Economic Development Corporation
The Economic Development Corporation (EDC) is governed by a seven (7) member board of directors, who are appointed b the City Council.
- A director may either be a resident of the City of Paradise or a resident of Wise County.
- Members of this board serve staggered two-year terms.
- The EDC submits an annual budget for approval by the Council, and their financial records are included in the City’s annual audit. A monthly report is included in the Council’s agenda packet.
- The EDC operates through incorporation papers filed with the State of Texas and locally developed by laws.
- They operate off of public funds received through an approved local ) cent sales tax, through section 4B of the Development Corporation Act Funds may be used to provide loans to businesses; to promote tourism development; provide needed infrastructure improvements; hiring a director of economic development; and a wide range of other municipal projects.
- Projects should promote economic or industrial development.
- All such expenditures must be made pursuant to majority vote of the EDD Board and pursuant to approval by the City Council.
EDC meetings are held on the first Monday of each month at 6:00 p.m.
Where: City Hall – 218 Main St, Paradise, TX 76073.