RES 2024-09 EDC Thrive Business GrantTOWN OF TROPHY CLUB, TEXAS
RESOLUTION NO. 2024-09
A RESOLUTION OF THE TOWN OF TROPHY CLUB, TEXAS,
APPROVING THE THRIVE BUSINESS GRANT - GUIDELINES AND
APPLICATION; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Town of Trophy Club (the "Town") is a home rule municipality
acting under its charter adopted by the electorate pursuant to Article XI, Section 5 of the
Texas Constitution and Chapter 9 of the Local Government Code; and
WHEREAS, the Trophy Club Economic Development Corporation ("EDC")
approved and recommended the Thrive Business Grant - Guidelines and Application (the
"Program") establishing appropriate guidelines and criteria for providing reimbursable
matching grants and incentives for various economic development projects in the Town
that seek to enhance the visual appeal and improve the overall competitiveness of
businesses, which will drive economic growth and community prosperity; and
WHEREAS, the Town Council finds that the Program will promote or develop new
or expanded business enterprises, and will further the objectives of the Town and EDC,
will benefit the Town and the Town's inhabitants, and will promote local economic
development and stimulate business and commercial activity in the Town; and
WHEREAS, the Town Council finds that the Program promotes economic
development in the Town, and, as such, meets the requirements of the state law and
Article III, Section 52-a of the Texas Constitution, by assisting in the development and
diversification of the economy of the State of Texas and the Town, by eliminating
unemployment or underemployment in the State of Texas and the Town, and enhancing
business and commercial activity within the State of Texas and the Town. The Town
Council sets the date of expiry on September 30, 2028.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF TROPHY CLUB, TEXAS, THAT:
SECTION 1.
The recitals above are true and correct and are incorporated into this resolution as
if fully set forth herein.
SECTION 2.
The Thrive Business Grant - Guidelines and Application, which is attached hereto
as Exhibit A is adopted as the program, guidelines, and criteria governing the Thrive
Business Grant - Guidelines and Application in the Town of Trophy Club, Texas.
Page 1
SECTION 3.
This Resolution shall be effective upon its passage.
PASSED AND APPROVED on this the 28th day of May, 2024.
ATTEST:
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--�MMaggi cCormick-Krukowski, Records Analyst
APPROVED AS TO FORM:
An
wn Attorney
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EXHIBIT A
Thrive Business Grant - Guidelines and Application
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Exhibit "A"
CFY 23--24 ■
TROPHY CLUB
Thrive Business Grant
Guidelines and Application
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Thrive Business Grant
The Thrive Business Grant (TBG) is an initiative aimed at supporting local
businesses within the Town by providing reimbursable matching grants for
various improvement projects. The program seeks to enhance the visual appeal
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and improve overall competitiveness of businesses, ultimately driving economic
growth and community prosperity.
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The Trophy Club Economic Development Corporation
(EDC) is dedicated to driving economic progress within the
Town. Its core mission is to actively foster employment
opportunities and enhance the overall well-being of the
community by spearheading, developing, facilitating, and
financing projects in accordance with the Economic
Development Act.
In 2023, the EDC Board earmarked $300,000 to kickstart the TBG . This program
is designed with the aim of fostering enhancements both externally and internally,
as well as famishing essential equipment to facilitate expansion and operational
efficiency. The overarching objective is to maintain our Small Town Charm and
stimulate customer growth within the Town.
The EDC places significant emphasis on thorough deliberation, ensuring that all
grants align with the best interests of the community, and that the projected
benefits are effectively realized.
Each applicant will be viewed on a case -by -case bases to help businesses achieve
success in Trophy Club.
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The TBO is a dynamic initiative aimed at fortifying local
businesses within the town. This program offers reimbursable
(75%) matching grants of up to $20,000 to support facade
enhancements, sign improvements, interior renovations,
equipment upgrades, and other critical investment. By
empowering businesses to make these vital improvements, the
EDC aims to bolster the Town's economic vitality, create a
more appealing business environment, and foster community
prosperity.
The program aims to facilitate well- thought-out improvements that harmoniously
incorporate essential storefront elements into a appealing identity, potentially
including provisions for establishing an accessible public entrance if necessary.
Additionally, it supports interior enhancements aimed at improving the overall
customer experience and the enhancement of existing signage or the construction
of new signage approved by the Town. While Town staff will offer guidance on
acceptable improvements, applicants are responsible for collaborating with
licensed architects and contractors to refine the conceptual design according to
the scope of work.
While the Town will review all TBG applications that align
with the eligibility criteria, it places particular emphasis on
backing projects poised to yield a substantial positive influence
on both the Town and its economic landscape.
This includes generating increased business activity, making
significant financial investments, facilitating revitalization
efforts, and ensuring the retention or expansion of existing
employers.
Eligibility Criteria:
• Eligible applicants must either be property owners or tenants
situated within the Town of Trophy Club;
• Tenants must obtain written approval from property owners
in order to participate in the program;
• Prior to participating in the program, applicants must ensure they are current
with all municipal tax obligations;
• Applicants are required to have no Town liens recorded against any property
owned by them, encompassing, but not limited to, liens for weed control,
demolition, board-up/open structure, and outstanding payments;
Eligibility Criteria:
• All applicants have to be located within Trophy Club;
• All applicants are required to adhere to both state and local laws and
regulations governing licensing, permits, building codes, and zoning
requirements;
• Excluded from consideration are government offices, residential properties,
home -based enterprises, religious organization, churches, as well as
establishments dealing in sexually -oriented or smoking paraphernalia
products;
• Applicants must demonstrate financial stability and a clear plan for the
project's completion.
Facade Improvements: Grants may be used to enhance the
exterior appearance of businesses, including;
• Improvements to an existing exterior structure,
• Improvements to public facing fa�ade(s)
• Signage
• Seating
• General building/property beautification including
landscape
Interior Renovations: Funding can be allocated for interior renovations, such as;
• Remodeling enhancements that improve the customer experience,
• General maintenance such as HVAC, plumbing, electrical, etc.
Equipment Purchases: Grants can cover the cost of purchasing new equipment
or upgrading existing machinery to increase operational efficiency and
productivity.
Signage.* Grants can cover the cost of purchasing signage off site to promote and
market the their business.
Applications must be made prior to work beginning. No grants will be awarded
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for work that has already started, in progress, or completed.
Work must begin within six months from the date of the
award.
Grant funds are paid out on a reimbursement basis once
completed work has been verified by Town staff as compliant
with the plans proposed in the approved application.
Any deviation from the approved grant project may result in the total or partial
withdrawal of the grant.
Grants are awarded as a single payment to the applicant, excluding sales tax. The
Town will not reimburse any sales tax on items purchased.
If an applicant is awarded a grant for any work performed pursuant to this
program and the work is altered for any reason within one year from the date of
construction, the applicant may be required to reimburse the Town of Trophy
Club immediately for the full amount of the grant.
Further, if a property is listed for sale and/or leased to a tenant for a purpose not
originally intended by the grant application within one year of reimbursement,
the applicant may be required to reimburse the Town of Trophy Club
immediately for the full amount of the grant.
Each TBG application will be processed in accordance with
the following standards and procedures.
One of the prerequisites is furnishing documentation
confirming the absence of any outstanding property tax
payments for the property.
Applicants undertaking projects that encompass the
refurbishment of one or more existing structures must furnish a
comprehensive plan along with quotes and cost projections for
the renovations.
Furthermore, if a project is not approved for the intended fiscal
year, the application will be retained for consideration for up to
one year.
Application Process:
is The TBG will announce specific periods when
applications will be accepted from eligible businesses.
• Interested businesses will complete and submit a application form, including
property owner written approval (if applicable) project details,
comprehensive plan, project cost, two quotes (if applicable), and a timeline
for completion.
• The EDC will review applications and may approve applications based on
eligibility criteria and alignment with program goals.
• The approved applications will then be reviewed by the Town Manager
before being submitted to the Town Council.
• The application review process will take up to 60 days.
• Selected businesses will be notified of their grant award and will receive
instructions on reimbursement procedures.
• Approved businesses will sign a performance agreement, and will 0 0 0 •
be instructed on when to begin their proposed projects and 0 0 0 0
may seek reimbursement upon completion. 0 0 00
Monitoring & Accountability
Process:
• Progress Reporting: Grantees will be required to submit regular progress
reports, including financial statements, photos, and updates on project
milestones.
• Final Inspection: Upon project completion, a final inspection will be
conducted to ensure that the work meets the program's standards.
• Reimbursement Process: Grantees will submit documentation for eligible
expenses, and reimbursement will be issued in accordance with the program's
guidelines.
• Performance Requirements: Grantees will be required to fulfill performance
requirements set forth in the performance agreement, failure to meet the
specific requirements in the agreement will mean repayment of 100% of grant
dollars received.
• The Town Council retains sole authority to approve or deny
any TBO application and is under no obligation to approve
any application.
• The Town retains the authority to reject an application while
offering suggestions for improvements that could lead to
future acceptance.
• The Town of Trophy Club has the right to terminate any
agreement under the TBO if a participant is found to be in
violation of any conditions set forth in these guidelines.
• The Town reserves the right to make adjustments regarding
conditions and parameters outlined in these guidelines.
• Prioritization is given to established businesses over those
operational for a year or less.
• The possibility exists to approve multiple projects for
businesses if additional funding remains available.
As part of the consideration for any incentives, the Town will have the right to
review and verify the applicant's financial statements and records related to the
project and the amount of any incentives that may be payable in any given year;
and conduct an on -site inspection of the project in order to verify compliance with
the terms and conditions of the TBG.
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Town of Tronhv Club
Boundary Map
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Thrive Business Grant (TBG)
Application
Applicant Name
... ....... ............
Mailing
Address
Business Name
Business Address
Contact Number
E-mail Address
Building Owner
Name
Building
Name
Project Information
Proj ect S ite/
Address
Project
Type
Project
Description
Thrive Business Grant (TBG)
Application
How will this
prof ect benefit the
community?
How will this
project benefit vour
business'
Project Cost
Project Expenditures Expenditure Total Total Grant Dollars
Requested for Expenditure
Thrive Business Grant (TBG)
Application
Total Cost of
Pro' ect
Total Grant Dollars
RequestinLy,
*25% of total cost of project is the responsibility of the applicant.
Business Information
Number of
Employees
Number of Years in
Trophy Club
Annual Revenue
Will this project create or retain jobs! Yes Ne
Please ensure that the final project scope of work, along with accompanying pictures, drawings, and
any relevant documentation, is attached. This comprehensive package will play a crucial rote in
conveying a cohesive narrative that will aid the EDC and Town staff in comprehending your vision
for the allocation of grant funds.
By signing this document, you affirm that you possess the requisite authority to seek funding for the
mentioned business, you will abide by the program guidelines, and that the information furnished is
true and accurate to the best of your knowledge.
Signature-.
Printed Name. -
Title:
Date:
P-WIO
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F tt o'?
Thrive Business Grant
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TROPHY CLUB
Please Return To.
In -Person:
Town of Trophy Club
1 Trophy Wood Drive
Trophy Club, TX 76262
Via E-mail:
thrl*ve@trophyclub-org