Mineola Texas

Economic Development Corporation

 

PROCESS FOR BUSINESS INCENTIVE REQUEST

By: Mercy L. Rushing, City Administrator & MEDC Executive Director

à  Contact & Meet with City Administrator & Mineola Economic Development Corp.(MEDC) Exec. Director, Mercy Rushing City Hall (903)-569-6185/245-8505

à  Prospect must fill out MEDC application form (it’s will be on our website www.mineolatxedc.com or we will email)

à  MEDC staff gathers information on prospect and reviews business plan. All Business requesting Incentives must have a business plan to present to MEDC.

à  MEDC executive director puts together Economic Impact Analysis for MEDC board of directors and City Council’s executive session discussion.

à  MEDC executive director takes prospect’s information along with Economic Impact Analysis to MEDC Board of Directors Meeting & City Council Meeting for discussion in executive session.

à  Once MEDC executive director is satisfied that the MEDC board and City Council support the project and prospect, then director starts negotiations with the prospect.

à  Negotiations with prospect may take months and years depending on prospect’s funding, timeline, and complexity of the business or deal etc.. Timeline depends mostly on the prospect’s ability to provide information needed by MEDC.

à  ABSOLUTELY NO PROMISES ARE MADE TO THE PROSPECT THAT MEDC BOARD AND CITY COUNCIL ARE NOT AWARE OF DURING NEGOTIATIONS.

à  Once both parties agree on incentive package, MEDC Executive Director or City Manager authorizes City’s Legal Counsel to draft contract agreement between MEDC or City of Mineola and prospect.

à  MEDC Executive Director places item on MEDC agenda for executive session for any last changes as well as staff providing any background checks that have been performed prior to approving prospect and project. Before any approval, this is placed on agenda for public hearing, staff presentation of the prospect & project publicly, then consider action and vote by the MEDC Board of Directors.

à  Last action, is to take approved prospect & project to Mayor/City Council’s meeting for executive session for final discussion with staff. This is also placed on agenda for staff presentation final discussion by Mayor/Council in open session. The Contract Agreement that was voted by MEDC is then considered and final approval is given by vote by the City Council. This completes the process for Business Incentives & Negotiations between MEDC/City and the Prospective Business or Project.

4B TYPE -1/2 CENTS SALES TAX LAW:

-All project & program, approvals & public hearing/presentation must always originate with the City’s Economic Development Corporation Board of Directors, which is appointed by the City Council if the ½ cents sales tax funds are to be used for prospect incentives for projects or programs.

-All EDC’s Board of Directors meeting agenda must be posted 72 hours prior to board meetings.

-All EDC’s Meetings & Board of Directors are subject to the open meeting act & public information act, however business & personal financial documents are not public information. Only MEDC Executive Director, Mayor, City Manager or/and Legal Council may view business & personal financial information and other sensitive business & personal information pertaining to the prospect.

*For more information, you may contact City Administrator and MEDC Executive Director Mercy L. Rushing at 903- 245-8505 (cell), 903-567-6185 at the Mineola EDC Office at City Hall or email at This email address is being protected from spambots. You need JavaScript enabled to view it.