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Cove EDC Approves Budget

Members of the Copperas Cove Economic Development Corporation board have voted to approve a nearly $5.4 million budget for the 2013-14 fiscal year.

The budget proposed operating expenses of roughly $1.2 million and capital projects of $4.2 million. Revenue is estimated at $1.7 million, with $1.25 million in sales tax, representing a conservative $10,000 increase in sales tax revenue.

The corporation’s reserve funds will cover the difference between revenue and expenses.

Items included in the budget are $1.9 million to construct the Narrows Business and Technology Park subdivision, $2.2 million for a future land swap with Fort Hood, $43,000 for lease and utilities of a building to become a business incubator, and $100,000 for renovations to the EDC offices.

The budget will be pitched to Copperas Cove City Council on Tuesday.

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