Balch Springs EDC Type A approves FY 2025–26 budget, commits $1.2 million to Alexander Village infrastructure

The Balch Springs Industrial and Economic Development Corporation (Type A) voted Aug. 18 to approve its fiscal year 2025–26 budget and to commit $1.2 million toward the first phase of infrastructure for the Alexander Village development, with an additional $300,000 planned for FY 2026–27.

City finance staff presented the budget package to the board. Rebecca Olsen, finance specialist III, told the board sales tax accounts for about 99% of the EDC Type A’s revenues and that proposed expenditures are concentrated in transfers (about 82%), administration (7%) and economic development programs (11%). Olsen said the $1.2 million is earmarked for collateral infrastructure—specifically the first phase of the Alexander Collector Road serving the Alexander Village site.

The board was given projections showing a projected fund balance of about $2.2 million at the start of FY 2026 and an estimated ending fund balance of roughly $1.6 million after the planned projects. Olsen and staff said the larger draw on fund balance in FY 2026 is driven by the Alexander Village commitment and that the board expects to narrow the budget gap and move toward a balanced operating position by FY 2027 if project and revenue trends hold.

Board members asked how long the EDC would tap fund balance and were told the heavy expenditure is concentrated in the coming year for the collector road and that future years are budgeted at lower levels for the project. The presentation noted other projects under consideration—Lakeside and Lake June/Ranchway intersection improvements—but staff said those efforts will pursue alternative funding sources, including grant programs, rather than relying primarily on Type A reserves.

Olsen also reviewed outstanding debt and a repayment schedule showing the EDC’s debt is projected to be retired by FY 2032. She confirmed the board had adjusted transfers in the FY 2026 proposal to reflect retention of funding for the Alexander Village project and removal or reprioritization of other previously listed projects.

The motion to approve the FY 2025–26 budget carried on a recorded roll call. The board will bring individual incentive requests to the board separately for approval as developers present specifics.

According to staff, the Alexander Village development is anticipated to be a mixed-use project that the governing EDC agreement describes as including retail, restaurants, family-entertainment uses and multifamily housing; the developer submitted a preliminary plat the week before the meeting. Staff said the full development is expected to represent a multi‑million‑dollar private investment and that the Type A’s funding is for public infrastructure that will serve the project.

The board approved the budget in a recorded vote and directed staff to proceed with implementation steps identified in the presentation.