Kerrville Economic Improvement Corporation Regular Meeting - July 20, 2026

The Economic Improvement Corporation (EIC) held its regular meeting on July 20, 2026 at 4:00 PM at City Hall. The agenda included flood recovery updates, economic development reports, financial reviews, and budget presentations for Fiscal Year 2027. The meeting also featured an executive session regarding a potential economic development project on EIC-owned property.

Consent Calendar

• Approval of Minutes (Item 3.A): Minutes from the June 15, 2026 EIC regular meeting were unanimously approved without corrections.

Public Comments & Testimony

• No members of the public addressed the EIC during the Visitors/Citizens Forum.

Discussion Items

• One-Year Anniversary of July 4, 2025 Flood & Recovery Status (Item 4.A): Assistant City Manager Michael Hornes reported on ongoing assessment and recovery from the recent July 2026 flood event, which was described as more severe in certain areas (e.g., Town Creek, Shriner Street). He noted that the city's insurance cap of $5 million per incident would likely be reached. Hornes encouraged residents to report damage to qualify for a potential federal disaster declaration. He also discussed debris management, emphasizing that private hauling is not free and that the city is coordinating with state and federal partners. The city's stormwater fee discussion was mentioned as a long-term mitigation strategy.
• Kerrville EDC (KEDC) Monthly Update (Item4.B): KEDC President Todd Bock presented a summary of operations and projects as of May31, 2026. Key projects included "Project Wolf Creek" (a local company considering a $4 million expansion), "Project SAB" (a local tech firm securing a pharmaceutical contract), "Project K2" (an employer planning expansion), and "Project Meridian" (an on-demand air service concept at the Kerrville airport). Bock also reviewed the Kerr Together recovery group's grant activity, noting that over $1 million in grants were secured for the 2025 flood. He provided an outlook for the 2026 flood, predicting far less philanthropic support than the previous year, urging cash donations to local foundations.
• EIC Project Status Update (Item4.C): Hornes gave updates on projects funded by EIC: Olympic Pool renovations (on track, minor rain delays), Granger McDonald Park (still assessing flood damage), Travis Street Pump Station (bids received, construction to start soon), and Schreiner University CTWD and Edington Gym upgrades (completed, total EIC contribution of $3 million). He also reported damage to the river trail, Guadalupe Park, and other public facilities. The departure of a city employee to Kerr Together was noted, and a replacement, Wanima Martinez, was hired and will start August3.
• June 2026 Monthly Financial Report (Item4.D): Assistant Director of Finance Trina Rodriguez presented the financials. Sales tax revenue for June was $445,758, down 6% from the prior June. Year-to-date sales tax of $3.932 million exceeded the estimate by $113,000. Interest income was $21,484 for the month. The ending cash balance was $5.27 million. The Texas Pool yield was3.8%. A $1 million commercial paper was reinvested for two years at a rate 24 basis points above the maturing note.
• KEDC Fiscal Year 2027 Budget (Item5.A): Todd Bock presented the proposed FY2027 budget, requesting a $375,000 contribution from EIC (flat from the prior year), plus $50,000 each from the county and KPUB. Total proposed expenses were $472,000, leaving a fund balance of $2,998. The budget eliminated the marketing line item to focus on business retention. Bock also proposed a 5% annual escalator on the EIC contribution to build a reserve held by EIC for future projects, but this was not incorporated into the current budget. After discussion, the board moved to approve the $375,000 contribution as presented, with the understanding that the escalator idea would be explored next year.
• EIC Fiscal Year 2027 Budget (Item5.B): Trina Rodriguez presented the EIC combined budget (quality of life bonds and operations). Proposed revenues of $5.8 million (including $460,000 in interest, and sales tax projected at 2% growth over the current estimate). Expenditures of $6.3 million include $736,000 in administrative costs, $2.5 million in debt service, and project allocations for Travis Street Pump Station, Schreiner University, Lenar’s annual payment, James Avery signal, and Quinlan Creek wastewater engineering. The budget projects a net deficit of $500,000. The board approved the budget as presented.
• Executive Session (Item6): The board convened into executive session under Section 551.072 of the Texas Government Code to discuss a potential economic development project and EIC-owned property located at 300 Peterson Farm Road (approximately 87 acres). No action was taken following the session.

Key Outcomes

• Approved: KEDC FY2027 contribution of $375,000 from EIC (motion passed unanimously).
• Approved: EIC FY2027 budget as presented (motion passed unanimously).
• Deferred: Discussion of a 5% escalator for KEDC contributions was tabled for future consideration.
• Directive: Staff will research options for using EIC funds to support small business recovery from the 2026 flood (potentially through the Lyft Fund or other programs) and bring a proposal to the next regular meeting. A special meeting may be called if needed.
• No Action: No action was taken on items discussed in executive session.