Princeton's economic and community development corporations would give their chief executive authority to sign check requests for expenses under $10,000 under bylaw changes the boards take up at a joint meeting Tuesday, Oct. 20.
The Economic Development Corporation and the Community Development Corporation are meeting together at 6 p.m. in council chambers at the Princeton Municipal Center, 2000 E. Princeton Drive. Each board canceled its own regular October meeting, which had been set for Oct. 20 for the EDC and Oct. 21 for the CDC, according to notices the city posted.
What the bylaw rewrite would do
Both boards' bylaws were last amended in April 2025, and board members asked for a fresh review, according to memos from Alternate City Manager David Hall in the agenda packet posted Wednesday. The memos list the same set of substantive changes for each corporation:
- The CEO could sign check requests and similar payment documents when the spending comes to less than $10,000.
- New language would spell out how the corporations spend money.
- The CEO could sign documents and represent the board at public events when the chair delegates that role.
- Meeting-location rules would be loosened to give the boards more flexibility in scheduling.
- Board members could be notified of meetings by email.
- Officer elections would be held every year, with the treasurer and secretary chosen at the February election, and officers could be elected at other times if needed.
- Staff titles would be written more generally to allow for future staffing changes.
The CDC's version also adds "budget management" to its CEO's list of duties. Neither memo lists a financial impact or a staff recommendation, and the packet includes the current bylaws rather than a marked-up draft of the new ones.
Closed-door talks on Harvest Point
The agenda also lists an executive session on "Harvest Point" under the section of state open meetings law that covers economic development negotiations. The agenda gives no other details about the project. A separate item follows for any action resulting from the closed session.
