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Cedar Park Type A EDC adopts $9.7 million FY2026 budget, funds innovation grant and new staff post
Summary
At a special-call meeting on Sept. 8, 2025, the Cedar Park Type A Economic Development Sales Tax Corporation approved its fiscal year 2026 budget that includes $9.7 million in revenues, a $400,000 innovation grant to attract startups, and funding for a new administrative assistant position.
At a special-call meeting of the Cedar Park Type A Economic Development Sales Tax Corporation on Sept. 8, 2025, the board adopted the fiscal year 2026 budget that estimates $9.7 million in revenues and includes a $400,000 innovation grant and funding for a new administrative assistant position.
The budget approved by the board projects $9,700,000 in revenues—primarily sales tax—and budgets $8,500,000 in expenses for the Type A fund in fiscal 2026. Erica Solis, a finance department presenter, told the board the proposal assumes conservative growth and includes two notable enhancements: a $400,000 innovation grant intended to attract fast-scaling startups and a new full-time administrative assistant (FTE) to support economic development staff.
“The innovation grant is budgeted at $400,000. This incentive is designed to attract fast scaling startups to relocate and and grow their headquarters and operations in Cedar Park,” Erica Solis said. Solis also said salaries and computer equipment for the new FTE will be funded through a transfer to the general fund where Type A staff currently reside, and the Type A fund will pay a one-time $75,000 office renovation as a capital cost to make room for the position.
Key budget figures presented to the board include a $3.2 million annual debt service payment tied to the HEB Center that continues through fiscal 2033 and staff support costs of about $800,000, which Solis said reflects the cost of general-fund departments that support the Type A corporation. Economic development agreements are budgeted at $2.4 million for 2026, she said.
Solis told the board the HEB Center contribution was increased in the proposed budget to reflect the city’s contractual share rising from 33% to 50% of certain capital expenditures beginning in 2026. She said the outstanding principal on related debt as of Sept. 30, 2025, will be $21,900,000 and that staff continue to monitor market conditions for any potential defeasance or refunding opportunities.
The board was presented a projected increase of $1,100,000 to the fund balance in 2026, leaving an estimated available fund balance after a reserve requirement of about $4,700,000 of $15,300,000 for future initiatives. The reserve was described as approximately two months of budgeted sales-tax collections plus one year of annual debt service, consistent with current financial policy.
During the meeting the board approved routine minutes from the Aug. 18, 2025, regular meeting by motion and later moved, seconded and voted to adopt the fiscal year 2026 budget resolution. The motion to adopt the budget carried after an affirmative voice vote recorded as “all in favor.”
Votes at a glance
• Motion to approve minutes from the Aug. 18, 2025, regularly scheduled meeting — outcome: approved (motion/second; recorded as “all in favor”).
• Resolution adopting the fiscal year 2026 Type A Economic Development Sales Tax Corporation budget — outcome: approved (motion/second; recorded as “all in favor”).
The City Council will hold the second public hearing and consider adoption of the citywide fiscal year 2026 budget on Thursday; the Type A budget adopted by the EDC board was included in that citywide proposal.
