6.c.
TCEDC Agenda
- Meeting Date:
- 10/04/2023
- Title:
- establishing a Business Incentive Grant (BIG) Program for businesses located within limits of Texas City, TX
- Submitted For:
- Kristin Edwards
- Submitted By:
- Kristin Edwards, Economic Development
- Department:
- Economic Development
ACTION REQUEST (Brief Summary)
Discussion and possible action on Resolution 2023-24, establishing a Business Incentive Grant (BIG) Program for new or existing businesses located within the City limits of Texas City, Texas.
BACKGROUND
The Texas City Economic Development Corporation allocates funds each fiscal year to support business incentives.
Effective upon EDC approval, staff is proposing a Business Incentive Grant (BIG) Program to provide existing businesses within the City of Texas City with up to $15,000 in grant assistance.
Specifically, grants will be available at two levels: Tier 1 (with a maximum of $5,000 in assistance) and Tier 2 (with a maximum of $15,000 in assistance).
The following is not an exhaustive list, but provides examples of Tier 1 and Tier 2 Improvements.
Eligibility: To be eligible for a BIG allocation, businesses must provide proof of operation of at least one (1) year, demonstrate the need for assistance, and meet other requirements as detailed on the BIG Program application form. Eligible businesses must be located within the City limits of Texas City, must be located in a non-residential zone, and must be current on all taxes. Further, businesses may not be subject to any liens held by the City, may not be in violation of any provisions of the Texas City Code of Ordinances, and may not have received a grant from the City of Texas City within the previous 12 months.
Staff is proposing that BIG Grants be issued in an amount not to exceed $50,000 per fiscal year.
This incentive program would complement the existing efforts of the EDC to bolster economic development in the City of Texas City. The addition of this program would not negatively impact or change the proposed FY24 budget previously reviewed by the EDC.
Effective upon EDC approval, staff is proposing a Business Incentive Grant (BIG) Program to provide existing businesses within the City of Texas City with up to $15,000 in grant assistance.
Specifically, grants will be available at two levels: Tier 1 (with a maximum of $5,000 in assistance) and Tier 2 (with a maximum of $15,000 in assistance).
The following is not an exhaustive list, but provides examples of Tier 1 and Tier 2 Improvements.
| Tier 1 Improvement examples | Tier 2 Improvement examples |
| Interior Lighting | Landscaping (Shrubs/trees, Irrigation) |
| Pedestrian (Exterior) Lighting | Fencing |
| Accent (Exterior) Lighting | Parking/Driveway reconstruction/resurfacing |
| Paving/Pavers | Demolition |
| Seating Areas | Code Compliance (City/IBC/Energy) |
| Awning/shade structures | Fire Suppression Systems |
| Trash Receptacles | Exterior/Façade Materials |
Eligibility: To be eligible for a BIG allocation, businesses must provide proof of operation of at least one (1) year, demonstrate the need for assistance, and meet other requirements as detailed on the BIG Program application form. Eligible businesses must be located within the City limits of Texas City, must be located in a non-residential zone, and must be current on all taxes. Further, businesses may not be subject to any liens held by the City, may not be in violation of any provisions of the Texas City Code of Ordinances, and may not have received a grant from the City of Texas City within the previous 12 months.
Staff is proposing that BIG Grants be issued in an amount not to exceed $50,000 per fiscal year.
This incentive program would complement the existing efforts of the EDC to bolster economic development in the City of Texas City. The addition of this program would not negatively impact or change the proposed FY24 budget previously reviewed by the EDC.
ANALYSIS
Approve Resolution 2023-24, establishing a Business Incentive Grant (BIG) Program for new or existing businesses located within the City limits of Texas City, Texas.