Fulshear EDC approves minutes, pays $16,224.47 and outlines budget timeline

The Fulshear Economic Development Corporation on April 13 unanimously approved draft minutes from its March 9 and March 30 meetings and approved a payable to the city in the amount of $16,224.47.

At the start of the meeting staff presented sales tax remittance figures and cash-position data. "They were down 12% from the same period the previous year, totaling $164,107.45," a staff member said when describing March remittances (noting those were January remittances reported in March). Staff also reported cumulative EDC revenues in packet figures and said the EDC had recorded $930,798.10, about 39.6% of the budget year complete, and board members asked staff to provide a clearer waterfall-style breakdown showing total funds, encumbrances and net available balance.

Staff outlined the upcoming budget calendar: midyear budget reports and the ASA will be presented in May for board review, a draft FY26 budget and draft ASA will be returned in June for edits, and the final budget is expected for board/council approval in July. The staff report also included the ICSC Red River market summary for retail prospects (staff warned redactions reflect retailers' requests) and a reminder that board and commission reappointment applications are due April 17.

An executive session to discuss the purchase/exchange/lease/value of EDC-owned real property on FM 1093 in Fulshear was held under the Texas Open Meetings Act; the board returned from executive session and the chair said no action resulted from that closed session. The meeting adjourned at 7:34 p.m.