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Lotus Economic Development Corporation proposes strategic plan, park funding and restrained incentives in FY2026 budget
Summary
The Lotus Economic Development Corporation told Helotes council it plans a strategic plan, increased park funding and a cautious approach to incentive programs while forecasting roughly $2.9 million in revenue for the coming year.
Scott Hardwick, executive director of the Lotus Economic Development Corporation, presented the EDC’s proposed operating budget and priorities to the Helotes City Council, outlining revenue estimates, a pause and review of incentive programs, and a material increase in park funding tied to an imminent park master plan.
Hardwick said the EDC’s revenue estimate relies primarily on a half‑cent sales tax approved by voters in 2003 and that the organization expects roughly $2.5 million in sales‑tax revenue before accounting for contractual rebates and other items. “As part of that, and when you are looking at our budget, our revenue estimate, and I'm keeping it the same as it was last year, is, approximately 2,500,000,” Hardwick said.
He told council the EDC has a Chapter 380 agreement that requires repaying roughly $1 million to a local business as part of an incentive arrangement. Hardwick said the corporation has put a short moratorium on accepting new incentive applications while it evaluates current programs to make sure the grants and tenant improvement awards meet strategic goals.
The EDC is budgeting increased funds for park work, reflecting a master plan expected to be completed soon. Hardwick said the EDC board has prioritized the park and “literally quadrupled the amount of funds dedicated to the park going into this next proposed budget to help, to help fund some of those improvements related to the master plan.”
Hardwick also said the EDC plans to pursue a professional strategic plan via consultant to guide economic development priorities over the next three to five years and has included an administrative staff position in the proposed budget; he noted the EDC board voted Aug. 20 to increase his salary and that the board expects to present the final strategic work product and park priorities to the council when ready.
Hardwick summarized priorities for the EDC as attracting and retaining businesses, improving the city’s Old Town appearance and signage, boosting tourism and implementing the park master plan. He said the EDC’s proposed expenditures slightly exceed projected revenues and that the organization plans to draw from fund balance (roughly $250,000) to reach a total revenue figure near $2.9 million.
Ending: The council received the EDC presentation and had no substantive objections; staff and the EDC will return with line‑item details as budgets move toward the city’s September public hearings.
