Economic Development Corporation/Community Development Corporation

Funded by a sales tax voted on and approved by the residents of Fairview, the Economic Development Corporation (EDC) is funded by a 1/2 cent Type A sales tax and the Community Development Corporation (CDC) is funded by a 1/2 cent Type B sales tax.
 
Type A and Type B sales tax refers to sections of The Economic Development Act, legislation enacted in 1989 in response to a Constitutional Amendment approved by Texas voters in 1987. The purpose of Type A and Type B taxes is to give municipalities the tools to attract and/or keep businesses, provide jobs and tax revenues for the local economy.
 
Type A corporations are typically created to fund industrial development projects such as business infrastructure, manufacturing and research and development. Type A EDCs can also fund job training classes and public transportation. Type B corporations can fund all projects eligible for Type A, as well as parks, museums, sports facilities and affordable housing. However, Type B corporations are subject to more administrative restrictions than Type A.
 
Oversight of the use of these monies is given to a board of directors appointed by the Town Council. The Town of Fairview chooses to have all seven members of the EDC board also serve as board members of the CDC.
 
The directors of both Fairview corporations work in conjunction with staff identify and evaluate potential projects. The boards will evaluate the merits of a specific project and/or economic development agreement before passing recommendations to the Town Council for final approval. By statute, the boards must have Town Council approval before entering into an agreement on any economic or community development project.
 
Both boards meet as needed to handle the business of the two corporations. The day-to-day business of the corporations is handled by the Economic Development Manager, Ray Dunlap. He reports directly to the Town Manager, Julie Couch, and is trusted with carrying out the vision of the board of directors.
 
Fairview is fortunate to have a diverse and talented group of individuals who are willing to lend their time and talents to advancing economic growth in the area.
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