Voters have option to modify project scope for EDCGabby Perez October 10, 2018 0 COMMENTS
On Nov. 6 the City of Muleshoe voters will have the option to modify the scope of projects for the Muleshoe Economic Development Corporation.
The Development Corporation Act of 1979 gives cities the ability to finance new and expanded business enterprises in their local communities through Economic Development Corporations (EDCs). Within the Act, a city may form a Type A, Type B or both.
Muleshoe formed a Type A Corporation in 1993. Type A EDCs are tasked with creating primary jobs in a community. Typically these projects will include industrial development projects such as business infrastructure, manufacturing, research and development, and job training classes. Since its formation, the Muleshoe EDC has partnered with business and industry professionals to create hundreds of primary jobs in Muleshoe and the surrounding areas. Type A Corporations are generally known to be more restrictive.
The Type B sales tax may be used for any project eligible under Type A rules and several other project types, including quality of life improvements. Type B EDCs created by cities with a population of 20,000 or less, may use sales tax proceeds to fund projects that promote new or expanded business development that do not create or retain primary jobs, such as retail or restaurant. Type B Corporations are thought to be more flexible in project scope.
If passed, the Muleshoe Type A Corporation would be dissolved and a Type B Corporation would be formed. The sales tax rate of 1/4 percent would remain the same.
Early voting begins Oct. 22 and ends Nov. 2. Oct. 23 and Oct. 30 polls will be open from 7am- 7pm. Election day is Nov. 6. The city election will be held at City Hall.