Staff Reports
The Jefferson Economic Development Corporation (JEDCO) briefly discussed how an unnamed company is being met with to discuss the possibility of building multi-family housing in the city limits.
The brief discussion, led by JEDCO vice president and secretary Raymond Sanders said he had contacted several multi-family housing builders about the possibility of building in town and that one had expressed an interest in possibly building here.
No other information was made publicly available.
Last month JEDCO approved hiring The Retail Coach to begin working on bringing additional national retailers and restaurants to the US59/Walcott corridor. According to JEDCO president Bubba Haggard, he is awaiting additional information. Sanders said they are still working on getting the database setup for Jefferson to begin working. Haggard then said the company is getting in touch with land owners to see what is available and interest in participating.
Also last month JEDCO discussed, in executive session, a grant request from an unknown individual for a possible new business. This month the application was on the action items agenda but, according to Haggard, David and Sophia Neely who submitted the application, were not ready to discuss it at this time. The item was tabled until the December JEDCO meeting.
The Jimplecute has submitted a FOIA request to JEDCO for more information.
The board adjourned into executive session to discuss “Possible Land Acquisition,” but no action was taken following their return to open session.
In other business, JEDCO approved their consent agenda consisting of the October 11 meeting minutes, and the financial statement of the corporation.
According to the financials, JEDCO began October with $122,409.72 in their 1st National Bank of Hughes Springs checking account, out of which they then spent $560 for DVRB&Z for Annexation meeting, $10,000 to The Retail Coach, and $100 to Cooner & Cooner to recalculate the “Penner Loan.” The accounted ended the month with a balance of $111,749.79.
In the Vera Bank Public Funds Account, JEDCO showed an October 1 balance of $668,255.14. They had a service charge of $12.31, earned interest of $1,142.68, and received a deposit from the City of Jefferson for $24,157.10 for sales tax. The account ended with a balance of $692,400.74.
JEDCO showed a TexPool Balance (Savings) of $59,851.65, earning interest of $149.11, for an ending balance of $60,000.76.
The TexPool Balance (Prime) account ended the month with a balance of $503,907.60.
The USDA Fund balance ended the month with a balance of $117,948.74.
Total funds on deposit for JEDCO at the end of October were $1,486,007.56.
The board will meet again at 5:30pm on December 13.
Let us not forget that they decided to have this meeting on Election Night.