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Trophy Club staff outlines $150,000 for commercial incentives, explains Thrive grants and compliance steps
Summary
Town staff told the EDC it has budgeted $150,000 for commercial incentive programs and reviewed state‑compliant options — Thrive business grants, infrastructure incentives, chapter 380/381 tax agreements and TIR(S) tools — and said staff will gather sales tax data and bring proposals back in January.
At the Nov. 20 meeting the Town of Trophy Club’s economic development staff told the EDC that the town has budgeted $150,000 to establish incentive programs for commercial properties and reviewed possible state‑compliant tools.
"We have it in the budget of a 150,000 to create some type of an incentive for our commercial properties," Speaker 1 said, summarizing staff’s recommendation to explore grant and infrastructure options. Speaker 1 described the Thrive Business Grant — authorized under local government code provisions and requiring a performance agreement and recapture clause — as an existing small‑scale tool for equipment, building improvements and job creation.
Staff also discussed infrastructure incentives for larger commercial properties, using the Shops at Trophy Club (where Speaker 1 named businesses including Benny's and Fish and Knife) as an example for drainage and street repairs. Speaker 1 reviewed tax‑related tools under Texas Local Government Code chapters 380 and 381, noting chapter 380 is more readily used by municipalities while chapter 381 can be layered with county participation when mutually beneficial.
The board asked staff to gather confidential sales‑tax and commercial activity information to identify businesses whose sales are declining and where targeted assistance could be helpful. Speaker 1 said staff will compile that data and return with proposals in January; staff also indicated the Town Council will see a related item in December.
