Bastrop Economic Development Corporation - July 27, 2026

The Bastrop Economic Development Corporation (BEDC) held a meeting on July 27, 2026, focusing primarily on budget approval and economic development projects. The board reviewed and approved the fiscal year 2026-27 budget, noting modest increases including a $60,000 rise in sales tax revenue and a 3.5% cost of living adjustment, with no capital expenses programmed. They discussed rental income from a property and debt service payments related to prior borrowing. The board also held a public hearing and approved a $25,000 professional services agreement with Career Tracks to support workforce training initiatives, including specific job placement and wage metrics. Additionally, the board considered and approved an amendment to a funding agreement related to the purchase and leasing of property at 804 Water Street, clarifying terms to ensure the BEDC would be reimbursed the actual funds dispersed for the property purchase upon sale or disposition, while allowing the city to lease the property during the term. The meeting concluded with an executive session on economic development negotiations and adjournment.