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Nassau Bay council approves $2.8M EDC project, accepts audit and authorizes hiring of Paul Lopez
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Summary
At its April 13 meeting, the Nassau Bay City Council approved a $2.8 million EDC business development project, accepted the fiscal 2025 audit with an unmodified opinion, and authorized an employment agreement to hire Paul Lopez as permanent city manager. All votes passed unanimously.
The Nassau Bay City Council on April 13 approved a second and final reading authorizing the Nassau Bay Economic Development Corporation to undertake a roughly $2.8 million business development project, accepted the city’s audited financial statements for the fiscal year ended Sept. 30, 2025, and authorized the mayor to execute an employment agreement to hire Paul Lopez as the city’s permanent city manager.
The council approved the EDC resolution as the second and final reading, triggering a 60‑day petition window that runs after the April 26 notice period. Staff said a joint city/EDC meeting is scheduled for May 11 to consider related bond issuance and interlocal agreements with the corporation, with a tentative closing targeted for June 11. Jaime, a city staff member, summarized the schedule: "Tonight will be the second reading and the final approval," and reviewed the May 11 joint meeting and June 11 closing timeline.
Crow LLP presented the independent audit. Stephanie Harris, the auditor, told the council the audit produced unmodified opinions on both the city's financial statements and federal grant compliance and that there were no audit findings. She reported total assets of about $47.6 million and a general fund balance of roughly $2.8 million — about 44 percent of operating expenditures — calling that a “very healthy fund balance.” Harris also noted two uncorrected misstatements the auditors deemed immaterial: one related to the new GASB 101 recognition and one to prepaid expenses.
Council member Lucy Summers moved to accept the annual comprehensive financial report, the single audit and the EDC annual financial report; Chase Waterwall seconded and the motion passed unanimously.
On personnel, after a closed executive session under the provisions of the Texas Government Code, council member Lucy Summers moved and Chase Waterwall seconded authorization for the mayor to execute an employment agreement to hire Paul Lopez as city manager. The motion carried on a 7‑0 vote.
Votes at a glance: - Consent agenda (minutes, quarterly financials, three resolutions including a CenterPoint rate adjustment and annual investment/anti‑fraud policies): 7‑0 passage (moved by Chase Waterwall). - Resolution 2026‑0316‑2 (EDC project authorization, ~$2.8M): 7‑0 passage. - Acceptance of ACFR and single audit (fiscal year 2025): 7‑0 passage (moved by Lucy Summers). - HGAC representative designation (Lucy Summers as rep, Chase Waterwall alternate): 7‑0 passage. - Authorization for mayor to execute employment agreement to hire Paul Lopez as permanent city manager: 7‑0 passage.
Why it matters: the EDC authorization advances a locally led development project and preserves the timeline for bond and interlocal agreements; the audit results provide a formal external review that the city’s financial statements and grant compliance are presented fairly; the employment authorization installs a permanent city manager, ending a period of interim management.
Looking ahead: staff said the EDC/City joint meeting is planned for May 11 and the publication/petition window closes in late April; the city manager employment agreement will be executed following the formalities approved in executive session.
