MEDC Notice of Intention
MISSION ECONOMIC DEVELOPMENT CORPORATION NOTICE OF INTENTION TO UNDERTAKE A PROJECT OR PROJECTS
TAKE NOTICE that the Mission Economic Development Corporation of the City of Mission, (the “MEDC”), shall convene not earlier than 60 days after first publishing this notice and shall consider authorizing and undertaking a Project or Projects, as hereinafter described, pursuant to the provisions of V.T.C.A. Local Government Code Sections 505.001 et seq. The MEDC is authorized on behalf of the City of Mission, Texas to undertake the Project or Projects by paying the cost of the Project or Projects with sales tax revenues authorized under said Local Government Code sections.
The Board of Directors of the MEDC will determine whether the Project or Projects will be undertaken and whether it will finance the cost of the Project or Projects with proceeds from sales tax revenues.
The Project or Projects shall consist of the following: A) City of Mission in an amount not to exceed $1,000,000; B) Small Business Fund Programs in an amount not to exceed $230,000; C) Downtown Façade Improvement Program in an amount not to exceed $50,000; D) Rent Subsidy Program in an amount not to exceed $25,000; and E) Texas Citrus Fiesta in an amount not to exceed $35,000.
Date of publication: June 07, 2019