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Bandera EDC opts to keep promotional funding process unchanged
Summary
Board debated aligning promotional funding with the city's application cycle or keeping a rolling/shorter intake; citing an estimated $47,000 available, the board voted to continue the current policy and review pending applications at the next meeting.
Staff and board members discussed whether to change how the EDC accepts promotional funding applications — a single end-of-year call modeled on the city or a rolling/monthly intake. Staff outlined a 90-day application and presentation model similar to the city process and said it could mirror the city's timeline.
Board members pushed back for different reasons: one member noted the EDC's available promotional balance ("we know about 47,000") and the timing of BBA funds potentially running out in March, while another argued monthly presentation is fairer to small businesses who may not plan a year in advance. After debate, a motion to continue current policies and procedures for funding applications was made and approved.
"I personally would prefer to see it presented monthly because I feel it's important to not ... serve the entire amount prior to other people having an opportunity," one board member said during discussion.
The board directed staff to bring pending applications forward at the next meeting under the existing process and to notify applicants of the schedule.
