CDC approves funding agreement with city to use FY2027 funds for maintenance and projects

After adopting the FDCIP updates and FY2027 budget, the board considered a funding agreement that would formalize use of CDC-approved FY2027 funds by the city for maintenance operations and projects. A staff member explained the need for a formal legal instrument and said the proposed agreement would codify the funding transfer now that the budget was adopted.

As the staff member described the proposal, they said, “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.” The presenter added that the funds represented in the proposed funding agreement are already accounted for in the city’s budget and that, after board approval, the city and its staff (including Scott Christian, director of public works) will coordinate on implementation.

A board member moved that the Highland Village Community Development Corporation Board enter into the funding agreement with the city to utilize the approved FY2027 funds for maintenance operations and projects; the motion was seconded, the board voted "Aye" with no opposition recorded, and the chair stated the motion carried. Members thanked Phil for his role in presenting the item.

The agreement authorizes use of the adopted FY2027 CDC funds for maintenance and project work; staff will work with city public-works staff on project implementation and tracking under the terms of the funding agreement.