$ City-wide economic development incentives from COSADC

$ Location based revitalization incentives from TIRZ & HUD funds

$ Business Incubator and other resources

Shawn Lewis Bob Schneeman Donna Osborne

Mission Statement:

The City of San Angelo Development Corporation will seek to retain, strengthen and diversify the tax

and job base of the community through quality infrastructure and facility improvements,

innovative incentive packages and a focus on best business practices in order to provide a sustainable economy for San Angelo and its

regional partners.

City of San Angelo Development Corporation

General Guidelines Must be spent on land, buildings, equipment, facilities,

targeted infrastructure, and physical improvements, OR Must create or retain “primary jobs” defined as

generating 85% of company revenue outside the Concho Valley

_______________________________________________________________________________ Business must have qualifying NAICS code:

Manufacturing, Wholesale Trade, Transportation and Warehousing, Scientific Research and Development Services, Company Headquarters, Telephone Call Centers, Ag-related Businesses, etc.

Must be inside the city limits, or within the city’s ETJ Requestor must provide sufficient financial information to

determine a Return-on-Investment (ROI)

Examples▪ Job creation and/or retention▪ Training programs▪Major equipment purchases▪ Site improvements▪ New building construction▪ Lease subsidies▪ Building remodeling costs▪ Purchase/lease-back

Job Creation Grant Guidelines Range from $2,000 - $5,000 per job Base on salary and benefits, typically

110% of Tom Green County wage or about $35,000

Up to $10,000 maximum/job, for company headquarters

Minimum of five new jobs Must document minimum capital

investment of $125,000

Loan Participation May purchase a portion of loan with local institution

−Collateral may be shared on pro-rata basis−Local lender may be given superior lien

May lower interest on COSADC-portion of loan if lender agrees to lower overall rate

Land/Infrastructure Grant May grant free/reduced lease/sale of land in City

Industrial Park May provide grant for new or improved

infrastructure to property, including streets and roads, rail spurs, drainage/stormwater improvements, and telecommunications, electric, gas, water and wastewater utility lines

Bob SchneemanDevelopment Coordinator

TIRZ-Funded Incentives– Façade grants – 50/50 $7,500– Asbestos Abatement - $10,000– Fee Reduction – 80%– Water Tap – 75 / 25 - $5,000– Secondary Egress – 50 / 50 $5,000– Landscape – 50 / 50 - $2,000– Paving – 50 / 50- $7,500

Granted when proposed improvement would increase property value by 50 percent or more.

Full abatements available for mixed uses with no more than 50% of space reserved for offices, as well as all retail, residential, entertainment uses

ProjectCost

Year 1 Year 2 Year 3 Year 4 Yr 5-10

>$25k 100% 100% 80% 80% 50%

Downtown Incentives (TIRZ)

Façade improvement grants

• Designed to help property owners and tenants improve the aesthetics of downtown properties.

• 50/50 matching grant on per-square-foot up to $7,500

Water tap refunds City pays up to 75% of costs for new water tap for

sprinkler system Maximum refund of $5,000Sprinkler Systems & Monitored Smoke Alarm Systems City pays up to 50% of for installing systems if required by

code Up to $5,000Secondary exit grants City pays up to 50% for installing additional exits required

by Code $5,000 per floor maximum, up to $20,000 totalAsbestos abatement incentives City pays 50% of total cost, up to $15,000

Downtown Incentives (TIRZ)

Incentives Map

Donna OsborneExecutive Director

An economic development tool helping entrepreneurial companies succeed by providing targeted business support and resources

A “plug & play” environment for new and expanding companies

A business-friendly environment growing self-sufficient companies capable of thriving in the community

www.cvced.org 325-657-9214

Business Incubation Services Low cost, flexible lease space Office furnishings Hands-on management counseling Shared office services Shared office equipment Technical assistance

www.cvced.org 325-657-9214

2009 West Beauregard Over 2,800 sq. ft. of leasable office space 460 sq. ft. conference/training room Ample parking Break room (microwave, coffeemaker, etc.) 24-hour building access Security system Internet and telephone system with voice

mail Central receptionist Shared printer, copier, and fax machine

www.cvced.org 325-657-9214

www. CVBiz.org Web portal for business assistance First stop for business resources

www.cvced.org 325-657-9214

Concho Valley Angel Network High wealth individuals seeking to

invest in high-growth companies Focus on Concho Valley Region www.cvAngel.org

www.cvced.org 325-657-9214

Donna OsborneExecutive Director

www.cvced.org 325-657-9214

For More Information