EDC Resolution 2025-01 Thrive Business Grant TOWN OF TROPHY CLUB, TEXAS
ECONOMIC DEVELOPMENT CORPORATION
RESOLUTION NO. EDC 2025-01
A RESOLUTION OF THE ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS OF THE TOWN OF TROPHY CLUB, TEXAS,
APPROVING AMENDMENTS TO THE THRIVE BUSINESS GRANT
PROGRAM; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Trophy Club Economic Development Corporation is a
governmental nonprofit Corporation organized under Title 12, Subtitle C1, and Ch. 505
of the Texas Local Government Code; and
WHEREAS, the Trophy Club Economic Development Corporation ("EDC')
approved the Thrive Business Grant Program (the "Program"), establishing guidelines for
reimbursable matching grants to enhance the visual appeal, competitiveness, and
economic growth of businesses in the Town; and
WHEREAS, the Town Council of the Town of Trophy Club adopted the Program
on May 28, 2024, through Resolution 2024-09, to support new or expanded business
enterprises, benefiting the Town, its residents, and local economic development; and
WHEREAS, the EDC finds that the Program aligns with state law and Article III,
Section 52-a of the Texas Constitution by fostering economic diversification, reducing
unemployment, and enhancing business activity in the State of Texas and the Town; and
WHEREAS, the EDC Board of Directors desires to amend the Program to include
additional requirements, monitoring, accountability, and timelines.
NOW, THEREFORE, BE IT RESOLVED BY THE ECONOMIC DEVELOPMENT
CORPORATION BOARD OF DIRECTORS OF THE TOWN OF TROPHY CLUB,
TEXAS, THAT:
SECTION 1.
The recitals and findings above are true and correct and are incorporated into this
Resolution as if fully set forth herein.
SECTION 2.
The Thrive Business Grant Program is hereby amended and replaced in its entirety
with the Thrive Business Grant Program attached hereto as Exhibit A, which is
incorporated into this Resolution as if fully set forth herein, and the Board recommends
approval of the Program by the Town Council of the Town of Trophy Club, Texas.
RESOLUTION NO. EDC 2025-01 PAGE 2
SECTION 3.
This Resolution shall be effective upon its passage.
PASSED AND APPROVED by the Board of Directors of the Trophy Club Economic
Development Corporation on this 3rd day of April 2025.
President
ATTEST:
A(1 it Jb (/)/ )
Secretary
RESOLUTION NO. EDC 2025-01 PAGE 3
EXHIBIT A
lawiminCI FY 24-25 •
TROPHY CLUB
Thrive Business rant
Guidelines and Application
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Thrive Business Grant
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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
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 furnishing 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 TBG is a dynamic initiative aimed at fortifying local
0 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 investments. 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.
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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.
E� This includes generating increased business activity, making
significant financial investments, facilitating revitalization
U efforts, and ensuring the retention or expansion of existing
employers.
Gq 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;
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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; and
• Applicants must demonstrate financial stability and a clear plan for the
project's completion.
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= Facade Improvements: Grants may be used to enhance the
(. exterior appearance of businesses, including;
W • Improvements to an existing exterior structure,
W • Improvements to public facing facade(s)
• Signage
• Seating, and
• 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 their business.
Applications must be made prior to work beginning. No grants will be awarded
for work that has already started, in progress, or completed.
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Work must begin within six months from the date of the
0 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.
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Any equipment purchased using grant fiends must remain
within the Town of Trophy Club for the entire operational
lifespan of the business.
The agreed-upon price or grant amount may be adjusted by up
to 10% to account for unforeseen circumstances or price
W fluctuations, with a maximum grant amount of$20,000.
All exterior work, including but not limited to painting
(including color selections), building additions, and any
Pei changes to the exterior appearance, must be submitted to the
Town of Trophy Club for approval before implementation.
Businesses must obtain and submit a minimum of three
quotes:
• One quote from a local business (a business with a
registered address in Trophy Club or owned by a Trophy
Club resident).
• Two additional quotes from other vendors.
If a local quote cannot be obtained, the business must document the efforts made
to secure one, including the steps taken and reasons for being unable to acquire it.
The EDC Board will consider this effort in its evaluation.
The grant does not reimburse international shipping or customs fees for items
purchased overseas. These costs must be covered by the business owner.
Additionally, shipping costs must be itemized on the submitted quote.
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Each TBG application will be processed in accordance with
the following standards and procedures.
Cl One of the prerequisites is furnishing documentation
confirming the absence of any outstanding property tax
payments for the property.
P-+ Applicants undertaking projects that encompass the
Z 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:
• 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, three 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 • • • •
be instructed on when to begin their proposed projects and • • • •
may seek reimbursement upon completion. • • • •
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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. If the performance agreement is not signed within 60 days of receipt,
the grant will be rescinded, and you will need to reapply in the next grant cycle.
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z • The Town Council retains sole authority to approve or deny
O any TBG application and is under no obligation to approve
Nany application.
• The Town retains the authority to reject an application while
offering suggestions for improvements that could lead to
O future acceptance.
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• The Town of Trophy Club has the right to terminate any
agreement under the TBG if a participant is found to be in
violation of any conditions set forth in these guidelines.
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• 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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Thrive Business Grant Timeline—Fiscal Year 2025-2026
The following timeline outlines the key dates for the Thrive
Business Grant. Please note that dates are subject to change.
For up-to-date information, visit our website or contact us
directly.
W • Grant Launch: April 15, 2025
Z • Grant Application Deadline:June 15, 2025
W • EDC Review:July 2025
• EDC Approval:July 2025
• Town Council Approval: August 2025
• Performance Agreements Signed by Business: September
2025
• Performance Agreements Signed by EDC: October 2025
• Project Start: October 2025
• Project Completion Deadline: October 2026
The total duration of the grant process, from application launch
to project completion, is approximately 1.5 years.
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Thrive Business Grant (TBG)
Application
Applicant Name
Mailin
ZAddress
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E"4 Business Name
Business Address
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Contact Number
E-mail Address
Building Owner
Name
Building
atue
Project Information
Project Sae/
Address
Project
Type
Project
Description
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Thrive Business Grant (TBG)
Application
How will this
project benefit the
community?
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How will this
project benefit your
business
Project Cost
Project Expenditures Expenditure Total Total Grant Dollars
Requested for Expenditure
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Thrive Business Grant (TBG)
Application
Total Cost of
Project
Total Grant Dollars
Requesting Il
O *25% of total cost of project is the responsibility of the applicant.
UBusiness Information
Number of
�., Employees
Number of Years in
Trophy Club Il
Annual Revenue
Il
Will this project create or retain jobs? I I Yes n No
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 role 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:
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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:
thrive@trophyclub.org
Online Application:
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