Purpose: To develop, implement, provide and finance projects under the Development Corporation Act of 1979 and as defined by Section 4B of the Act.
Duties: Section 4B tax proceeds may be spent on land, buildings, equipment, and improvements for items encompassing manufacturing and industrial facilities, recycling facilities, distribution centers, small warehouse facilities, enterprise zone projects and facilities related to these projects. Additionally, Section 4B specifically permits expenditures of tax proceeds for land, buildings, equipment, and improvements suitable for the following eight types of projects:
- Athletic Facilities
- Tourism and entertainment facilities
- Parks and public space improvements
- Public facility improvements
- Commercial facilities
- Transportation improvements
- Infrastructural improvements
- Other business-related improvements
Time Commitments: Members must attend regularly scheduled meetings approximately 1½ to 2 hours in duration. Additional time may be required for outside meetings to visit sites and to read relevant reports and documentation.
Members: This Board is comprised of seven (7) positions, appointed by the City Council, who are residents of City of Groesbeck. Four (4) members of the Board shall be members of the City Council. Mayor and Mayor Pro Tem are automatic members. Three (3) members must not be employees of the City nor City Council members.
Term: Two (2) years. Term limitations are three (3) consecutive terms.
Meetings: Regular meetings are typically held on the third Monday of the month at 6:30 p.m.