EDC Representation Definition
Since the adoption of the Development Corporation Act in 1979 (the “Act”), Texas law has allowed cities to form economic development corporations (“EDCs”) to attract businesses and create job opportunities. The formation of an EDC must be approved by the voters in the City, and approximately 725 of the 1220 incorporated cities in the state have been approved. Approval includes the formation of an EDC board of directors and authorization of a sales tax that may be used for qualifying projects based upon election ballot language.
The purpose of EDCs created under the Act, is to use the dedicated economic development sales tax revenues to promote new and expanded business development and the retention and expansion of existing businesses within the communities they serve.
Messer Fort, PLLC represents many EDCs. Legal representation of EDCs is a specialized service that is very different from representation of municipalities. Messer Fort attorneys have actively represented EDC clients regarding numerous major economic development projects across the state, including the following:
- Buda
- Marble Falls
- Pflugerville
- Magnolia – Type A
- Magnolia – Type B
- Bandera
- Murphy
- Ennis
- Midlothian – Type A