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Joshua restores EDC funding to Chamber, requires quarterly reports
Summary
The council approved restoring a funding agreement between the Type A EDC and the Joshua Area Chamber of Commerce, after the Chamber resolved prior IRS filing issues; Section 3 was amended to require quarterly written reports to the EDC.
The City of Joshua approved restoring a previously paused funding agreement between the Type A Economic Development Corporation (EDC) and the Joshua Area Chamber of Commerce.
Council members heard from Chamber representatives and staff that the organization has addressed IRS and paperwork issues that had put funding on hold. The chamber representative (Randy) and other participants said the chamber intends to resume typical activity and governance; council requested and secured a change to Section 3 of the agreement requiring quarterly written reports to the EDC rather than monthly reports.
Council discussion emphasized oversight and assurance that bookkeeping and filings had been brought up to date; the chamber said it had engaged an accounting firm for filings and was planning to hire a president later in the year. After clarifying the reporting cadence and oversight mechanisms, the council moved, seconded, and approved the funding agreement with the agreed change to Section 3.
