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Hutto EDC reduces budgeted land-sale revenue by $30.1 million after one $6.8M closing
Summary
The board approved a budget amendment that reduces budgeted land‑sale revenues by $30,108,761 after the EDC closed one land sale for about $6.8 million and determined other anticipated sales will not occur in the current fiscal year.
Assistant Finance Director Christina Bishop told the board that the adopted budget had assumed proceeds from three land sales totaling roughly $38 million. She said one sale closed for approximately $6,800,000, one sale did not materialize and one is unlikely to occur this fiscal year. "So we would like to propose a budget amendment to reduce the revenue by $30,108,761," Bishop said.
The board voted to approve resolution R‑HEDC‑2026‑041 as presented to align the budget with realized and expected land‑sale proceeds. Staff said going forward they will bring budget amendments for land sales only after closings occur so the EDC does not plan to spend revenue that may not be realized.
