Tag: grant program

LEDC Grant Numbers Don’t Add Up. Is Grant Program Even Legal??

As usual with the LEDC, the rules, regulations, mission statements and math never seem to add up.

Recently, Mandy Walsh told us that the LEDC would be giving out “grants” (free money) to local businesses who were closed down because of the Wuhan virus. She claims they are able to do this by “authority of the EDC under Sec. 505.103, Texas Local Government Code” [page 5].

Great. So if you go LOOK UP Section 505.103 in the Texas Local Government Code, you get this:

“A Type B corporation may spend not more than 10 percent of the corporate revenues for promotional purposes.”

That is literally all it says. OK – fine.

Unfortunately, Mandy has said this program will hand out $100,000 in free money, presumably for “promotional purposes” since that is what Sec 505.103 says. The LEDC “corporate revenues” (sales taxes they skim from the citizens) are roughly $300,000 (according to their last available Form 990 Part VIII Section 12 = $309,746)

By my math, 10% of $309,746 is $30,974 NOT $100,000.

So, what say you Jo-Christy Brown?? Is this legal or what?? Sure doesn’t look like it. But I’m not a high-priced City attorney either….just a tax cow to be milked.

LEDC Trying To Buy Your Love and Distract From Millions Wasted Elsewhere

The LEDC is clearly trying to improve their image by handing out up to $100,000 in grants (free money) to local businesses hurt by the Wuhan virus forced closings. They will do this in chunks of up to a $3,000 maximum per business. You can see the details HERE [page 4 and 5].

It makes sense that they do this. After all, it would look pretty awful for Mandy Walsh to cost the taxpayers her usual $101,285 in salary [page 82] and benefits as LEDC ‘Director’ for doing nothing while the peons who pay her salary are suffering. The LEDC skims about $300,000 a year in sales taxes to play with on their pet projects….so I guess they figure they better throw a few crumbs to the unwashed masses. Otherwise, people might start taking notice of their mammoth waste.

Roughly $4 MILLION tax dollars skimmed in 18 years (2019 estimate at $300,000)

So, between the LEDC skim of $300,000 PLUS Mandy’s salary/benefits of over $101,000 PLUS all the ridiculous conventions she goes to (like the TML nonsense) – we are approaching maybe $420,000 PER YEAR being squandered.

Now, as much as I prefer some actual taxpayers getting a sliver of their taxes handed back to them, I would MUCH prefer the LEDC didn’t exist in the first place. They have wasted MILLIONS upon MILLIONS of dollars over the years with pretty much nothing to show for it.

So NOW they are going to assemble a special blue-ribbon panel (see video below) to decide who gets some $1000 or $3000 bones thrown to them. Who comprises this august group which will decide who gets some candy? Well, a lot of the same names you hear all the time: TJ Monroe (LOL)…Finley deGraffenreid…Mandy Walsh…Misti Talbert.

I picture something like this – from Revenge of the Nerds. The nerds are the poor business owners groveling to TJ and Mandy for some crumbs. Mandy Walsh is Stan Gable laughing at you saps! Kneel gentlemen!!