The Bandera Economic Development Corporation is moving forward with plans to develop its property at Hackberry and 2nd Street into a community park, with board members discussing walking trails, birding features and a possible pickleball court.
The property, known as Settlers Park, received three local cleanup bids ranging from approximately $5,800 to $17,100. Rather than selecting a contractor, board members spent much of the discussion debating the property's longterm purpose and whether the proposals reflected comparable scopes of work.
Board member Patricia McMullan said the board should first determine what it wants the property to become.
“I do not know what the original intent was for Settler’s Park, but if that's the direction we're going, I am about getting it done and making it a park,” McMullan said.
Former EDC board member Laura Devenport told the board the property was originally envisioned as a wildlife or nature park and was named Settlers Park.
Board member Gay Guillot, who gathered the bids, said the proposed work would primarily remove brush, dead vegetation and hazardous trees or limbs while preserving larger trees on the property.
Current EDC treasurer Nancy De Foster questioned whether the bids represented comparable work.
“Apples to apples, the last one is so expensive because they're going to get it done,” De Foster said. “But we don't really need to get it done. I mean, if it takes three weeks for this gentleman and his son to do it, and three weeks, we're way better off.”
Board member Andrea Jankoski said the cleanup should be viewed as the first step toward developing the property into a usable park. Members discussed adding birding boxes, educational displays, walking tours and information highlighting local wildlife, musicians and rodeo figures.
The board agreed to create a subcommittee consisting of McMullan, Guillot and board member Diana Walters to develop recommendations for the property's future.
Currently, the EDC's draft budget includes $7,500 for land improvements, though members discussed amending the budget or pursuing grants to support future park and recreation projects.
In other business, the EDC voted to open a new investment account with Logic, a local government investment pool administered by Hilltop Securities and JP Morgan Asset Management.
The move follows concerns raised at a previous meeting about the amount of interest being earned on EDC funds at Bandera Bank. Last month, the board approved transferring $500,000 into a TexStar account to earn a higher return Bandera Bank President Ken Finley urged the board to keep more of its money local, arguing that deposits help support loans for residents, businesses and public entities in Bandera County.
“The money you keep in Bandera stays in Bandera,” Finley said.
Jennifer Onstad, a representative for TexStar and Logic, said the investment pools are designed specifically for public entities and focus on safety, liquidity and competitive returns.
“TexStar and Logic were made for and are specifically made for public entities to invest their investable cash,” Onstad said.
Onstad told the board TexStar currently offers a yield of 3.63% while Logic offers 3.82%, with both pools designed to maintain a stable net asset value.
“They are developed to be safe. They're developed to be liquid, and they are developed to have a competitive yield for you,” she said.
Guillot suggested the EDC may eventually establish guidelines governing how much money should remain in local institutions versus outside investment accounts.
“There is no downside to it. It's another option,” Guillot said of opening the Logic account. “Get that moving, and then use our judgment and maybe pick up the strategy investment strategy.”
The board unanimously approved opening the Logic account but did not authorize transferring any additional funds at this time.
The EDC is also working to amend the application process for local businesses to receive promotional funding for events. The board decided that applications should be open from Oct. 1 through 31, with awards being made in Dec. and funding in January. Currently, the EDC has $73,500 in requests, with only $40,000 available in its budget.
The EDC is planning a special meeting to finalize the 2026-2027 budget.
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