The Stafford Economic Development Corporation re-appointed two board members and re-elected all four officers at its annual reorganization meeting Tuesday, Aug. 25, keeping the leadership of the city's $25 million-plus economic development fund unchanged.

Council member Alice Chen and Mayor Ken Mathew were re-appointed and sworn in to the seven-member board, the City of Stafford said on X on Aug. 26.

The board then re-elected its full officer slate: Randy Krahn as president, Damon Leonetti as vice president, William Bostic Jr. as secretary and Gwen Goodwin as treasurer. That same lineup has led the SEDC since at least February, according to board meeting records.

Nothing changed at the top.

The continuity matters because the SEDC controls significant public dollars funded by a dedicated sales tax. As of May 31, the corporation's combined fund balance across its general, debt service and capital project funds stood at $25,364,423, up $3.87 million from the prior fiscal year, according to the July 28 agenda packet. Year-to-date sales tax receipts through May totaled $4,736,204, a 3.02% increase over the same period in fiscal year 2024-25.

The full board now consists of Krahn, Leonetti, Bostic, Goodwin, Mathew, Chen and AJ Honore. Mathew and Chen hold city-appointed seats on the board, while the four officers are elected by the directors themselves.

The meeting was held at Stafford City Hall, 2610 South Main St. Formal minutes have not yet been posted, and vote tallies for the re-appointments and officer elections were not available as of Aug. 26.

The next regular SEDC meeting date has not yet been posted to the city's online calendar. SEDC meetings are broadcast on Comcast channel 16 and AT&T channel 99, and agendas are posted to the city's meeting portal ahead of each session.