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Santa Fe EDC reports higher sales-tax receipts, hires director and updates Project Warpath timeline
Summary
At its March 25 meeting the Santa Fe Economic Development Corporation heard a budget update showing year-to-date sales tax receipts above budget, approved routine minutes, confirmed a newly hired director’s start window and received a staff update that Project Warpath construction remains on track for completion by summer.
The Santa Fe Economic Development Corporation on March 25 reviewed its monthly financials, approved meeting minutes and heard staff updates on infrastructure projects as members discussed next steps for planned construction.
EDC finance presenter Rudy reported that the budget snapshot shows $205,336 in net revenue over expenses through February and an estimated EDC fund balance of $3,987,900. Rudy said year-to-date sales are running about 9.4% above the fiscal-year-25 budget, representing roughly $101,105 of projected added revenue; staff projected current sales-tax receipts for the year to total about $1,175,505, up from the budgeted $1,074,400.
The board also acknowledged that the EDC has hired a new director; Rudy said the new director was hired “yesterday” and is expected to start “on the 30 first.” The board did not provide the new director’s name during the meeting.
On Project Warpath, Rudy told the board staff met with MB Steel and that contractors have completed specifications and will publish the notice to receive bids. He said the contractor expects to construct a 60-foot improvement down Warpath and that, because certain external approvals (TxDOT, drainage district) no longer pose delays for the bidder, the team remains on a timeline to complete the work by the end of the summer.
Votes and routine business: the board approved the minutes of the January special meeting and the March 12 special meeting as presented. The meeting record shows the motion carried.
Ending: Board members asked follow-up questions about contract longevity for previously approved management services and noted staff will check contract sunset clauses and return with specifics at a later date.
