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Stafford EDC approves $2.05 million administrative services agreement amid board concern over allocation and voter intent
Summary
The Stafford EDC board approved a $2,054,773 administrative services agreement and ratified fees paid to the city for FY2025–26 after an extended debate about whether the contract diverts EDC funds away from voter-directed economic-development uses.
The Stafford Economic Development Corporation voted to approve an administrative services agreement that sets administrative fees to be paid to the City of Stafford totaling $2,054,773 for fiscal year 2025–26.
The approval followed substantial debate. Board member Ken Matthew said the board must guard against a trend of “absorbing” EDC funds into the city general fund and urged documentation showing the EDC receives direct, measurable benefits. “I think this is against the wishes of the voters who voted for the formation of SEDC back in 1999,” he…
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