Committee reviews updated SAEDC investment guidelines, work plan to steer city real estate and development projects

Thomas Davis, an economic development manager in the city—s Community Vitality team, briefed the Economic and Workforce Development Committee on updates to the San Antonio Economic Development Corporation—s (SAEDC) investment guidelines and a staff work plan intended to move the SAEDC toward place-based real estate and revitalization projects.

Davis said the SAEDC was created in 2010 as a Type B nonprofit corporation to "promote, assist, and enhance economic development activities" and that the board historically focused on early-stage biotech and technology investments. He told the committee the EDC had made 12 investments since about 2012 and currently had four active agreements. He said 2023 amendments to the EDC bylaws and a more recent update to the investment guidelines expand the EDC—s role to include real estate and public-private place-based projects while maintaining capacity to invest in startups.

The presentation tied the changes to the city—s October 2022 economic development strategic framework, which the presenter said recommended using the EDC as…