GUIDELINES AND CRITERIA
The Fort Stockton Economic Development Corporation Storefront Improvement Program is designed to assist existing Fort Stockton businesses to improve their storefront appearance in a joint effort with the business to increase revenues and to retain/create jobs. The following are the Guidelines and Criteria that will be used by the 4-A and 4-B Economic Development Corporations to determine needs and eligibility for participation in the program.
- Applicant must be an existing business in Fort Stockton.
- Applicant must complete Storefront Improvement Program Application for Assistance and present said application to the appropriate Economic Development Corporation.
- Applicant must contribute a minimum of fifty percent of the capital investment for storefront improvements. Economic Develop Corporations have a cap of twenty-thousand dollars ($20,000.00) per each project.
- EDC investment in the project will be determined on the basis of jobs retained or created, with each job retained or created counting as $2,000.00 towards the funding of the project.
- .The Economic Development Corporation may designate certain applicants as “Distressed Businesses”. If Applicant is designated as “Distressed”, said applicant may be deemed to not be subject to fifty percent match. Should this be the case, the EDC and the Applicant shall negotiate the extent of the Applicant’s contribution to the project, with the EDC maintaining a $20,000 cap on their contribution.
- Applicant must agree to a Performance Agreement with either the 4-A or 4-B Economic Development Corporation outlining the responsibilities of both parties in regards to capital investment, design and implementation of storefront improvements and the number of jobs retained or created as a result of the completion of storefront improvements.
- Applicant shall provide the EDC with documents verifying employment numbers, expenditures on the project and any other documentation the EDC should request in relation to the project.
- Should Applicant be leasing business property, a copy of the lease and letter approving Storefront Improvement from the Lessor must be included as part of the application. Terms of the lease will be considered as part of the decision-making process of the Economic Development Corporation.
- The decision of the 4-A or 4-B Economic Development Corporation as to the applicant’s need and/or eligibility for assistance is solely the decision of either the 4-A or 4-B EDC. The applicant is eligible to resubmit for assistance one time should the initial application fail to be funded by the EDC.
- Applicant may re-apply for funds every 60 months from the completion of the previous storefront improvement project.