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Van Alstyne approves downtown grants, CDC/EDC budgets and economic incentives
Summary
Council approved several community development performance agreements and budget amendments, including a $45,000 incentive for Myth and Ember Coffee House and CDC budget increases to support downtown grants; approvals were unanimous.
Council members unanimously approved multiple items related to the City’s economic development corporations (EDC/CDC) including performance agreements and budget amendments.
Key approvals included: • A performance agreement authorizing the Van Alstyne Community Development Corporation to expend up to $45,000 to support improvements at 233 E. Marshall Street for Myth and Ember Coffee House; the business plans to invest over $200,000 and the grease trap alone is estimated at about $50,000. • Further CDC/EDC budget amendments and adoption of FY2027 budgets for both corporations, with the CDC increasing grant funding to support downtown improvements and a tiered grant program under development.
Staff and board context
The CDC director said the board approved a larger grant program this year and is creating a tiered system to simplify awards from small sign grants to larger facade/rehab projects. Performance agreements include clawback provisions tied to occupancy or investment thresholds (for example, a five‑year occupancy requirement for a larger CDC award). Council approved the adjustments by voice vote and acknowledged the downtown’s recent growth and private investment.
What’s next
Staff will implement the revised grant framework and process, bring performance agreements into effect with required documentation and monitor clawback conditions where specified.
