Sonora Economic Development Corporation
Business Grant Application Process
Sonora Economic Development Corporation (SEDC) encourages all persons interested in starting a new business or expanding an existing business in Sonora to consider a grant from SEDC. Grants are approved on an individual basis. There are three types of grants for consideration:
--Economic Development: Compatible with strategic objectives, for-profit commercial business offering employment, products or services to the Sonora area. Three elements are studied in determining grant approval and amount.
--Amount of sales tax revenue generated in the community;
--Ad valorem tax valuation;
--Number of jobs created.
--Community Development: project offering enhanced lifestyle and recreation opportunities for local population and tourists.
--Infrastructure Development: project offering improvement or addition to infrastructure related to economic expansion in the community.
The application process is simple and convenient. Details of the application process follow. Words in bold are action items for you, as Grantee. Please call David L. Smith, SEDC Office Manager, at 325-387-6280 with any questions.
--Download application, complete and fax to 325-387-6261 or come by 307 East Oak Street, Sonora, TX 76950 to pick up an application.
--Appointment with one of the Board Members (see Board of Directors page). You may contact one directly or contact David, Office Manager at 325-387-6280. Outline business goals and work with Board Member to develop presentation to full Board.
--Prepare business plan. The Small Business Development Center of Angelo State University offers assistance with your business plan free of charge. Contact the representative for Sonora at (325) 942-2098.
--Contact the Office Manager to get on the agenda. Board Meetings are the first or second Wednesdays of every month. Board Meetings are subject to the Texas Open Meetings Act and a 72-hour notice is needed to be put on the agenda.
--Presentation to the SEDC Board of Directors (in Executive Session, if appropriate).
--SEDC Board of Directors will approve or reject your business grant proposal or ask for more information from you to be presented at a later date.
--Once a project is approved, it will go to Public Hearing. Public Hearings are held at the City Council Meetings on the third Monday of the month. SEDC handles this process, however you are encouraged to attend.
--Two readings of a proposed resolution regarding the project are required by law. These readings take place at the two City Council Meetings following the public hearing. This is a two month process.
--After the second reading, the City Council will vote on the project and if approved the resolution is passed.
--SEDC prepares contract. Parties sign contract and per contract provisions, a check(s) is issued.
Within legal and procedural limits, we try to make the business grant process as simple and convenient as possible. But, it is not a quick process and often can take 90 days or more to complete once SEDC has approved the project.