About the Troup Community Development Corporation

The Troup Community Development Corporation is a Type B Economic Development Corporation.

TCDC Annual Report to State of Texas

Purpose from Articles of Incorporation

The purpose of TCDC is to promote economic development within the city, in order to eliminate unemployment and underemployment and to promote and encourage employment and the public welfare of, for and on behalf of the city, for parks, auditoriums, learning centers, open space improvements, athletic and exhibition facilities and other related improvements and for maintenance and operating costs of publicly owned and operated projects by developing, implementing, providing and financing projects. TCDC is a non-profit economic development corporation, authorized by the Texas Legislature under section 4(b), Texas Civil Statutes Article 15190.6.

Funding. The corporation is primarily funded by sales tax revenues from the half-cent sales tax for economic development approved in 1998. Revenues may also come from rental income, accruing of economic development projects and the corporation may also receive gifts. Generally we do not have the power to operate any project as a business entity other than as a lessor, seller or lender.

Project Determination. Projects arise from economic development needs within the community. The corporation relies on general community input, direction from the Troup City Council and internally developed ideas to determine which projects will be provided. All projects are subject to review and approval by the Troup City Council. At least one public hearing must be held before any project can commence. Sixty days following the public hearing, the corporation is free to make expenditures related to the project pursuant to it's adopted budget.

Incurring Debt. The statutes permit the corporation to issue bonds and obtain loans in pursuit of economic development projects. Our bylaws restrict the corporation's ability to incur dept. All debt must be approved by the Troup City Council before incurred.

Permitted Projects. Promotion of manufacturing and industrial facilities, recycling facilities, distribution centers, warehouse and storage facilities, air and water pollution control, development and redevelopment of closed military bases, athletic facilities, parks and public space improvements, affordable housing, learning centers and museums, transportation improvements, infrastructural improvements and other business related improvements that promote or expand business enterprises.

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