[{"_1":2,"_99":-5,"_100":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6458263,"mediaKeyId","5823005-c6706160cef60f5159d2e7d1c163db88","parentId",5823005,"title","CIDC moves to consider use of sales-tax proceeds for ‘Project Pearl’ after closed session; public hearing draws no speakers","audioSeconds",106,"startMs",912000,"endMs",1018000,"viewUrl","/Search/View?dp=1&key=5823005-c6706160cef60f5159d2e7d1c163db88&start=912&end=1018","thumbnailUrl","https://assets.pipeline.soar.com/5823005-c6706160cef60f5159d2e7d1c163db88/thumbnail_912000.jpg","articleUrl","/articles/6458263/Conroe/Montgomery-County/Texas/CIDC-moves-to-consider-use-of-sales-tax-proceeds-for-Project-Pearl-after-closed-session-public-hearing-draws-no-speakers","mediaUrl","https://secure.pipeline.soar.com/6458263-a02c74093d2b24c3ed510efe5f27263f/orig.mp4?Expires=1770732896&Signature=XNwKM6slzpMhrPV2cPJg9YSL3JVe8dxfyPH36L4XcbSZzcM8qWViBPFGnlps7uBbR-YVG8fUi5USm2FLaG9M7C70X~aLrN~rKwXr1zyykt~XUkh-MTBfu2~OpEILAKmWY7eAPIjA6uOsm2PKGP24xPuXNWabsfKgf-hA3ggMmL3R7e4gtq8r-kIWDQ5pU2ezUZxINuuaKipNKrxOuMQJRYTYUC61pBNLP1pfkEL6g8Qtwvvs9foncfVuNvayPxovqMRpWfBO8KqA0uukjKuKYYMYRfqTPhbnFDxgTH5tCCxdCqLf5pl3cHKpMiPm4nJSpg7zAQz0L083AbO8HVKvHQ__&Key-Pair-Id=KUT5TJCACFTXG","author","Conroe","date","2025-09-24T00:00:00Z","article","The Conroe Industrial Development Corporation on Sept. 24 went into executive session to deliberate financial incentives for the Conroe Convention Center and a hotel project, then reopened its meeting and moved to consider the use of sales-tax proceeds to fund a development incentive agreement regarding Project Pearl.

The board cited Texas Government Code §551.087 when it went into executive session to consider offers of financial incentives and contract provisions related to the Conroe Convention Center and hotel project and referenced governing documents of the Conroe Local Government Corporation. The executive session began at 3:15 p.m. and the public meeting resumed at 4:34 p.m., according to the meeting record.

Following executive session, the board conducted a public hearing in accordance with Texas Local Government Code §505.159 to consider the proposed use of sales-tax proceeds for Project Pearl. The chair asked whether anyone wished to speak; no members of the public spoke during the hearing.

The board then considered item 8 — the use of sales-tax proceeds to undertake and fund a development incentive agreement regarding Project Pearl — and approved the motion to consider the item. The motion passed by voice vote with all directors present voting in favor.

The meeting record shows the board also voted to cancel the Sept. 25, 2025, regularly scheduled CIDC meeting and then adjourned. The board noted a clerical correction to the minutes, clarifying that the minutes referenced 07/24/2025 and that the Sept. 24 gathering was a regularly scheduled meeting.

The transcript records the executive-session citations, the public-hearing statutory citation and that no public comments were offered; the board’s action to move forward with consideration of sales-tax funding for Project Pearl does not itself finalize a development agreement.","mediaType","Video","parentTitle","Conroe - CIDC","oneSentenceSummary","The Conroe Industrial Development Corporation on Sept. 24 moved to consider using sales-tax proceeds to fund a development incentive agreement for Project Pearl after returning from an executive session on related financial incentives.","taxTitle","Conroe, Montgomery County, Texas","taxId",2810,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6458268,"CIDC reviews August treasury report and Q3 investment report; sales tax near budget and bond principal noted",442,114000,556000,"/Search/View?dp=1&key=5823005-c6706160cef60f5159d2e7d1c163db88&start=114&end=556","https://assets.pipeline.soar.com/5823005-c6706160cef60f5159d2e7d1c163db88/thumbnail_114000.jpg","/articles/6458268/Conroe/Montgomery-County/Texas/CIDC-reviews-August-treasury-report-and-Q3-investment-report-sales-tax-near-budget-and-bond-principal-noted","https://secure.pipeline.soar.com/6458268-d03d83c36d7ffd27280ee2ad71e5688f/orig.mp4?Expires=1770732896&Signature=JMmpRpK4YUIfanTtUfUDcaNQnTQJlde7Olw-ZJOXyP~rT3BCUcSZBeOG9BRGnapwBMtou36frCGAVeKrBgp0f0-A8hxcP475b5rq9CT9BDJZv02MdfIyeygZH4J7Ha9o1IIiRjBYSKnvaNeQEfN8w4hdyNDQe2DvhhFez0bHTH8VefQs48--sRhYqMekPcpKq7LtDtvFxwFz1OGyQy6Nvyr18Wy331cAjEXxLYZimc~UbJmZsIactgFGVh7v1j7HCUAO9NH7CYwvfLMKvSOVdeLcDyI1V3nimra~ha-ADJ~dzVamM0chpv7-ZGeArvRAiNibpBMSSYoLev-iyLN8sA__&Key-Pair-Id=KUT5TJCACFTXG","Board finance staff presented the Conroe Industrial Development Corporation’s August treasury report and the third-quarter investment report at the Sept. 24 meeting.

The treasurer’s report for August showed sales tax revenue of $1,707,984 for the month and year-to-date sales tax receipts of $16,000,558.79, which the presenter said was about 98% of the annual budget; staff said an additional roughly $311,000 would meet the annual budget target. The report listed an ending fund balance of $39,410,633 and a beginning fund balance of $40,322,424.

Staff noted a significant August expenditure month because of a sales-tax revenue bond debt service payment. The presenter said the corporation made a principal payment on the sales-tax revenue bond during the month and that remaining principal was about $59 million.

The third-quarter investment report, covering April 1 through June 30, 2025, showed that market value declined from about $41.8 million to $39.3 million and that the corporation earned $449,000 in interest for the quarter. The reported yield to maturity was 4.32%, down 0.04 percentage points from the previous quarter; staff said the benchmark 6-month Treasury yield was 4.28% at report time and noted a recent 25-basis-point rate cut would likely push yields lower in subsequent reports.

Staff told the board that the corporation’s investments were essentially held in liquid pools and that all investments comply with the Public Funds Investment Act and the city’s investment policy.

The board accepted the treasurer’s report and the third-quarter investment report by voice vote; all present voted in favor.","Board members heard an August treasury report showing sales tax revenue of $1,707,984 for the month and year-to-date sales tax of $16,000,558.79 (98% of budget), and a third-quarter investment report showing $449,000 interest earnings and a market value decline to about $39.3 million.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6458270,"Conroe Industrial Development Corporation adopts FY 2026 budget, earmarks $14.4 million for water-well work",129,641000,770000,"/Search/View?dp=1&key=5823005-c6706160cef60f5159d2e7d1c163db88&start=641&end=770","https://assets.pipeline.soar.com/5823005-c6706160cef60f5159d2e7d1c163db88/thumbnail_641000.jpg","/articles/6458270/Conroe/Montgomery-County/Texas/Conroe-Industrial-Development-Corporation-adopts-FY-2026-budget-earmarks-144-million-for-water-well-work","https://secure.pipeline.soar.com/6458270-87a550eaf0dfdaad47d0d6eb6057a407/orig.mp4?Expires=1770732896&Signature=he8VfZyaJ9G49t0Jm-THpePcY2vQPheiRlZ1UVN6uR3OxiK4k9HGQhddCq1bxhCeaQEMBmtDPX6rOx8M71Rghpkhl1UiHL4~sNkNqoraX0LUsUwP9SCJFLGVHEpdSbJJZNTspaGLzfrIz0qxBejXX7DlDOTwWoF9DEIqTELBbNH7xXnE8Xp8YECSyTx0qg-B2q0SDtI~moqzJTTu2YbCtx7pykMrRkkSa8ogJcaXn1T-WAXISCgMP6YaIqttoO~iHRS27a1tMOBhFQZIxXXAELU3-9zcjUJRCR2X0a6Eqds3rsQm3LMThO~6-WQlAmUTgNIYsexBigFvnWbkiZNBfg__&Key-Pair-Id=KUT5TJCACFTXG","The Conroe Industrial Development Corporation on Sept. 24 approved its fiscal year 2026 budget, which projects $18,795,307 in revenues and $27,427,432 in expenses and includes a $14.4 million contribution for water-well infrastructure.

Board members voted to adopt the budget at the meeting; the motion passed by voice vote with all directors present voting in favor.

The approved budget projects a beginning fund balance of $31,057,618 as of Oct. 1, 2025, and an anticipated net loss of $8,632,125 for FY 2026. The budget document attributes the projected net loss primarily to the $14.4 million contribution toward water-plant infrastructure. The corporation expects to end FY 2026 with an estimated $22,400,000 in fund balance.

Board staff said the $14.4 million figure reflects anticipated contributions next fiscal year; total commitments for the water-plant program could reach about $22.5 million depending on project timing and future allocations. Board members discussed schedule uncertainty for Water Plant 32 and Water Plant 33; staff said Plant 32 is expected to be on schedule for December 2026 and Plant 33 has evolving cost estimates.

The FY 2026 budget also reflects a 6% cost-of-living adjustment (COLA) included at council direction, budgeted at $16,400 but noted as a placeholder that assumes a fully staffed complement. Staff said actual costs will likely come in below the placeholder amount given current vacancies.

The board’s vote to adopt the budget followed a brief discussion of prior reductions to supply and travel line items made since the July budget discussion. A member of the board called the use of reserve funds “a very appropriate use of our reserve fund to meet that current need.”

The board approved the budget by voice vote; the meeting record shows all present directors voted in favor.","The Conroe Industrial Development Corporation approved a FY 2026 budget that projects $18.8 million in revenue, $27.4 million in expenses and a $14.4 million contribution for water well infrastructure, leaving an estimated $22.4 million in fund balance at year-end.","actionData","errors"]

Article not found

CIDC moves to consider use of sales-tax proceeds for ‘Project Pearl’ after closed session; public hearing draws no speakers

CIDC reviews August treasury report and Q3 investment report; sales tax near budget and bond principal noted

Conroe Industrial Development Corporation adopts FY 2026 budget, earmarks $14.4 million for water-well work