In a previous post, we noted that the Texas Leverage Fund makes loans to 4A- or 4B-taxing Economic Development Corporations. These loans basically advance the EDC its future sales tax revenues, and can be spent just as their sales tax revenues can be spent.
The Heart of Texas Region cities have a combined $14.3 million in loan availability, and interest rates are currently just over 3%.
Individual cities vary in their lending limits. Cities with over $1 million available are Mexia, Bellmead, Fairfield, and Hillsboro. Cities with between $500,000 and $1 million are McGregor, Clifton, and Groesbeck. Cities with between $100,000 and $500,000 are Hubbard, Itasca, Meridian, Rosebud, and Wortham. Cities with between $50,000 and $100,000 are Lott and Crawford.
For more information on how to access this fund, email Megan or Kathy or visit the Texas Economic Development Bank, part of the Governor's Office of Economic Development and Tourism.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment