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Highland Village CDC approves funding agreement with city to use FY2027 funds for maintenance and projects
Summary
The board voted to enter a funding agreement with the City of Highland Village allowing approved FY2027 CDC funds to be used for maintenance and operations of city trails, soccer fields and related projects; staff said the funds are already accounted for in the city's budget.
After adopting the FDCIP update and FY2027 budget, the Highland Village Community Development Corporation considered a recommended funding agreement with the City of Highland Village to authorize use of the adopted funds for maintenance, operations and projects.
Phil, a staff member who presented the item, told the board the legal instrument is necessary "so the board must enter into a funding agreement with the city to allow the funds to be used for maintenance and operation of city trails and soccer fields as well as for projects." He added that the funds in the proposed agreement "are accounted for in the city's budget, which Heather just, presented and you guys, adopted." Phil said the recommendation was for the CDC board to enter into the funding agreement with the city to utilize the approved FY2027 budget funds for maintenance operations and projects.
A board member moved that the Highland Village Community Development Corporation board enter into the funding agreement with the city; another board member seconded. The Chair called for a voice vote and the motion carried.
