HEDCO’s financial reports show a $35,750 payment under a line called “FMC Performance Agreement.” We can’t find FMC named on any HEDCO agenda in the records we hold, and the line had no budget.
This story is part of our review of every performance agreement the Henderson Economic Development Corporation has made. A performance agreement is a contract: HEDCO puts up sales tax money, land or work, and a business promises something in return, usually investment and jobs. We are not suggesting anyone did anything wrong. We are asking whether the public can see what was promised and whether anyone checks.
| The deal at a glance | |
|---|---|
| Recipient | “FMC” (not identified in the records we hold) |
| HEDCO action | Not found on the HEDCO agendas we hold |
| City Council approval | Not found |
| Paid so far | $35,750 in 2025-26 |
| Budgeted | $0, with the note “will need BUDGET Amendment 25-26” |
| Agreement text public? | No |
What the record shows
HEDCO’s financial reports through March 31 and August 31, 2026 both show $35,750 paid on line 6192, “FMC Performance Agreement,” in a year when the line was budgeted at zero. The reports themselves note that a budget amendment will be needed.
That payment is part of $228,697.52 in spending on unbudgeted lines in HEDCO’s year-end report, which we covered here.
What’s missing
What the public record leaves out
- Who FMC is.
- When the agreement was signed, and when HEDCO and the council approved it.
- What FMC promised in return, and how it is checked.
- The budget amendment the report says is needed. State law makes the city responsible for HEDCO’s spending. The City Council must approve all of the corporation’s programs and expenditures (Local Government Code 501.073).
Our ask
What would make this deal easy to check
- Identify FMC and publish the agreement.
- Bring the budget amendment to the council in open session.
Sources: HEDCO financial reports through March 31, 2026 and through August 31, 2026 (line 6192), the latter printed in the October 20, 2026 City Council packet; HEDCO agendas, October 2023 through July 2026.