EDC 4B

PRINT - Development Corporation.jpg

Members

EDC 4B Armando Garza
EDC 4B Andres Morales
EDC 4B Vice Chair Hector Juarez
EDC 4B Chair Sigifredo Flores
EDC 4B Alex Guajardo
EDC 4B JesusAvendano Jr.

2012-2013 Budget*
Income (Transfer from City Sales Tax)
Sales Tax / Total Income
$95,000.00

Expenses

Administrative Expense $12,000.00
Travel / Training $4,500.00
Debt Service / Loan Payment $23,200.00
Contract Labor $12,000.00
Promotion $7,500.00
Sponsorship $5,000.00
Supplies $900.00
Contingency $29,900.00
Total Expenses $95,000.00

*This budget was approved by the Development Corporation at a meeting on Aug. 6, 2012 and recommended to the Peñitas City Commission which approved the budget as submitted on Sept. 18, 2012 at a Special Called Meeting at which a quorum was present.

Type A & B Economic Development Corporations Overview
The Development Corporation Act of 1979 gives cities the ability to finance new and expanded business enterprises in their local communities through economic development corporations (EDCs). Chapter 501, 504, and 505 of the Local Government Code outline the characteristics of Type A and Type B EDCs, authorize cities to adopt a sales tax to fund the corporations and define projects EDCs are allowed to undertake.

For businesses interested in learning more about Penitas information and demographics, visit the Interactive Map.

You can also learn more at City of Penitas, TX - Community Retail Dashboard .