PUBLIC NOTICES

NOTICE OF PUBLIC HEARING & 60 DAY COMMENT NOTICE

ON THE USE OF TYPE B FUNDS FOR THE COVID-19 EMERGENCY ASSISTANCE LOAN PROGRAM

Pursuant to Texas Local Government Code, Sec. 505.160 the San Benito EDC hereby conducts this notice announcing the opening of its sixty (60) day comment period & public hearing.

The San Benito EDC, hereby gives notice, pursuant, to Texas Local Government Code, Sec. 505.160 that it will conduct a sixty (60) day comment period that will open on Friday, June 26, 2020 and will close on Monday, August 24, 2020 for the consideration to use Type B sales tax funds for the following project/activity:

The San Benito Economic Development Corporation is proposing to implement a COVID-19 Emergency Loan Program to provide assistance to For-Profit local businesses suffering from financial impacts related to the COVID-19 pandemic. This program is possible and pursuant to the authority of the EDC under Sec. 505.103, Local Gov’t Code and the EDC Board’s intent to promote local businesses during this unprecedented time. 

A total of $100,000 will be available for this program for businesses located within the city limits of San Benito, TX.  This program is temporary, and applications will be accepted between August 25, 2020 and December 31, 2020. Loans will be awarded until funds are depleted or until December 31, 2020, whichever one comes first. 

The EDC will provide loans in an amount not to exceed $10,000.  The loans will have a 36-month repayment schedule and will not be charged interest if paid in full by the maturity date. A promissory note must be executed. There will be a payment deferment of twelve (12) months.

This program is only available as a last resource; business MUST HAVE APPLIED AND BEEN DENIED by the Small Business Administration on any COVID-19 related loan applications.  The purpose of this program is to provide working capital for personnel costs, rent, utilities, etc. for existing small business enterprises within the city limits of San Benito, Texas. Businesses must be brick and mortar and must be in compliance with all applicable zoning, land use, and other city related ordinances. Business must generate sales, contribute to the sales tax base of the city and/or create economic impact such as job creation. Home based businesses or vendor operating inside another business are NOT eligible for this program. USDA Intermediary Revolving Loan Program recipients are NOT eligible for this program. 

A public hearing is scheduled for Wednesday, July 29, 2020 at 5:30 PM at the San Benito EDC located at 701 N. Bowie Street, San Benito, TX 78586.  Note that funding for this program requires approval from the San Benito EDC Board of Directors and the San Benito City Commission. 

To review proposed program and provide comments within the sixty (60) day comment period, please contact Rebeca Castillo, EDC Executive Director, via email at info@sanbenitoedc.us or via phone at (956) 626-1350.  The public is invited to attend  the public hearing and provide their comments.  Accommodations for individuals with handicap/disabilities shall be provided by calling (956) 626-1350.