The Economic Development Corporation (EDC) of Trophy Club heard an update on the Thrive Business Grant program at its meeting, where staff said Cycle 1 is underway with four projects and one award rescinded for failure to provide required paperwork.

EDC staff told the board that four Cycle 1 projects are underway and that staff inspected one business, Jolley, and approved the work. The staff member said the business will submit receipts and finance will perform the final review before reimbursement: "They'll provide their receipts to us and then we'll send it over to finance. And finance will do the last review and make sure that we can reimburse them for their amount." The staff member added that one Cycle 1 application was rescinded after the applicant failed to provide a performance agreement by the stated deadline and may reapply for Cycle 2.

The update also covered Cycle 2 outreach. The staff member said the EDC has run a four-week banner campaign through June 9, placed notices in the town newspaper and social media, and secured a slot with Metroport's Chamber Latte event. The staff member reported direct outreach to commercial areas "by the golf course" and the "Bobcat area," and said several businesses indicated they would apply.

Board members asked procedural questions about inspections and documentation. When asked whether a written inspection record was needed, the staff member confirmed it would be documented for the record. The staff member also brought sample materials — applications, flyers, a QR code and business cards — and asked that board members distribute them to local businesses.

Next steps outlined by staff: continue Cycle 2 outreach, accept new applications, inspect work completed under Cycle 1, collect receipts, and forward reimbursements to finance. No formal vote was recorded on program changes at the meeting.

The EDC will consider any Cycle 2 applications as they arrive; applicants who missed Cycle 1 requirements were instructed to reapply for Cycle 2.