EDC set to meet tomorrow at noon

By LYNETTE SOWELL
Cove Leader-Press 

The Copperas Cove Economic Development board of directors is set to meet tomorrow at noon, with nearly a complete slate of board members in place after the city council appointed and reappointed a total of three members last Tuesday evening. 
The five-member board will be rounded out with returning board member Adam Martin, along with newcomer Joey Acfalle. Jeremy Tate, also appointed at last Tuesday’s meeting, will start on the board when his term begins on October 1. Acfalle is filing the unexpired term of Marc Payne, who was removed by the council at a prior council meeting. 
The board will receive the monthly prospect/project update from the EDC executive director, Marc Farmer, as well as a monthly business retention/expansion report. Farmer will also provide an update on the sale and resolution of the EDC’s digital sign.  
Farmer is also bringing an agreement for the Knight Law Firm to provide the EDC with legal services. He is also requesting an extension for two current board members to attend the Basic Economic Development Course as mandated by CCEDC bylaws. 
Another item being brought to the board for a decision is a request to authorize the EDC’s participation in the regional defense economic adjustment assistance grant (DEAAG) local cost share, in the amount of $36,018. This cost share would go toward a possible $4.7 million aircraft security instrumentation project at Robert Gray Army Airfield/Killeen Airport.
The board is also requested to provide direction regarding the EDC’s present bank depository contract at Extraco Bank and the transferring of funds to the city’s current depository, National United Bank, in keeping with city council’s direction at its Sept. 27, 2016 meeting.
The city’s director of financial services is also bringing a request for the board to approve a capital asset policy for the CCEDC’s assets. According to the agenda, currently the “corporation does not have a written capital asset policy and procedures in place.”
The board will also receive the EDC’s quarterly investment reports for the quarters ending Dec. 31, 2016, March 31, 2017, and June 30, 2017, along with the EDC’s monthly financial support for July 2017. 
A request from Coryell County is coming to the board for approval, that of using the building at 201 S. 2nd St. for the November 7 election. 
The meeting will be held in the council chambers at the city’s Technology Center at 508 S. 2nd St.