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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 ($18,108.17 for interior chair/lighting and awaiting dental chair arrival), Mathnasium (two grants totaling $7,072.50 for lighting and furniture, signage pending corporate approval), Trophy Club Vision Care (equipment to treat dry eye disease; up to $20,000), and Envision Complete Fitness (has not signed a performance agreement; up to $20,000 awarded but project not started).
The EDC recommended several amendments the council approved. Key changes include: - Equipment purchased with grant funds must remain in Trophy Club. - Grants may be adjusted up to 10% to cover unforeseen cost increases (for example, price changes between quote and implementation). - For exterior work, EDC staff will perform a third pre‑approval review against town standards. - Businesses must generally submit up to three quotes; if three quotes cannot be obtained because the item or supplier is specialized, businesses must document outreach efforts and EDC/staff retain authority to approve exceptions. - Performance agreements must be signed within 60 days of award or the EDC may rescind the grant and return funds to the EDC budget. - The program timeline was clarified: with this cycle the EDC expects roughly an 18‑month process from application to completion (staff proposed starting April 15, 2025, with projects finished by October 2026 under the new timeline).
Councilmember Meredith moved to approve the resolution as amended; Councilmember Stacy seconded. After brief discussion and a request from Councilmember Meredith that the three‑quote requirement allow documented exceptions for specialized equipment (for example, dental chairs or optometry devices), the council voted to approve the resolution. The motion passed with no roll call recorded on the transcript.
EDC staff said three applicants have expressed interest for the next cycle, one of which has already applied. Staff reiterated that performance agreements are required before work may begin.
