pool; and 3) The general fund balance is $9,134,000.  The firm issued the city a clean, unqualified audit — the highest level of attestation they can give an entity. Mayor Pro Tem Ray Nichols added that the report is a reflection on the “outstanding” job the city manager, finance staff and all city departments have done in running the city efficiently.

• Council approved a 30-year airport ground lease with Eric Malzer. Malzer has entered into an agreement with Kevin Brown to purchase a private hangar located on city property to store his aircraft. The ground lease is for a primary 30-year term with two potential five-year extensions if agreed upon by both parties. The airport board recommended approval of the long-term lease.

• Council approved a lease with RW Airframes, Inc. for a city owned multi-use hangar at the Gainesville Municipal Airport.  Terry G. Rogers, president of RW Airframes, said his company will use the hangar to restore and rebuild World War II and Korean War-era military aircraft. The lease is for a primary 10-year term at $1,000 per month with two potential five-year extensions if agreed upon by both parties. The airport board recommended approval of the lease.

• Council awarded a contract for “Bid No. 2013-10” to EZ-GO Golf Car Company for the lease of 25 golf carts for the Gainesville Golf Course for a period of 48 months at a cost of $79,272.00. Four bids were received on Feb. 7, 2013, in response to the advertised request for bids.  Staff recommended the award to EZ-GO.

• Council approved an action by the GEDC that increased the amount of a previously approved grant for the Medal of Honor Park. The increase of $60,000 is in the form of a matching grant for funds raised by the Medal of Honor Society from Tuesday forward.  The GEDC originally adopted the project in January 2012, and approved $150,000 for the park. The park will be located at 101 S. Culberson Street.

• Council authorized an agreement between the city, the Gainesville Independent School District, North Texas Medical Center and North Central Texas College to share the Gainesville Civic Center as a joint polling location for their elections on May 11, 2013.

• Council authorized a lease agreement with Cooke County for rental of voting machines for the city’s election in May 2013, as required by law.  The county provides the voting machine to the city at no charge.