Real Estate Development
| Jurisdiction: | Texas |
| Incentive Type: | Loan Program |
| Industries: | Infrastructure, Real estate, Technology |
| Eligible Sector: | Government |
| Category: | Financial Incentive |
| Time Period: | FY 2015 |
| Governing Body: | Texas department of agriculture |
| What’s it worth?: | $50,000 to $1,500,000 |
The Real Estate Development Program was designed to provide zero-interest loans for real estate acquisitions, improvements, or to retain jobs in qualifying rural areas. Eligible participants include:
- Non-entitlement city governments
- Non-Main Street city
- Cities with a population of less than 50,000 persons
- Cities that are not a main metropolitan statistical area
- Cities cannot be participating in urban county programs
Awards typically range between $50,000 and $1,500,000. Funds are to be used for acquisition, new construction, or rehabilitation. Available monthly grant cycles have a minimum of $1,000,000 available for allotment. All applications are required to include:
- Cover sheet
- Application checklist
- 424 Form
- Project Approval Information
- Community Needs Information
- Project Summary
- Additional Project Information
- Beneficiary Information
- Budget
Applications may be obtained from the website at www.TexasAgriculture.gov with the full directions. All applications must be received before the deadline, any applications received after 5pm on the deadline date will not be considered for funding. Each application packet must submit two original, complete, and signed copies of the application and an electronic copy. The Regional Review Committee reviews and priorities each application; however, submitted incomplete applications that are not completed by the deadline will also be disqualified.
