Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Reports Businesses Finances topic
No spam. Unsubscribe anytime.
EDC hears electrical-box art progress and receives March financial report; several downtown businesses announced
Summary
Staff reported progress on downtown electrical-box artwork and new business occupancies, and presented the March 2025 financial statement showing an ending fund balance of $2,827,297 and an unencumbered balance of $2,601,944.
At the April meeting staff reported that painted electrical-box artwork is being installed around downtown and that several new businesses have taken or will take space in the district. The board also received the March 2025 financial report showing a strong fund balance.
Art and business updates
Steven said the first completed painted electrical box is installed near the Chamber and Revive center and other boxes are in various stages of preparation. "The painting will continue as the weather permits," he said. He also listed new tenants: APA Designs (new construction at 405 Laurel), Coastal Roofing and Specialists, Franklin Team Inc., Laurenti Law, SBC Business Services and Fine Line Cosmetic Tattoo among recent occupancies; Floyd's Seafood will move its corporate office into the district.
Financial report
For March 2025 staff reported a beginning fund balance of just over $3,000,000, revenues and interest of $84,911, and total expenditures for the month just shy of $260,000 (including a partial payment for the KFB electrical project and regular city staff service charges). Steven gave the March ending fund balance as $2,827,297 and said the unencumbered fund balance was $2,601,944.
Why it matters: The fund totals and unencumbered balance give the board a snapshot of resources available for proposed projects, including the holiday lighting discussion on the same agenda. Staff encouraged members to attend the April 22 workshop, where project cost estimates and prioritization will be discussed.
No formal votes or actions were taken on the business announcements or the artwork report; the financial report was heard as presented.
