Economic Incentive Board Regular Meeting – September 9, 2026
Economic Incentive Board Regular Meeting – September 9, 2026
The Economic Incentive Board of Clovis, New Mexico, met on September 9, 2026, at 8:30 AM in the North Annex of the Clovis-Carver Library. The meeting included roll call, approval of previous meeting minutes, a financial report on the Economic Development Fund, and an update on ongoing CED (Community Economic Development) projects. The board discussed industrial park acreage and future site readiness applications. No public comments were made.
Consent Calendar
- Approval of Minutes: A motion to approve the minutes from the previous meeting was made and seconded. The motion passed with one abstention from a member who had been absent at the prior meeting.
Public Comments & Testimony
- No public comments were received.
Discussion Items
- Economic Development Fund Financial Report: Presented by City Manager Holwalt. Gross receipts tax revenues for August 2026 were nearly $143,000, compared to approximately $142,000 in August 2025. Year-to-date revenues reached $309,000, up from $292,000 in the same period last year. Expenditures for August 2026 were $2,600 (all for GRT fees paid to the state), compared to $12,000 in August 2025. Year-to-date expenditures totaled $6,500. The fund began the month with $8.5 million in cash and investments and ended with $8.6 million, of which $8 million was invested in the state investment pool and $600,000 in bank accounts. The city also holds a $10 million CD separate from this fund. The board accepted the report by motion, which passed unanimously.
- Update on CED Projects: Presented by economic development director Tina. Key points:
- Thanked Mr. Montragon for organizing a study session with the New Mexico Partnership and Deputy Secretary Isaac Romero.
- Industrial Park: No new updates; awaiting decisions on two site readiness funding applications for lighting, signage, and rail spur expansion. Delays due to staff changes at the state economic development department.
- Project Referrals (PROs): 13 in the last quarter; one response was sent for Project Sindel 2 (a manufacturer of energy storage systems).
- Site Location Partnership (SLP): Contracted last year; SLP attended the Automate trade show in June, generating 13 leads across various industries. The SLP CEO conducted a site visit on September 1, touring the industrial park and airport. SLP is sending emails to targeted industries (food processing, aviation, metalworking, dairy, warehousing, medical devices). One response from a wiring harness manufacturer was received; information was sent.
- Ongoing discussions with brokers and consultants for aerospace/defense projects.
- Clover Sound Studios (sound studio) progress: active on Facebook, Instagram, and TikTok.
- Events attended: ribbon cuttings, luncheons, conferences, and meetings (e.g., Chamber committees, housing meetings, Main Street festival grant application).
- Grants: Received $10,000 from Wells Fargo and $40,000 from the state. Recertified as an economic development organization for the fourth consecutive year.
- Upcoming: On October 29, co-hosting a listening session with BCT Partners for HUD’s Distress Cities Technical Assistance Program to discuss housing barriers and regulatory challenges.
- Industrial Park Acreage Update: In response to a board member’s question, City Manager Holwalt stated that First Ammonia had previously optioned the north half of the park but indicated they would not renew the option until their Victoria project is completed. The entire park is expected to become available soon.
Key Outcomes
- Approved Minutes: Motion carried with one abstention.
- Accepted Financial Report: Motion carried unanimously.
- No Other Formal Votes: No additional actions were taken on the CED project updates or other items.
- Next Meeting: Scheduled for 8:30 AM on Wednesday, December 9, 2026, at the same location.
Meeting Transcript
Exactly eight thirty. I took your paper, I don't have one. Yeah. Uh can I roll call, please? Oh, you should say it like that, though. Alan Kinlan. Yes, ma'am. Kathy Elliott. Debbie Spriggs. Here. Paul Cordova. Ricky Fuentes. Bryce Jimenez. Here. Jason Gonzalez. Here. Brian Ellis. Fantastic. We have a quorum. Can I get an approval of last meeting's minutes? That's y'all. Move to approve. Thank you. Second. All in favor say aye. Opposed, same side. I'm going to abstain because I wasn't here. Perfect. One abstention. Um, can you give us an economic development fund financial report, please, sir? Thank you, Mr. Chairman, members of the board. How that compared to August of 2026 revenues then of a 142, almost 143,000. So our gross receipts tax have uh done well so far this fiscal year and is above what it was last year. Uh year to date uh for revenues, we've earned almost 309,000 dollars as compared to 292,000 uh this time of year last year. In regards to expenditures, uh we have spent 2600 in August of 2027, and all of that was for our GRT fees that we have to pay back to the state of New Mexico, which are slowly phasing out uh thanks to the legislature. Uh that compared to 12,000 last year, and year to date, our expenditures out of the fund have been almost $6500. Um currently we have that doesn't seem right. Uh we have beginning, I'm sorry, beginning cash and investments of eight point five million dollars uh to start the month with our ending cash and investments was eight point six million dollars of that eight point six million dollars. We do have eight million dollars invested in the state investment pool, and we have six hundred thousand dollars uh cashing bank for that. And so uh the state investment pool. I want to say this last time was around four percent of what it would uh that we were earning on that. Uh we also have a 10 million dollar uh CD uh not necessarily just for this fund, but the city does for uh for our investments as part of that. So uh with that, I'm happy to answer any questions you may have, uh, Mr. Chairman members of the board. Thank you. Any questions? Seeing none. Do we need to vote on that? Yes, please.
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