Type B Corporation
Type B - Sanger Texas Development Corporation
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:
- Quail Run Park improvements
- Downtown Park improvements
- Downtown streetscape improvements
- Improvements to the railroad ball fields
- Construction of Porter Sports Park
- Switzer Splash Park
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
- 6 p.m.
- Held monthly or on an as-needed basis
- Sanger City Hall
502 Elm Street
Sanger, TX 76266
Board of Directors
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:
- Justin Swaim, Place 1
- John Payne, Place 2, President
- Will Dutton, Place 3
- Beverly Howard, Place 4
- Jeff Springer, Place 5
- Eddie Piercy, Place 6
- Carrie Bilyeu, Place 7
