The Sanger Texas Development Corporation (STDC), a non-profit coporation specifically governed by Section 4B of the Texas Development Corporation Act of 1979. It was incorporated in October 1998 as a Type B Corporation and is funded by a portion (1/2 cent) of the local sales tax revenue. The Sanger Texas Development Board is authorized to expend funds for both economic development projects and community quality of life projects.
Type B coporations may pay for land, buildings, equipment, facilities, targeted infrastructure and improvements for:
·professional and amateur sports and athletic facilities, tourism and entertainment facilities, convention facilities and public parks;
·related store, restaurant, concession, parking and transportation facilities;
·related street, water and sewer facilities; and
·affordable housing.
To promote and develop new and expanded business enterprises that create or retain primary jobs, a Type B EDC may fund:
·public safety facilities;
·recycling facilities;
·streets, roads, drainage and related improvements;
·demolition of existing structures;
·general municipally owned improvements; and
·maintenance and operating costs associated with projects.
In the past few years, the Sanger Texas Development Corporation has funded the following projects:
Projects require 60-days for public comment before the project can be approved by a majority vote of the Type B Board and the City Council.
Meetings
The seven member Board of Directors is comprised of individuals apponited by the Sanger City Council to serve two-year terms. The members of the Board are: