EDC board appoints officers, meets in closed session for monthly prospect, business retention reports

By LYNETTE SOWELL
Cove Leader-Press 

The Copperas Cove Economic Development Corporation board held its monthly meeting on Wednesday, during which it appointed new officers and accepted a letter of resignation from EDC board member Position 3, Harald Weldon.
Adam Martin is the new chairman of the board, with Christian Mulvey vice-chair, and Jeremy Tate to serve as secretary. 
The board approved a budget amendment to use $36,018 of its fund balance for a grant match toward the regional Defense Economic Adjustment Assistance Grant (DEAAG) Program. That amount is the calculated cost share for the Copperas Cove EDC participating in the program, with other cities and entities in the Central Texas area also participating. The board previously agreed to the cost share amount at its September meeting, and followed up to approve the budget amendment on Wednesday. The amendment passed 3-1, with board members Martin, Mulvey and Acfalle casting aye votes, and Jeremy Tate casting a nay vote. 
The board also accepted the EDC’s unaudited financial report for the month of August 2017
It also voted to release funds to the City of Copperas Cove for payroll charges of the Economic Development Department employees and various City employees for the months of August and September 2017. 
After some clarification with the EDC board’s legal representation, the board approved a shared facility agreement between the EDC and the City of Copperas Cove. This agreement states that the EDC will not pay rent for using the city council chambers in the Technology Building for its meetings. 
The board also conceded that its newest members would attend a November 3 day-long training on municipal law, hosted by the Central Texas Council of Governments in Belton. 
Prior to Farmer delivering the monthly prospect report and business retention/expansion update, EDC board chair Adam Martin requested that those reports be given in executive session. The board emerged to take no action regarding those reports. 
Of the nine active prospects on the EDC’s agenda, one is the CDL School, which is presently building its truck driving school in The Narrows. Three of the projects are slated to drop off the list as of next month, to include Project Stack, which has decided to expand in Jacksonville, Texas instead of in The Narrows; Project Apex, rendered inactive with last contact as of June 2017; a lead from a California trip in 2015 called Project Hold Up, with last contact in July 2017. 
According to the agenda information, another EDC prospect, Project Engine, is a newer prospect as of July 2017 and is currently in the process of scheduling a time to visit Copperas Cove.
One business retention/expansion prospect, Project Surf, is an existing local business that would like to expand all its operations and is interested in being located in The Narrows. This would bring a projected 20 additional jobs locally. The report item states that the company owner dropped off a revised request for assistance application in August. 
Regarding another project, the EDC is awaiting an impact analysis for a local restaurant whose owners would like to expand their business.
Also as part of the report, the business retention arm of the EDC is planning to resume holding workshops for small businesses, including monthly breakfast meetings as well as a monthly evening workshop.