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EDC meeting roundup: minutes, officers, resolution for La Galadera, bank signatories and staff travel approved
Summary
At its meeting the Rio Grande City EDC approved minutes, elected officers for the fiscal year, passed Resolution 2025-35 supporting La Galadera meat market and initiating a 60-day petition period, updated bank signatories, and approved staff travel to the Texas Downtown conference.
The Rio Grande City Economic Development Corporation handled a series of administrative and routine items, approving minutes, electing officers, adopting a resolution of intent for a Type 4B project, updating bank account signatories and approving staff travel.
Minutes: The board approved minutes from the Sept. 17, 2025 meeting by voice vote.
Elections: Under the board's bylaws the EDC held its annual election of officers for the fiscal year beginning Oct. 1. The board elected Mario Mendez as president; David Reyna as vice president; Sergio Trevino as secretary; and Jose Garza as treasurer. The board announced the vote as unanimous by voice.
Resolution for La Galadera: Directors approved Resolution No. 2025-35 declaring the corporation's intent to undertake an economic development project supporting La Galadera meat market, authorizing publication of a public notice of intent and initiation of the 60-day petition period. Staff said the notice must be published 60 days before awarding funds and that the incentive would be on a reimbursement basis tied to a performance agreement.
Bank signatories: The board approved an amendment to the corporate resolution to update authorized bank account signatures to reflect newly elected officers; staff will circulate the updated resolution for signatures and submit it to the bank.
Staff travel: The board approved travel for Yandere de la Cruz, Main Street manager, to attend the Texas Downtown 2025 conference in Waco, Texas, as required professional development for the Main Street program.
Financial report (non-action): Staff presented unaudited September financials showing sales tax receipts of $131,818 for the month (a 10.49% increase year-over-year) and year-to-date sales tax revenues of $1,570,000, which staff said equals 94% of the projected annual budget. Expenditures for the 2024-25 fiscal year to date were $1,258,763 (77.75% of approved budget). Staff reported the EDC fund balance at the end of fiscal 2024 was $2,295,038 and projected a fund balance of $2,723,853 after carrying over excess revenues; staff noted these figures are unaudited and subject to minor audit adjustments.
The board adjourned following routine business.
