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Old 10-04-2009,   #1
islander
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Economic Development Corporation (EDC)

There are 2 types of EDCs - 4a and 4b. SPI is 4a.

For years, there've been cogent arguments made that we should be 4b because 4a is more for bringing manufacturing type businesses into a community, but EDC (Mr. Franke) has always resisted and convinced whatever Board was in office at the time.

Here's a summary. Note the 3rd bullet under 4b and it becomes apparent why Mr. Franke resisted......"community projects" "quality of life", "Parks" ......all those wicked things he fears.

But, 4b also is about.................."tourism" and "entertainment facilities". Are we not a tourist resort?

They've managed to keep the HOT funds away from the community, now this is how they keep the sales tax funds generated by our businesses away from the community!

So, can someone explain why we must stay 4a?

4A Eligible Projects
Land, buildings, equipment, facilities, improvements, and expenditures related to:
• Manufacturing, industrial, research & development, recycling, small warehouse and corporate headquarter facilities, and
distribution centers.
• Closed or realigned military bases.
• Job training for primary jobs and commercial/retail.
• Business airport facilities and port-related facilities.
• Clean-up of contaminated project sites (with a special election and specific ballot language).
• Infrastructure assistance to retail or commercial projects.
• Business-related sewer utilities and site improvements.
• Beach remediation in Gulf communities required or suitable to promote or develop new or expanded business enterprises.
• Projects designed to attract new military missions, prevent the closure of existing missions, and redevelop a closed or
realigned military base.
• General airport facilities for communities located 25 miles from US/Mexico border only.
• Light rail, commuter rail, or motor buses.
• 4B projects with voter approval.


4B Eligible Projects
• Everything authorized under 4A of the DCA, including retail and commercial projects with the same restrictions.
• Water supply facilities (with a special election and specific ballot language).
• Projects that improve a community’s quality of life, including parks, professional and amateur sport and athletic facilities, tourism and entertainment facilities, affordable housing, and other improvements or expenditures that promote new or expanded business activity that create or retain primary jobs.
• Projects designed to attract new military missions, prevent the closure of existing missions, and redevelop a closed or
realigned military base.
• Sewer or solid waste disposal facilities in Hidalgo County.
• Direct incentives for retail development in communities with fewer than 20,000 residents and certain land-locked cities.
• Hangars, airport maintenance and repair facilities, air cargo facilities, related infrastructure located on or adjacent to an
airport facility.
• Airport facilities provided that the eligible municipality enter into an approved development agreement with an entity that
acquires a leasehold or other possessory interest from the economic development corporation.

Legislative History of the
WhenWhen

onomic Development Sales Tax

Last edited by islander : 10-05-2009 .
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Old 10-04-2009,   #2
Swells
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Re: Economic Development Corporation (EDC)

Quote:
Projects that improve a community’s quality of life, including parks, professional and amateur sport and athletic facilities, tourism and entertainment facilities, affordable housing, and other improvements or expenditures that promote new or expanded business activity that create or retain primary jobs.
Maybe it really doesn't much matter since the last amendment to the EDC laws, which allowed "4B projects subject to a vote" even in a 4A chartered EDC. I quoted your favorite 4B eligible project above. We can do that right now if we want.

Sounds groovy but isn't the EDC pretty tapped out with the commitments for the WBC and beach renourishment? I get the feeling they're a little leveraged but perhaps you know the financials better.
-sam
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Old 10-04-2009,   #3
islander
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Re: Economic Development Corporation (EDC)

As I understand it, they have to put the 4b projects to a vote. In other words, they are not a part of their continuing mission.

As far as internal direction, I've seen no evidence of goals and objectives. It seems like they just flounder from one project to the next depending upon the whim of the director.
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Old 10-05-2009,   #4
mermaid66
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Re: Economic Development Corporation (EDC)

One thing is for sure about EDC, we need to watch them like a hawk. No more "trusting" they will do the right thing for businesses.

I sure wish they would televise their meetings.
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