Existing or new businesses may apply for project funding from the YEDC by completing a five page application. Once the application is accepted by staff, the entire process takes approximately three months before a Performance Agreement is signed and the funds dispensed.
The most utilized program of the YEDC is the Business Enhancement Program. On an annual basis the Board accepts applications for the following three programs:
The Business Retail Enhancement Program works to stimulate activity to businesses that collect and report sales tax within the city limits. Under this grant program, up to fifty percent of the total cost, not to exceed $10,000, will be reimbursed upon completion of the project. A completed business plan coordinated with the University of Houston-Victoria's Small Business Development Center is required to be considered for this grant.
The Business District Preservation Program works to preserve, protect, enhance, and encourage activity in the downtown business district which is bounded by and within Hopkins St., Front St., West St., and McCarty St. Under this grant program, up to fifty percent of the total cost not to exceed $7,500, will be reimbursed upon completion of the project. Types of work include signage, brick work, painting, side walks, landscaping, store front upgrades, second story conversion, interior repair, windows and other related activities.
The Community Services Program fosters support to non-profit organizations within the Yoakum trade area. Under this grant program, up to fifty percent of the total cost, not to exceed $5,000, will be reimbursed upon completion of the project.
In cooperation/coordination with the City of Yoakum, the YEDC can facilitate applications for two additional programs:
- Texas Department of Agriculture
- Texas Capital Fund
- Infrastructure & Real Estate Development Program
- City of Yoakum Tax Abatement Program as authorized by the Property
- Redevelopment and Tax Abatement Act of 1989