Lexington EDC has Accumulated $200,000
According to a report submitted to the Lexington City Council in September by the Lexington EDC, for the purpose of setting the City's 2009-2010 budget, the EDC has an estimated $200,000 in reserve for promoting economic development for the City. The EDC collected an average of $4,600 each month during their current fiscal year, representing one-half of one percent of the total sales tax collected by the City.
Last year, the EDC's income was a total of $55,774. The expenditures reflected in their report were $9,524, with $2,240 of that spent on park maintenance, $5,000 to the Lexington Community Enterprises, which oversees the Park Building, and $2,000 going to four area businesses, who were recipients of the EDC Business Incentive Grant. The four businesses who received grants from the Lexington EDC were Salon 77, 4th Street Bakery, Johnny's on the Square and Freeman Auto. These businesses received $500 each for the matching grant.
In other EDC news, they held their annual election of new officers on September 28, during their regular meeting. Elizabeth Boettcher was elected President; Alan Turner, Vice President; Candace Schneider, Treasurer and Diane Walch, Secretary. Also serving on the board are Michael Hess, Kathi Olechowski and Jordan Bexley.
Board members' terms are for two years. They are appointed by the EDC Board and approved by the Lexington City Council.
Last year's officers were Turner, President; Boettcher, Vice President; Schneider, Treasurer and Walch, Secretary.
The EDC meets every 4th Monday at the Woodson Community Building at 5:30 p.m. and the public is welcome to attend.