EDC to receive monthly prospect, business retention reports

By LYNETTE SOWELL

Cove Leader-Press

The Copperas Cove Economic Development Corporation board will hold its meeting for the month of October on Wednesday at noon in the city council chambers at the technology center located at 508 S. 2nd St.

At the top of the action items for the agenda is a letter of resignation from EDC board member Position 3, Harald Weldon, effective October 18. Along with that is another agenda item to appoint officers for the EDC’s board of directors.

A budget amendment is up for a decision by the board on Wednesday, that of approving the expenditure increase of $36,018 for a grant match toward the regional  Defense Economic Adjustment Assistance Grant (DEAAG) Program. This is the calculated cost share for the Copperas Cove EDC participating in the program, along with other cities and entities in the Central Texas area.

The board will also receive the EDC’s unaudited financial report for August 2017, and will be asked to render a decision on authorizing the release of funds to the City of Copperas Cove for payroll charges of the Economic Development Department employees and various City employees for August and September 2017.

A shared facility agreement is also being brought to the board. The agreement is between the EDC and the City of Copperas Cove, and would ensure that the EDC will not pay any rent in whichever building it is located in, “in perpetuity.”

The EDC’s executive director, Marc Farmer, is bringing a training opportunity to board members, that of attending a November 3 day-long training on municipal law, hosted by the Central Texas Council of Governments in Belton.

Farmer will also deliver the monthly prospect report and give a business retention/expansion update to the board.

An executive session will be held during the meeting, for both deliberation regarding economic development negotiation for one of the EDC’s projects, as well as “to deliberate the appointment, employment, evaluation, reassignment, duties, discipline, or dismissal of a public officer or employee,” specifically, EDC director Marc Farmer.  

As with other public meetings held by city boards or committees, the EDC meeting also has a time of citizens’ forum.