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EDC reviews financials; board broaches McAllen Street project, wayfinding and property acquisitions
Summary
Finance staff reported sales-tax receipts were trending above the prior year in late 2024, and the board discussed several capital priorities including the McAllen Street project (estimated at about $2 million), wayfinding signage and a possible property purchase—projects that will require further cost updates and council involvement.
Montgomery EDC finance staff reported on December 2024 financials and sales-tax trends and the board used the update to explore funding options for several planned capital projects, including McAllen Street improvements, wayfinding signage and a possible property purchase.
Mary Anne, the city finance staff member at the meeting, told the board that sales tax for October–December 2024 trended about 20–40% above the prior-year months, and that the EDC’s pooled cash…
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