Lago Vista EDC moves toward formal incorporation; members explore events and merchandise to raise seed funds

City and committee leaders outlined next steps for formally creating the Economic Development Corporation and discussed options to seed and sustain the new entity.

Council liaison Norma told the committee that incorporation paperwork has been submitted to the secretary of state and that, once formalized, the board will be composed of seven citizen members; she said she will remain the council liaison and attend meetings but will present her resignation to the board so all voting seats are held by citizens. "I will remain liaison," she said.

Members discussed creating a donations policy to allow fundraising campaigns and considered sources of seed money: charging fees or parking for city events, selling merchandise such as t-shirts and stickers, and producing one or two major annual fundraising events. One member urged pursuing "real money" through an event that could put thousands of dollars into the EDC account rather than modest merchandise sales.

The committee debated coordination with the Chamber of Commerce and property owners; the chamber’s visitor center opening and a planned New Year’s Eve celebration were highlighted as opportunities for partnership. Several members recommended consulting the city attorney and city manager about whether event revenues or parking fees could be captured by the EDC versus the general fund once the corporation is formed.

No formal vote occurred. Members asked staff to return with a donations policy draft, to clarify fund flows with the city attorney and manager, and to schedule the grant-writer presentation and future work sessions on branding and fundraising.