Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Council OKs $20,000 Thrive grant for Grace Development to repair concrete, address stormwater
Summary
The Town Council approved a $20,000 Thrive Business Grant recommended by the Trophy Club Economic Development Corporation to fund concrete repairs and stormwater improvements at a shopping center owned by Grace Development. The vote was 5-2 amid debate about the EDC grant program's purpose and return on investment.
The Trophy Club Town Council voted Oct. 27 to approve a Thrive Business Grant application from Grace Development to fund repairs to concrete pavement and address stormwater issues behind a shopping center. The Town Manager and Economic Development staff said the project is roughly a $60,000–$70,000 effort and the EDC-recommended grant would be the program maximum of $20,000 under the 75/25 match structure.
Economic Development staff explained the applicant revised its proposal to include replacement and repair of the concrete drive area behind the building and correction of stormwater problems that have caused flooding for tenants. Staff said the grant program is intended to support local businesses and properties, and noted previous grants awarded in earlier rounds to other local businesses.
During the discussion, several councilmembers questioned the program's purpose and the EDC's use of sales-tax-funded incentives. One councilmember said the grant program often provides small public investments that can assist low-margin businesses like restaurants but said he opposed giving money to property owners for upkeep of an appreciating commercial asset. Supporters argued the assistance helps retain tenants and improves commercial vitality.
The council approved a resolution authorizing the town manager to negotiate and execute a performance agreement with the grantee for up to $20,000, as recommended by the Trophy Club Economic Development Corporation. The motion passed with five votes in favor and two opposed.
Staff recorded that the applicant was not present at the meeting. The action authorizes the town manager to finalize the performance agreement and execute the grant paperwork per the EDC recommendation.
