The problem is the hole in the rimstrip, get rid of it. Velox is available in various sizes to fit various rim widths. If you ride through water you may want to consider nylon rim tape. Velox is cotton and holds water longer, not good for rims, nipples, and spokes.
I use Velox on all rims but ride pavement only and not through water. An occasional rain shower probably won't matter.

Al