Organizations Filed Purposes:
THE ECONOMIC DEVELOPMENT CORPORATION'S PRIMARY PURPOSE IS TO ENHANCE ECONOMIC AND INDUSTRIAL ACTIVITIES FOR THE CITY OF WESLACO.ITS MOST SIGNIFICANT ACTIVITIES ARE IN PROVIDING INCENTIVES TO EXISTING BUSINESSES AND NEW BUSINESSES AND ENHANCING COMMUNITY ASSETS
ECONOMIC DEVELOPMENT IS THE PURPOSEFUL INTERVENTION BY AN ENTITY TO ENCOURAGE PRIVATE INVESTMENT IN A SPECIFIC LOCATION WHEN IT OTHERWISE MIGHT NOT HAVE BEEN MADE. THAT ENCOURAGEMENT OFTEN REPRESENTS PUBLIC ASSISTANCE WITH A FINANCIAL VALUE AND IS POPULARLY REFERRED TO AS AN INCENTIVE OR INDUCEMENT. EDC PROVIDES LOANS/ GRANTS TO VARIOUS BUSINESSES FOR CREATING OF JOBS THROUGH RECRUITING NEW INDUSTRY AND/OR EXISTING COMPANIES RELOCATING AND/OR EXPANDING.
PROPERTY MANAGEMENT - MAINTENANCE OF INDUSTRIAL PARK BUILDINGS, ROADWAYS, SIGNS AND CITY'S INFRASTRUCTURE MAINTENANCE AND LANDSCAPING, INCLUDING DEPRECIATION EXPENSE OF $105,707
GENERAL ADMINISTRATION EXPENSE $197,339INTEREST ON LONG-TERM DEBT $ 86,176 TOTAL $283,515
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Marie Mcdermott | EXECUTIVE DIR. | 40 | $97,558 |
| Steven M Valdez | DIRECTOR | 40 | $77,318 |
| Stephen Charleton Cpa | Treasurer | 1 | $0 |
| Benita Valdez | MEMBER | 0 | $0 |
| Juan Jose Serrano Jr | MEMBER | 2 | $0 |
| Richard Talbert | MEMBER | 1 | $0 |
| Cynthia Cabaza | Secretary | 1 | $0 |
| Diana Fuentes Aguilar | Vice President | 1 | $0 |
| Joe D Olivarez | President | 2 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202010599349300311_public.xml