HEDCO spends Henderson’s economic development sales tax partly through performance agreements: contracts where it puts up money, land or site work and a business promises investment and jobs in return. We went through every HEDCO agenda, financial report and council recording we have, from October 2023 through October 2026, and found 14 of them. For most, the signed agreement is not in the public record.
Most of these deals sound like good uses of the money: a local plant expanding, a preschool keeping its teachers, new homes, a new store. The problem is that residents can’t check them. The amounts, the promises and the proof are mostly missing from the public record. Each story below lays out what is known and what HEDCO could publish to fix that.
Every agreement we found
| Recipient | What HEDCO puts in | Promised in return | Council vote |
|---|---|---|---|
| Sadler Powder Coating | $35,000 paid in 2025-26; final payment in 2027 | Jobs for 24 months | Nov. 18, 2025 |
| Bane Investment Holdings | Not stated | Keep the Railroad Commission office in town | Nov. 18, 2025 |
| Velvin Oil | Industrial park land | About $5 million; about 15 jobs at $20+ | Jan. 20, 2026 |
| Wiseman / Gifts of Grace | $50,000 a year for 3 years | New store; about $40,000 a year in sales tax | Nov. 18, 2025 |
| First Methodist Preschool | About $32,500 (half a retaining wall) | Keep 30 to 35 teachers for 5 years | Nov. 18, 2025 |
| Henderson Civic Center | $50,000 | None stated | Nov. 18, 2025 |
| Boys Baseball Association | Not stated | Not stated | Nov. 18, 2025 |
| Brasso Development | $300,000 site work plus 9 acres | About 24 homes around $250,000 to $280,000 | Nov. 18, 2025 |
| “FMC” | $35,750 paid, unbudgeted | Unknown | Not found |
| Scout Crossing | $99,000, then $44,320 unbudgeted | Unknown | Not found |
| Henderson Canvas Products | $30,000 forgivable loan (2021) | 6 jobs | Not found |
| Atwoods | 6.99 acres plus road, sewer and water work | Not public | Not found |
| Two more agreements approved by HEDCO in fall 2026 | Coming in a later story | ||
What ties them together
- The terms aren’t public. For most of these agreements, we could not find the signed contract in any public record.
- Seven in one night. The City Council approved seven agreements in a row on November 18, 2025, most after a short presentation.
- No proof of jobs. None of the records we hold shows HEDCO checking whether promised jobs or investment happened.
- Money paid without a budget. At least three agreements were paid from lines budgeted at zero in 2025-26.
Our ask
One page that would fix most of this
HEDCO could post a single public list of every active agreement: the recipient, the signed agreement, the amount committed and paid, the jobs and investment promised, and the latest verification. State law makes the City Council responsible for approving HEDCO’s programs and spending (Local Government Code 501.073), so the council could require it.
Sources: HEDCO agendas, October 2023 through July 2026; HEDCO financial reports through March 31 and August 31, 2026; HEDCO minutes printed in the September 17 and October 20, 2026 City Council packets; Henderson City Council meeting recordings for November 18, 2025, January 20, 2026 and February 17, 2026; HEDCO notice of projects for fiscal year 2025-26. Each linked story lists its own sources.