Title
Consider a memorandum/resolution amending the Fiscal Year 2026 agreement with the Killeen Economic Development Corporation to provide economic development services, in the amount of $215,000.00.
Body
DATE: May 5, 2026
TO: Kent Cagle, City Manager
FROM: Wallis Meshier, Executive Director of Development Services
SUBJECT: Amendment to the Killeen Economic Development Corporation Agreement
BACKGROUND AND FINDINGS:
The City of Killeen entered into an agreement with the Killeen Economic Development Corporation (KEDC) on November 30, 1990, to provide economic development services. Since that time, the City has maintained this partnership through ongoing collaboration and annual appropriations to support KEDC’s efforts.
On December 10, 2024, the Killeen City Council approved a two-year agreement for Fiscal Year (FY) 2025 and FY 2026, with an annual appropriation of $885,000.00 per FY.
On April 21, 2026, the Killeen City Council approved an increase to the FY 2026 appropriation in the amount of $215,000.00. This adjustment brings the total FY 2026 appropriation to $1,100,000.00.
This continued investment supports the City’s long-standing commitment to economic development and partnership with KEDC.
THE ALTERNATIVES CONSIDERED:
N/A
Which alternative is recommended? Why?
N/A
CONFORMITY TO CITY POLICY:
Yes
FINANCIAL IMPACT:
What is the amount of the revenue/expenditure in the current fiscal year? For future years?
The item will increase the expenditure by $215,000.00 in FY 2026, for a total $1,100,000.00.
Is this a one-time or recurring revenue/expenditure?
This increase of $215,000.00 is one-time.
Is this revenue/expenditure budgeted?
Yes
If not, where will the money come from?
N/A
Is there a sufficient amount in the budgeted line-item for this revenue/expenditure?
Yes, sufficient funds are budgeted in General Fund account number 100-55116-700-705-000000.
RECOMMENDATION:
Staff recommends that the Killeen City Council approve the contract amendment with KEDC in the amount of $885,000.00 and authorize the City Manager, or designee, to execute same.
DEPARTMENTAL CLEARANCES:
Finance
Legal
ATTACHED SUPPORTING DOCUMENTS:
Amendment
Agreement
Amended Budget
Presentation