The Sachse Economic Development Corporation considered measures to assist business owners in the community during its most recent meeting.

Trustees on the SEDC board of directors discussed what a small business grant program might look like and how it would exist within current programs during the Nov. 17 regular meeting.

Economic Development Manager Jerod Potts said SEDC policy initiatives include economic development incentives, increasing and retaining quality jobs and expanding the city’s tax base. Within its parameters, a local business grant program would dovetail with existing goals, he added.

In 2020, the SEDC approved a small business grant program with $125,000 in allocated funding. Of the allocated funds, only $36,410 in grants were awarded in eight separate tranches but the program has not been utilized since July 2020, Potts said.

The account remains active, said Potts, but it could be done away with by the board since it was primarily designed to assist businesses struggling because of the pandemic. Trustees could reallocate the remaining funds to a different program if they wished, he added.

Additionally, the SEDC has an existing local business grant program but funds have also been used to sponsor events — such as Backyard on Fifth. It has also been used to fund site improvements along Fifth Street and facade enhancements for businesses.

However, the SEDC has lacked policy direction on how to use funds so the city has not budgeted any additions to the local business grant fund balance.

“We have not added money into this account for two years,” Potts said. “It is an inactive account and what we noted is that we wanted more policy direction before we put more money in this account. City council is not going to love the idea of money sitting in there if there is no plan for it.”

For the full story, see the Dec. 8 issue of The Sachse News.