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BK Development Corporation adopts fiscal‑year 2025–2028 strategic plan; board asks policy follow‑up on small business fund
Summary
The BK Development Corporation unanimously adopted Resolution 2025‑08 to adopt the 2025–2028 strategic plan. Board members asked staff to remove a specific $20,000 allocation from the plan, and directed staff to return with a formal policy and application criteria for a small business retention fund before committing budgeted amounts.
The BK Development Corporation unanimously adopted Resolution 2025‑08 to approve its strategic plan for fiscal years 2025–2028.
Staff presented the plan as a high‑level document intended to guide priorities and noted it will be updated annually. During discussion staff recommended striking a line that would have specified an initial $20,000 allocation for a small business retention fund, saying the allocation and criteria were better handled through the annual budget process and a separate policy to be developed later. Staff said the small business retention fund will require a policy with application criteria and that the board will determine per‑business limits (for example, up to $5,000 or other amounts) during the policy process.
Board members discussed how the plan should remain broad while implementation details — application cycles, funding rounds and specific per‑business award limits — should come through a later policy and budget decisions. Councilman Haidt asked whether amendments during the plan period could change elements of the plan; staff said yes, the plan is intended to be a rolling three‑year document that the board may amend as priorities shift or as implementation identifies needed changes. Staff also confirmed the plan will be published on the BCDC website.
A board member asked whether the document had been reviewed by the corporation’s attorney; staff said the strategic consultant Carly is an attorney by training but is not the corporation’s legal counsel and that the plan had not been reviewed by the corporation’s attorney. Staff said policy and application development will follow the plan’s adoption and will return to the board for review.
A motion to approve Resolution 2025‑08 carried unanimously.
