TOWN STAFF REPORT RECOMMENDATIONS
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Roles and Responsibilities of the Westlake Development Corporation, Inc. Board of Directors.
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STAFF: Jason Alexander, AICP, CEcD, Deputy Town Manager
BACKGROUND:
Established pursuant to the provisions set forth in Chapters 501 and 505 of the Texas Local Government Code, as amended (i.e., the “Development Corporation Act”), the purpose and the function of the Westlake Development Corporation, Inc. (the “WDC”) is the “the promotion and development of new and expanded business enterprises” because “the existence, development, and expansion of business, commerce, industry, higher education, and job training are essential to the economic growth of this state and to the full employment, welfare, and prosperity of residents of this state.”
Accordingly, to fulfill its purpose and its function --- as well as to enlarge the tax base, increase employment opportunities, and elevate the quality of life for the Town of Westlake (the “Town”) --- the WDC Board of Directors must be aware of their roles and their responsibilities in accordance with the Development Corporation Act and applicable Town policies.
DISCUSSION:
N/A.
FISCAL IMPACT:
N/A.
STAFF RECOMMENDATION:
N/A.
WESTLAKE DEVELOPMENT CORPORATION ACTION / OPTIONS:
N/A.
ATTACHMENT(S):
None.