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Hollywood Park EDC approves administrative services payment, reviews finances and plans outreach
Summary
The Hollywood Park Economic Development Corporation approved reimbursement to the town for administrative support, accepted financial statements for the period ending Dec. 31, 2024, and discussed sales‑tax reporting, business outreach and training scheduling. No additional funding approvals were made beyond the administrative services agreement.
The Hollywood Park Economic Development Corporation voted to adopt an administrative services agreement to reimburse the town for city secretary, treasurer and facility usage costs and approved year‑end financial statements at its regular meeting on Feb. 1.
In a roll call at the start of the meeting the board confirmed a quorum. The corporation reviewed the financial statements for the three months ended Dec. 31, 2024; staff reported total cash of $741,000 and a net worth of $776,000, sales tax receipts of $16,563 and interest income of $2,611 for December. The balance in a Texas CLASS investment account was cited as $642,000 at 4.34% yield; a Plains sweep account held $88,598 and was earning 2.85%.
Votes at a glance:…
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