The Argyle Municipal Development District voted to finalize a draft agreement providing up to $50,000 in economic assistance to Argyle Party & Gift to reimburse renovation costs for the Yellow Depot building at 702 US Highway 377. The award amount had previously been approved; the meeting considered a written agreement to codify terms.

Harrison (staff) said the draft agreement reflects the amount approved at the board’s prior meeting and includes red‑line edits from the town attorney. Board members asked staff and counsel to clarify a term in the draft—“community engagement target”—and to specify what “coordinate” means in the context of continuing the town’s farmers‑market activities at the site, because the agreement ties failure to perform to events of default.

Board members also asked that an erroneous reference to an “Italian restaurant” in the draft be removed for clarity. Staff confirmed that the certificate of occupancy requirement had been achieved (the applicant obtained occupancy on Oct. 7, according to staff). The draft requires final inspection and submission of documentation demonstrating project expenditures before reimbursement.

During discussion some members expressed concern about embedding payroll or employment targets from the application into a binding agreement for a small business, saying such targets create a narrow margin for error. Staff said application details are useful for context but that converting small‑business application estimates into punitive contractual conditions is not standard practice.

A motion to approve the economic assistance agreement with the amendments discussed—define the farmers‑market coordination duties, remove the Italian‑restaurant reference, and clarify signature authority—was made and seconded. The board approved the motion; the transcript does not record a roll‑call vote tally. Staff will revise the agreement to add a clear definition of the farmers‑market coordination duties and to clarify signatory authority before executing the contract.