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The Big Lake Economic Development Corporation (BLEDC) uses the 1/2 cent sales tax funds for it's operational budget. The Board of Directors oversee and allocates 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 of the citizens of Big Lake, Texas.

Because the 1/2 cent sales tax is a use of public funds, the State of Texas' Open Meeting and Public 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 Public Information Act, thus: Any business's 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 Public Information Act. All information will be retained for a length of time as required by law.

The BLEDC Board of Directors has the complete jurisdiction in all grants. Grants of more that $10,000 must also be approved or denied by the City Council of Big Lake, Texas. This 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. Grants totaling more that $20,000 will require an agreement by the business to provide jobs for a minimum of (5) years and will be outlined by the Performance Agreement Contract and its' terms. Grants totaling $10,000 or less will require an agreement by the business to provide jobs for a minimum of (2) years as outlined by the Performance Agreement Contract and its' terms.

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

Only one (1) Advertising & Promotion grant 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 funding may only be given one (1) contract, either Performance Grant or Advertising & Promotion Grant at a time. Before reapplying for another grant, the terms of the original grant and FULL COMPLIANCE with all reporting requirements must be met. In the case of an Advertising & Promotion Grant, a twenty-four (24) month period must have passed.

IMPORTANT: Any application submitted without proper and appropriate documents will not be considered and there will be no exceptions.

The amount of funds awarded/approved or denied may be affected by your business plan. The BLEDC strongly urges you to create your own well thought and well-designed business plan. Furthermore, the BLEDC may require you to seek assistance from your nearest local Small Business Development Center. If you have any questions or need further information, you are urged to contact the BLEDC staff for assistance.

In order for your application to be considered by the BLEDC Board of Directors, and to schedule a presentation by you and/or your representatives, the completed application and all required documentation must be received by the Executive Director no later than 12:00 noon on the last Friday before the meeting.

The process generally takes 90 days or more from presentation to disbursement.

GRANT/LOAN PROCESS

Typical scenario for timeline: 

1. You make the formal request by completing and returning a grant application;

• Pursuant to Texas Local Government Code, Sec. 505.160 a public notice is posted and published in the newspaper advising of a Public Hearing and 60 day comment period on the use of Type B funds with intent to grant sales tax funds and to whom.

• Executive Director will review application for thoroughness and meet with you to discuss details of grant request and advise of any additional documentation required or requested;

• You will be added to agenda for next regularly scheduled board meeting (see #2) for presentation to Board of Directors.

2. Next regularly scheduled board meeting:

• You will prepare and present a detailed presentation to the BLEDC Board of Directors indicating what type of grant/loan you are requesting, how much you are requesting, and how the money will be used to benefit the economy of Big Lake;

• You will be prepared to answer questions from the Board of Directors and explain in further detail if requested from any board member;

• Board will discuss the grant/loan request and provide staff with directives and additional information needed prior to next following board meeting;

• As a general rule, no decision will be made at this meeting.

3. Next following regularly scheduled board meeting:

• You may attend the board meeting, however, it is generally not required unless requested;

• Executive Director will present, on your behalf, any additional requested paperwork or documentation;  Executive Director will provide any additional information obtained since last meeting;

• Board or Directors may or may not make a decision; 

• if no decision is made, Board of Directors will provide staff with directives and additional information needed prior to next following board meeting;

• if approved decision is made, Board of Directors will determine the amount approved, terms, and length of agreement. (see #4)

• if approval is denied, no additional action will be taken and staff will contact you either by phone, in person, or by correspondence, or a combination of any  of the above, on the next scheduled business work day.

4. If approved amount is equal to or greater than ten thousand dollars ($10,000.00), Executive Director will submit a Resolution to be read at the next regularly scheduled City Council meeting;

• City Council will vote to approve or deny Resolution;

• If denied, no additional action will be taken and staff will contact you either by phone, in person, or by correspondence, or a combination of any  of the above, on the next scheduled business work day;

• If approved, no further action will be taken until 2nd reading at the next regularly scheduled City Council meeting.

5. Next regularly scheduled City Council meeting:

• a 2nd reading of the Resolution will be presented;

• City Council will vote to adopt the Resolution.

6. Any awarded monies can be disbursed after this and 60 days public notice date and subject to terms and agreements as set forth by the Big Lake EDC Board of Directors.