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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.

TERMS

The Economic Development Corporation Board of Directors has two-year terms. Places 1, 3, 5, and
7 are appointed in odd-numbered years; Places 2, 4, and 6 are appointed in even-numbered years.

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