Project Funding Policy

The purpose of this policy is to clarify the intentions of the Coleman Economic Development Corporation (CEDC) and the Coleman Community Coalition (CCC) concerning funding of projects having the potential of enhancing job opportunities, sales tax and the overall business environment for the City of Coleman through the expenditure of designated tax funds in a judicious and prudent manner. In keeping with the By-Laws of the Coleman EDC, direct economic development shall mean the expenditure of such tax funds for programs that directly accomplish or aid in creating identifiable new jobs or retaining existing jobs, increasing sales tax collection and providing a way of life for our citizens to work and raise their families.

The EDC’s focus will be in the areas of:

  • Business retention and expansion

  • Job Creation

  • Sales Tax

The EDC, through the establishment of this policy and procedure, desires to make the application process as simple as possible for the applicants, yet at the same time ensure the proper stewardship of the tax funds used to enhance the community’s growth.

Additionally, the EDC will be as transparent as possible, on the decisions being made by the CEDC/CCC board and the Coleman City Council.

Project Funding Procedure

1.     Purpose for Application Procedures

Application processes are designed to help streamline the fact finding and overall information compilation required to request funds from the Coleman EDC/CCC.  By completing the application, business prospects will be able to better understand the overall scope of the project request and what will be required to be considered for funding. Email edc@cityofcolemantx.us to request a digital copy of the application.

2.     Goals of the Application Procedures

a.       To provide a thorough but simple process for the consideration for funding of economic development projects in the City of Coleman.

b.       To encourage positive growth and to meet the long term goals of development of assets in the City of Coleman including:

1-Improving quality of life

2-Increasing tax revenue

3-Creating or retaining jobs

4-Developing new structures

5-Rehabilitation of blighted areas 

3.     Evaluation of the Application Procedures

The Coleman CEDC/CCC will consider the use of sales tax incentives for job creation and increased sales tax as well as improvements to property that will generate utilities and increased property taxes.  New job creation or retaining jobs in Coleman will also be a factor.

4.     Application Process

  1. Each application will be considered on merit and overall objectives of the project and must include the following:

  2. EDC Application.pdf

                    Completed application and financial spreadsheet

                    Supporting documentation as required

    All required information must be turned into the Director of Economic Development to be processed and evaluated prior to being placed on an EDC agenda at a later date

    Failure to comply will be reason for denial of consideration

    All projects must be approved by the City Council after being recommended by the CEDC/CCC Board

     For More Information Contact:

                Director of Economic Development, City of Coleman

                200 W. Liveoak, P.O. Box 123

                Coleman, TX  76834

                325-625-3669

                edc@cityofcolemantx.us