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AEDC accepts March financials, approves legal fee increase and TEDC sponsorship
Summary
At its April 21 meeting the Athens Economic Development Corporation accepted March 2026 financials, approved a Brown & Hoffmeister legal rate increase from $225 to $240 per hour, and authorized a Breakfast Sponsorship for the TEDC mid‑year conference in June.
The Athens Economic Development Corporation on April 21 accepted its March 2026 financial report, approved a legal services rate increase and authorized a conference sponsorship.
City Manager Elizabeth Borstad presented the financials, reporting March sales tax receipts of $93,461.44 (January collections) — a 3.17% increase versus March 2025 — and fiscal year‑to‑date revenues of $768,797.24 (51.94% of budget). The meeting record shows revenues for March totaled $122,619.80 and expenditures were $67,265.70; cash balances on March 31 were reported as $8,558,254.40. Elvis Allen moved (seconded by Beverly Peek) to accept the March 2026 financials and the motion carried unanimously.
Borstad next discussed the AEDC's contract with economic development legal counsel Brown & Hoffmeister, LLC and noted Jeff Moore's expertise; the board approved raising the legal hourly rate from $225 to $240 (motion by Bryan Clemmons; second by Robert Hoover). The board also approved purchasing a Breakfast Sponsorship for the Texas Economic Development Council mid‑year conference in Plano, June 17–19, 2026 (motion by Traci Wilkes; second by Elvis Allen).
The meeting included a development services report from Alan Anderson and several administrative updates from Donna Meredith about downtown property inventory, the Boot Shop — Marsha Head grant reimbursement status, and a teacher externship program starting June 1. No future agenda items were requested and the board adjourned at 10:01 a.m.
