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Trophy Club EDC approves FY2026 budget, cuts Thrive business grant to $150,000; staff updates on grant reimbursements
Summary
The Trophy Club Economic Development Corporation approved its FY2026 budget with no revenue change and a reduced Thrive Business Grant allocation of $150,000. Staff updated the board on grant inspections, reimbursements and a rescinded award for missing paperwork.
The Trophy Club Economic Development Corporation voted to approve its fiscal year 2026 budget and discussed ongoing activity in the Thrive Business Grant program during a meeting in which Joseph Longo presided as chair.
The adopted budget showed no change to projected revenues, which remained listed at $776,250, while the expenditure side was adjusted to reduce the Thrive Business Grant award to $150,000. Board members approved the budget by voice vote.
The budget change matters because the Thrive Business Grant is the largest discretionary economic incentive item the EDC cited during the meeting; staff said the reduction reflects an additional year in the grant cycle. Tamara, an EDC staff member, told the board the only change to revenues was none and explained the lowered grant allocation when presenting the item for approval.
Following the budget vote, Tamara updated the board on two grant cycles. She said projects with approved inspections and vendor packets already submitted include Trophy Club Vision Care and Fish and Knife; those businesses are “looking to be reimbursed within the next week or two,” she said. Tamara also confirmed Jolley’s reimbursement for cycle one is complete.
Tamara reported that Grama Development received a reinspection after inspectors found roughly half of its project unfinished; she said she will return once the company notifies staff that work is complete. She described Grama Development as an out-of-state company with its main business in Trophy Club and said the outstanding work included exterior painting, power washing and parking-lot restriping.
Tamara told the board that the Envision award was rescinded a few months earlier because the company did not submit a required performance agreement. She said the EDC had not documented before-and-after photos as part of inspections but that staff can add photographs to inspection packets going forward if the board wants that documentation.
The meeting record shows the board handled routine minutes approval and other procedural motions before the substantive budget and grant-discussion items. The session ended when the presiding chair adjourned the meeting at 7:06 p.m.
The board did not receive any public comments during the meeting.
