Advertising & Promotion Grant

POLICIES and PROCEDURES

The Big Lake Economic Development Corporation (BLEDC) uses a ½ cent sales tax funds for its operational budget.  The BLEDC Board of Directors oversee and allocates all revenues.  This funding allows the BLEDC an 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 citizens of Big Lake, Texas.

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 are 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.  Please ask for details if you have any questions regarding the Open Information Act.  All information will be retained for a length of time as required by law.

The BLEDC Board of Directors has complete jurisdiction in all grants.  Grants of more than $10,000.00 must also be presented to the Big Lake City Council for approval.  The decision will be final in all cases.

The appropriate percentage of each individual grant or loan 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. 

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 at the board’s discretion. 

Only one (1) Advertising and Promotion Grant per business will be awarded until current grant term has ended and/or FULL COMPLIANCE has been met.  Twenty-Four (24) months must pass before a business can request an additional Advertising and Promotion Grant.  The BLEDC Board of Directors reserve the right to negate this requirement as determined on a case-by-case basis.

All grant compliance documentations are due to the Executive Director no later than the 1st. day of each month.  If the 1st day of the month falls on a weekend, City of Big Lake observed holiday, or any day that the BLEDC office is closed, then the date of reimbursement and compliance will be the next working day immediately following.  All loans and compliance documentation will be noted as past due on the 11th day of each month, regardless of holiday and/or day of week on which it falls.  Non-Compliance proceedings will be processed and enforced beginning on that date.  NO EXCEPTIONS!!

IMPORTANT:  Any application submitted without proper and requested documents will not be considered until all documentation has been received.