Thursday, February 02, 2017

Development Corporation's Three Annual Reports

City of San Angelo Development Corporation (COSADC) is required to produce an annual report according to its bylaws.  Staff produced the 2012 annual report in October 2013 and then the reports stopped.  After a three year pause the COSADC Board approved annual reports for 2013, 2014 and 2015.

The 2013 report took two years and three months to reach the COSADC board.

The 2014 report fell one day short of two years in production.  When asked about the failure to produce annual reports per the bylaws COSADC President Roland Pena offered numerous responses.  The first came in March 2015:

He wrote in August 2015:

I believe that the abstract information that you are asking about in the by-laws refers to the Corporation Capital Improvement Plan.   The COSADC Board to my knowledge has not had a Capital Improvement Plan.   It is my intention to do so upon being able to identify capital development projects.  At that point, I believe the Plan is rolled into the City's Capital Improvement Plan for review by the city council.   In addition, I do intend to produce annual reports to provide to COSADC and the City Council.
Both annual reports were in production before Pena crafted these two replies.  Why the delay?  I believe the Development Corporation did not want to publish it was suing a recipient of economic development funds for nonperformance until the matter was resolved.  The timeline below supports this theory:

No report was produced for approval until the City put to bed its legal settlement with Hirschfeld Energy for failure to meet its promises for $2.8 million in public support. City Council's 1-17-17 action on the Hirschfeld settlement opened the door for a flood of COSADC annual reports the following week.  I wonder if any City Council members will notice the delay and ask why. 

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