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Highland Village CDC to use formal funding agreements to document 4B sales-tax spending
Summary
The Highland Village Community Development Corporation heard a presentation from City Attorney Kevin Laughlin explaining that the CDC will begin attaching funding agreements to annual budgets to document and authorize city use of the CDC’s 4B sales-tax funds; the board deferred formal approval of the paperwork to its next meeting.
Kevin Laughlin, the city attorney, told the Highland Village Community Development Corporation on Jan. 12 that the CDC will begin using written funding agreements to memorialize how the corporation’s 4B sales-tax revenues are used. “This is the agreement between, you know, 4B corporation and the city,” Laughlin said, adding that the documents are meant to “paper the spending” and make a clear record of eligible projects and…
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