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EDC approves FY2025–26 work plan and budget, will draw from reserves to cover one‑time investments
Summary
The Economic Development Corporation approved a work plan and an FY2025–26 budget that uses about $368,860 from unassigned reserves for one‑time projects including a proposed pool and hotel incentives; board directed staff to publish required public hearings for new projects.
The Economic Development Corporation voted Aug. 25 to adopt its FY2025–26 work plan and a budget that authorizes a draw from the EDC’s unassigned fund balance to cover one‑time investments. The board approved the budget in a voice vote after staff and the finance director described the planned expenditures and the expected year‑end reserve level.
Board members said the largest new items in the work plan are a tourism‑oriented pool project, a Main Street beautification line, and a job‑training match tied to a Texas Workforce Commission grant. Finance Director Leon Den told the board that "even with the deficit ... we're still looking at keeping a fund balance of over $2,200,000 at the end of 2026." The…
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