As LaredoTejas recently reported, cities throughout the Rio Grande Valley continue to fund their respective Development Foundations rather generously-especially when compared to the city of Laredo. Laredo's essentially anti-LDF trend continued last night at the city's council's meeting. The wheels were sent in motion to cut back the funding to LDF even further. Eventually, what the city manager and council want is to completely take over the money available currently for the LDF.
Councilman Vera suggested that the city look at what it would cost for the city to create their own Economic Development department. He instructed city manager Carlos Villarreall to report back with figures on how much it would cost the city to fund "an economic director and two assistants". If the current allowed funding of $270,000 is allocated to these three new positions, the breakdown might be something like: 1 Director at $110,000 a year and 2 assistants at $80,000 a year each. If these, new political positions are not created then chances are that the money will be used by the mayor and council to expand their vacation-like trips throughout the country. Even when not travelling, the mayor & council could use these thousands to wine and dine so-called prospective investors.