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State Incentive

Texas Capital Fund

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Summary

Supports rural business development, retention and expansion by providing funds for public infrastructure, real estate development, or the elimination of deteriorated conditions.

Description

The Texas Capital Fund infrastructure development and real estate programs are economic development tools designed to provide financial resources to non-entitlement communities. Funds from the infrastructure program can be utilized for public infrastructure needed to assist a business that commits to create and/or retain permanent jobs, primarily for low and moderate income persons. Funds from the real estate program must be used for real estate development to assist a business that commits to create and/or retain permanent jobs, primarily for low and moderate-income persons. The real estate and/or improvements must be owned by the community and leased to the business. These programs encourages new business development and expansions.

All Eligible Applicants

Eligible applicants are non-entitlement general purpose units of local government including cities and counties that are not participating or designated as eligible to participate in the entitlement portion of the federal Community Development Block Grant Program (CDBG). Non-entitlement cities that are not participating in urban county programs through existing participation agreements are eligible applicants (unless the city’s population is counted towards the urban county CDBG allocation).

Non-entitlement cities are located predominately in rural areas and are cities with populations less than 50,000 thousand persons; cities that are not designated as a central city of a metropolitan statistical area; and cites that are not participating in urban county programs. Non-entitlement counties are also predominately rural in nature and are counties that generally have fewer than 200,000 persons in the non-entitlement cities and unincorporated areas located in the county. Businesses or individuals may not directly submit applications.

Award Amounts

Application Minimum/Maximum: $100,000/$1,000,000

Evaluation and Selection

The Texas Capital Fund RE/Infra Program will be available quarterly, on a

competitive basis, to eligible applicants statewide. Scoring is based on:

  1. Unemployment rate
  2. Total job activity
  3. Proportion of Jobs Created
  4. Wage Impact
  5. Preferred Job Categories
  6. Cost per Job
  7. Readiness to Proceed



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