De Kalb, TEXAS (KTAL/KMSS) – On Saturday, voters passed an economic development initiative 55 to 5.
Residents decided to change the rules of how the city’s economic development money can be spent. “It was originally started to bring industry in, but we don’t have the water capacity to supply any industry, so these funds have been building up and we can’t legally use them,” said De Kalb Mayor Lowell Walker.
Walker added that the fund, where a third of the city’s sales tax revenue is placed, currently stands at about a million dollars. “I’d like to use it to assist with infrastructure, I’d like to use it to bring in retail businesses,” Walker said.