Page 300 - Honorable Mayor and Members of the City Council

BENBROOK BOARDS AND COMMISSIONS

ECONOMIC DEVELOPMENT CORPORATION

ESTABLISHMENT

The Economic Development Corporation was established as the Benbrook Industrial Development Authority by the
City Council in 1980. The Authority was converted to a 4B Corporation in 1995.

PURPOSE

The purpose of the Economic Development Corporation is to plan and fund projects that promote economic
development within the City, using financial resources including the half-cent sales tax for economic development.

DUTIES

The duties of the Economic Development Corporation are: (1) to prepare an economic development plan for approval
by the City Council, (2) to prepare an annual budget of projected revenues and expenditures for approval by the City
Council, (3) to fund projects that promote economic development such as infrastructure improvements to attract or
retain business or to improve business areas, (4) to prepare an annual progress and financial report for City Council,
and (5) to perform any other duties assigned to the Corporation by the City Council.

POWERS

The powers of the Economic Development Corporation are to make bylaws and policies for itself subject to City Council
approval. The Corporation also has the power to fund projects in accordance with the approved plan, budget, and
State law. The Board has the power to retain its own staff and offices.

BOARD OF DIRECTORS

The Economic Development Corporation Board of Directors is comprised of seven directors appointed by the City
Council. Qualifications include being a registered voter and a resident of Benbrook.

CITY OF BENBROOK 2018-19 ANNUAL BUDGET
299