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Council amends Thrive Business Grant program; allows limited flexibility for specialized equipment
Summary
Council approved changes to the Thrive Business Grant program, including a 10% contingency for unforeseen cost increases, a requirement for up to three quotes with an allowance for exceptions for specialized equipment, and a timeline and rescission clause if performance agreements are not signed within 60 days.
The Trophy Club Town Council approved amendments to the Thrive Business Grant program after an Economic Development Corporation (EDC) presentation and a brief council discussion.
EDC staff described results from cycle one and proposed policy changes to improve oversight and transparency. Staff said performance agreements for cycle one were signed beginning in January 2025, allowing grantees to start projects, and that project completion is expected by December 31, 2025. The EDC presented updates on individual grantees: Fish and Knife (equipment ordered; $19,200 grant), Grace Development (exterior painting; up to $20,000), Jolley Orthodontics…
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