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Economic-development agreements and H-E-B Center payments drive Type A expenses
Summary
Finance staff said active economic-development agreements and H-E-B Center contributions are major expense drivers for the Type A fund, with agreements forecasted at about $3.6M and H-E-B Center debt service roughly $3.2M per year through 2033; outstanding principal was reported at about $19.48M.
Solis told the board that economic-development agreements and debt service are the largest expense categories in the Type A preliminary budget. She said the agreements that are expected to affect FY2027 total approximately $3,600,000 and that the H-E-B Center contribution remains at the city's 50% share for capital repairs and maintenance.
On debt, Solis said H-E-B Center payments are expected to continue "around $3,200,000 per year through fiscal year 2033," and she reported an outstanding principal balance of about $19,480,000 as of the reporting date. Solis noted timing differences in when agreement payments hit the ledger and that staff monitors opportunities to defease or refund debt in coordination with the city's financial advisor.
