Application Process for Obtaining Junction Texas Economic Development Corporation (JTEDC) Financial Assistance
(This process was approved by the JTEDC Board at its regularly scheduled Nov. 6, 2003 meeting)
- Submit a full and complete application to the JTEDC for financial assistance to be submitted at least 10 days prior to the next JTEDC Board meeting (held on the first Thursday of each month).
- In submitting the application, provide full and complete answers to the questions contained in the “Criteria to Consider in Judging the Suitability of a Project for Funding”.
- Provide full and complete answers to any follow-up questions from the JTEDC Board. Upon completion of the above and depending on the findings of the Board’s review of the application and related materials, the JTEDC executive director will develop jointly with the applicant a performance based contract. Such a contract is subject to approval by the City Attorney. If an approved contract is developed, the following will occur:
|A.||A notice of public hearing by the JTEDC on the proposed project/contract will be posted. If posted, this notice must be published at least 10 days prior to the hearing.|
|B.||The JTEDC will hold a public hearing on the project. Depending on the nature of the project, the public may petition, during the 60-day period noted below, for an election to be called on whether to pursue the project. (Note: For most projects, it is unlikely the “Petition for an election” would be applicable. For more information, see pages 50-51 of the Attorney General’s “Handbook on Economic Development Laws for Texas Cities” (2006 edition) included in this packet and also available by clicking: https://www.oag.state.tx.us/AG_Publications/pdfs/econdevhb2008.pdf|
|C.||After the project/contract has been considered at a public hearing and 60 days have passed since the published notice of the hearing, the Board will vote at its next regularly scheduled or called meeting to approve or disapprove the project/contract.|
|D.||If approved, the Board will present the project proposal/contract to the City Council for action. If approved by the Council, the Board may then make expenditures related to the project and conduct the oversight necessary to ensure the successful and legal implementation of the project.|