Economic Incentive Board Regular Meeting – September 10, 2025
Economic Incentive Board Regular Meeting – September 10, 2025
The Economic Incentive Board held a regular meeting on September 10, 2025, at 8:30 AM in the North Annex of the Clovis-Carver Library. The meeting included roll call, approval of minutes, a financial report, an update on economic development projects, and discussion under "For the Good of the Order."
Consent Calendar
- The minutes of the June 11, 2025 meeting were approved unanimously by voice vote.
Economic Development Fund Financial Report
- Justin presented the financial report. The fund has over $8 million in cash and investments: $7.2 million in investments and $810,000 in cash and bank. For the fiscal year to date, total revenue is $292,000, consisting of $237,000 in GRT, $2,000 in PILT payment, $52,000 in investment interest, and $712 in bank interest. Total expenditures year to date are $125,000, which include reimbursement to CED for GIS software, cutting of the industrial park (due to rain), and contractual obligations and payments to CED. Justin answered a question about the PILT amount, confirming it was $2,000.
Update on CED Projects
- Tina provided an update on projects. Two major projects in the industrial park are still moving forward but without a hard date. A local company will use part of the rail for transloading, and another local company leasing heavy equipment is expected to be operational within six months. There was an inquiry in the industrial park last month. Two LEDA applications are out (one for manufacturing, one for retail leader), and if received, they will be brought before the board. Retail updates: a local kiosk at the mall is moving into a store; a national store (undisclosed) is being discussed; Claire's was bought out and will stay open; Gourmet Gringo is in the mall; Marshall's is under new management planning a second grand opening. The business incubator is progressing, with a recertification submission and programming development. Tina hired Jennifer Chavez to assist. Clovis Sound Studio is held up by HVAC issues but construction is nearly complete once HVAC is fixed; no ribbon-cutting date yet. Recent events: presented on economics of small business at the base, attended change of command, Pattern Energy's backpack giveaway, hosted two quarterly business roundtables (first planning meeting, then formal meeting after Labor Day with lower attendance; topics included workforce development). Attended Canon Appreciation Day. In the last quarter, five PROs from the state included a heavy power user needing 20 megawatts within six months (which could not be provided) and industries ranging from food products to laser technology, semiconductors, fertilizer, and waste-to-energy. Additional meetings: with Clovis High School on student apprenticeship program and pitch competition with scholarships from CED (starting January); BNSF quarterly meeting; Dave Chance from Skillbridge; weekly meetings with Visios on Salesforce expansion; bi-weekly meetings with San Juan College for incubator mentoring. Active in chamber committees. Met with six prospects interested in starting local businesses. TIP strategies are at 94% completion, with a follow-up meeting scheduled. Recertified as an economic development organization, receiving $40,000. Commercial kitchen survey completed; meeting with Arrowhead Center to discuss results. Working on a business accelerator idea with Hatch Form and Main Street. A workforce readiness and entrepreneurship survey (grant-funded) will start within 30 days. Planning a new media launch with Jennifer Chavez for business testimonials. Met with board members about grant money for marketing. Upcoming: Governor's Conference on Economic Development (Sept 23-24). A board member commented that Tina and he met with a national equipment leasing company, which said the area is a high-growth region.
For the Good of the Order
- Leo invited everyone to Bank of Clovis's 25th anniversary celebration on October 17, 2025 (11 AM to 1 PM) with food trucks, water, desserts, and a band; the event will be in the bank's back parking lot due to Main Street construction. A board member praised Bank of Clovis for supporting small business entrepreneurs. Justin then provided an update on the Main Street Great Blocks program: funded by New Mexico Main Street, the project includes bulb-outs, mid-block crossings, irrigation and landscaping, relocating overhead power lines underground, installing decorative poles with lighting and audio (speaker system for music), parallel parking along curbs, angled parking in the center (replacing the two-way left-turn lane), and new striping. Construction by Nick Griego and Sons started at 7th Street going south, completing the west side then east side, then moving to the next blocks from 2nd Street south (including sidewalk replacement). Furniture was value-engineered out due to budget; Main Street will seek additional funding. Target completion for the Christmas parade, though landscaping depends on weather. Unexpected concrete was found underground. Lighting across the roadway was avoided due to high winds and parade concerns. The project is expected to change the look of the skyline. A member asked about the ability to clear the center sections for events like Drag Main; Justin noted that through lanes will remain, and angled parking can be blocked off as needed. Another board member announced he will attend the International Economic Development Conference in Detroit and he and Tina will be judges for awards at the Governor's Conference.
Key Outcomes
- The minutes of June 11, 2025, were approved unanimously.
- No formal votes were taken on other items; the meeting adjourned by motion.
Meeting Transcript
I mean it is. Did you see for the uh board? I don't understand how can you understand that much more. Vicky, you want to call roll, please. Alan Kinland. Brett Johnson. President. Raymond Mondragon. Jason Gonzalez. Tyler Lucas. Debbie Spriggs? Here. Leah Lovett. Here. Bryce Jimenez? Here. And Paul Cordova. You got a what's a quorum consist of? Okay. We can proceed. We can have our way now that all those people are gone. All right. Approval of the minutes. Does everybody had a chance to look them over? Yes, Mr. Chairman. I move for approval. Motion to approve the minutes and a second. All in favor, say aye. Aye. All against same sign. Motion passes. Thank you. Economic Development Fund Financial Report. Mr. Justin. Good morning, Mr. Chairman, members of the board. So the fund currently has a little bit over $8 million in cash and investments. We have $7.2 million in investments and another $810,000 in cash and bank. For the fiscal year to date, we've earned uh total revenue of $292,000. Uh $237,000 of that is in GRT. We had $2,000 PILT payment come in. We've earned almost $52,000 in investment interest and $712 in interest for the money that's uh for the cash that's in bank. So shows that uh having the money in investments versus earning that interest for the cash and bank is definitely paying off uh not just only for this fund but for all of our city funds as well. Um our total expenditures year to date is $125,000. Uh and that's broken down. We've uh had we've reimbursed CED for their uh GIS software. Uh we've had to cut the industrial park a couple of times this summer, obviously with all of the rain, and then we have uh obviously had our contractual obligations and made payments to CED for the those contractual obligations. And that's where our expenses have come from.
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