Del City Economic Development Authority adopts FY2025–26 budget; fund primarily used for debt service
Loading...
Summary
The Del City Economic Development Authority adopted its FY2025–26 budget on June 12; staff reminded trustees the authority holds most of the city's debt including the Scott Street loan, a 2019 series loan and TIF-related obligations.
The Del City Economic Development Authority (EDA) on June 12 held a public hearing and adopted the authority’s FY2025–26 budget by resolution, authorizing the chairperson to sign the document.
Staff described the EDA as the entity that contains most of the city’s debt obligations, citing the Scott Street loan, the 2019 series loan and the TIF district obligations tied to Sooner Road. Trustees noted the distinction between the EDA, the city’s economic development fund and other revenue sources, and staff asked the record be corrected where an earlier resolution label used a different fiscal-year number.
Trustees Eason, Tatum and Brown voted aye; the chairperson cast the vote in favor and the motion passed. No substantive public comment on the EDA budget was recorded during the hearing.
