Benbrook EDC board approves $1.20 million FY2025–26 budget; holds executive session on real property

The Benbrook Economic Development Corporation board on Monday approved a $1,201,391 fiscal year 2025–26 budget after holding a public hearing that drew no public comments.

EDC Director Ms. James told the board the proposed FY2025–26 budget totals $1,201,391, including administrative costs of $526,391 and project funding of $675,000 for EDC accounts. Project line items the director identified include a storefront improvement grant of $100,000, a remaining incentive/reserve for "Benbrook LLC" of $500,000 for maintenance or outstanding incentives, and $25,000 for beautification along Benbrook Boulevard.

The board opened a public hearing on the budget at 7:04 p.m.; no one spoke and no written comments were submitted. Board member Kristen Melton moved to close the hearing; Thomas Casey seconded the motion, and a roll-call vote closed the public hearing. Melton then moved that the board approve the proposed FY2025–26 budget and recommend city council ratify it; Casey seconded. A roll-call vote later in the meeting recorded unanimous approval.

During the director's monthly report, Ms. James reported May activity and account balances. She said the board received $1,015,098 for the month of May, reported year-to-date sales tax collections of $1,001,146.29, and provided account balances that included a checking account balance of $3,274,278.57 and a tax pool account balance of $4,171,261.89, which Ms. James said brought total liquid assets to $7,445,540.46. She also reported interest collected of $20,128.47, and itemized May revenue components including $254,761.98 in sales tax, $2,036.54 in franchise payments and $300 in rent, which she said produced total revenue for the month of $277,226.99 and equal total expenditures listed as $277,226.99 for May. Ms. James said total encumbered funds at month end were $2,761,133.34.

After the regular business, President Kent Williams announced the board would move to a closed executive session under Chapter 551 of the Texas Government Code, citing section 551.072 for deliberations regarding real property. The board met in executive session and returned to open session at 7:25 p.m.; Williams said there was no action necessary following the executive session.

Votes at a glance: The board unanimously approved minutes of the May 19, 2025, regular meeting; unanimously approved closing the public hearing on the proposed FY2025–26 budget; and unanimously approved the proposed FY2025–26 Benbrook EDC budget and recommended city council ratification.

The board adjourned at 7:25 p.m.