Chamber of Commerce   Economic Development

Grants

 

BLEDC POLICIES and PROCEDURES

The Big Lake Economic Development Corporation (BLEDC) uses the ½ cent sales tax funds for its operating budget.  The Board of Directors over-see and allocated all revenues.  This funding allows the BLEDC the opportunity to offer economic incentives to businesses that wish to enhance or improve our community’s economic atmosphere and to enhance or improve the quality of life for all the citizens of Big Lake.

Because the ½ cent Sales Tax is a use of public funds, The State of Texas’ Open Meeting and Open Information laws must be observed.  This means that meetings are open to the public (unless Executive {Closed} Sessions allowed by law).  It also means that all information provided by and pertaining to your business must be subject to the Open Information Act, thus:  Any Business’ financial and/or proprietary information will be treated with confidence by the BLEDC to the extent that is possible under the law.  All information will be retained for a length of time as required by law.

The Big Lake Economic Development Corporation’s Board of Directors has the complete jurisdiction except in cases of grants more than $10,000, which must also be approved or denied by the Big Lake City Council.  The decision will be final in all cases.

The appropriate percentage of each individual grant shall be determined and set by the BLEDC Board of Directors, at the time the commitment is issued.  A risk and benefit evaluation of each application will be considered and, as a general rule, no more than 50% of a total project cost will be granted. 

Grants totaling more than $20,000 will require an agreement by the business to provide jobs for at least 5 years and will be outlined by the Performance Agreement Contract and its terms.

Grants totaling more than $10,000 or less, will require an agreement by the business to provide jobs for at least 2 ½ years and will be outlined by the Performance Agreement Contract and its terms.

Every application will be reviewed on a case-by-case basis.  A Performance Agreement Contract provides the legally binding terms.  Grant funds may be paid in phases or increments, for projects have a significantly long time-line.

Important:  Any application submitted without proper and appropriate documents will not be considered and there are no exceptions.  A failure to submit all required documents after the Performance Agreement become effective will constitute a breach of contract.

Required copies of Sales Tax Returns, Copies of TWC Reports and Copies of Payroll 941 reports MUST be submitted to the BLEDC office monthly, quarterly or yearly (depending upon the schedule in which that are filed) upon accepting the contract.

Only ONE (1) Advertising & Promotion Application per business; the definition of what constitutes the same business will be determined at the discretion of the BLEDC Board of Directors. Each business that is awarded a contract may only be given ONE (1) contract, either Grant or Advertising & Promotion at a time.  Before reapplying for another Grant or Advertising & Promotion Program the terms of the original grant and FULL compliance with all reporting requirements must be met; in the case of an Advertising & Promotion Agreement a twenty-four (24) month period must have passed.

 

Click here for application.

Click here for Advertising & Promotion grant