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FEDC approves $750K spending plan for FY ’15
It now is up to the Floresville City Council to approve the Floresville Economic Development Corp.’s (FEDC) fiscal year 2015 budget. Following the FEDC’s Aug. 11 board meeting, Executive Director Tommy Baker said the corporation estimates the corporation will end the current fiscal year with $750,000 in total revenue -- a majority of which comes from the proceeds of a half-cent sales tax. The budget for the coming year is based around that figure.
New budgetary considerations for the 2015 fiscal year include $150,000 being allocated for new business development, which Baker said would be used to assist incoming firms with items such as the extension of utility lines. The FEDC also is allocating $15,000 to assist the city with maintenance and development of parks. The corporation’s $30,000 allocation for façade grants will continue for a second year.
Baker said the board anticipates $600,000 in expenses for the coming fiscal year, with a surplus of $180,000.
Baker also informed the board about the following matters:
•A recent meeting with a San Antonio man interested in renting a downtown Floresville building for use as a bakery, which would serve both retail and wholesale customers
•Two separate developers of a truck wash and an apartment complex are interested in a portion of the current Richardson Bros. Chevrolet Polaris property that will go unused after the Floresville Independent School District establishes its new bus barn.
For more about the FEDC’s Aug. 11 board meeting on this page.
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