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Posted on January 18, 2016
Tallahassee Reports has learned that the City and County budgets for 2016 include a combined total of $411,500 in taxpayer revenue allocated to the Tallahassee Economic Development Council (EDC).
Budget documents show that the City increased the allocated amount for the EDC by approximately 48%, from $115,000 in 2015 to 174,500 in 2016.
Leon County increased their contribution to the EDC from $207,000 in 2015 to 237,000 in 2016, a 14.5% increase.
A review of the tax returns filed by the non-profit show that the EDC revenues in 2014 were approximately $900,000. This would mean that public dollars make-up about 45% of the groups revenue.
The returns also show that the EDC helps fund the activities of the Tallahassee Chamber through sharing high level employees and facilities.
For example, the President and the Vice-President of Finances for the Tallahassee Chamber hold the same titles for the EDC and collect about 40% of their salaries from the EDC.
And now that the EDC Board has voted to dissolve, what will happen to the public money? Will the money be transferred to the Chamber?
Check back for more updates.